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Biden Drug Price Controls Backfire
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Biden Drug Price Controls Backfire
The only solution is for the government to take over the industry, either by drowning these companies in regulations where they would be de facto arms of the government, or by the government outlawing them and taking on R&D and manufacturing/distribution of medication.
Which do you prefer?
Biden Drug Price Controls Backfire
Price controls passed by President Joe Biden and Democrats aimed at reducing prescription drug prices are instead reducing available prescription drugs. A Bloomberg report says drug companies are now delaying the release of new medications in order to avoid triggering the new price controls, which mandate companies “negotiate” with Medicaid. Critics previously blasted this proposal, calling it “price fixing” that would benefit insurance companies and government entities like Medicaid while failing to actually bring down prices.
“Many groups said this is exactly what was going to happen,” says David Balat, CEO of Healthcare Finance Specialists. “Now, we’re seeing a slowdown in innovation, a slowdown in medications making it to market, and the only population this is hurting is American patients.”
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