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Think Tank 1210pm Drugs prices

Feb 1, 2017|

Drugs prices lowered a lot!  That’s what Trump is demanding of pharmaceutical companies. But we’ve always been told that’s not possible, because of research and development costs.  Have we been lied to? This hours guest: Dr. Stuart Schweitzer - Professor of Health Policy and Management at the UCLA Fielding School of Public Health

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Automatically Generated Transcript (may not be 100% accurate)

Have often it's don't own it's a microphone. Over a number of debris wreak conservatives. Say it's. I didn't vote for trump. I don't like it and there's a lot of things I'm very concerned. That he's doing. There are some things are well kitten and Dolan the blues over the last couple weeks. One good news he wants to bring the price of broad. Now. Stewart drove Leo forms sued gold in Easter won't bring the prices went down. If they do lead current regulations. Lower tax rates. And important album always your Medicare and Medicaid adopting particular Medicare. Joseph and have the ability to use to Borden. With the forms should cool competent she wants change. I recall would basically price fixing by the biggest dog in the market and that its Medicare. Veterans and I think that complicated subject thank goodness with an expert doctors Stuart Schweitzer. Professor Al policy management usually. The only school of public killed with expertise and forms and do quo policy doctor thank you so much for the time. And it. Overall question. Can do it to repeat herbs regulations. And lowers taxes. And says to them. I'm an attack you would if you're going toward producing in the U skin do. I'm not sure you have to think what really what the limits are. For executive actions he's soupy congress. I suppose with a Republican congress he could get congress to back him mopped. Aware of any of these measures that you mentioned that. But I'm not sure whether that he is is something that he could do more easily the. Through executive action. I have very strong feelings about whether it should be done but I'm not sure exactly. What the constitution. Would let him. Well I see prices. And the profit. More as a symptom then as the cause of the problem. That clause Hydro operations. It is monopoly power. And the way to the way to fight monopoly power sure. It's too. Speed up the process. A lot we competition. In two into these markets. We have a number of examples of how old. Our competition even among the Rangers are aux. Lowers prices significantly. Well one example that we've had just in the last couple years. Has been the new drugs or hepatitis C. Which is. Very prevalent. Problem in the United States in the tech world wide and the first drug that came on the market. So boldly. Came out where with shocking price since. With sports and B 84000 dollars. And that relief. Got people so adrenaline running this is really scary 84000 dollars. Are. And but it wasn't more than six months later we. Or drugs entered the market. In part. Because it's so Altman was Purdue. Made so much money. And its manufacturer. Gated tactic. Makes a ton of money. And its stock price soared an. Upset that this company was doing so well. Now. The new products are common market. On the market for. A much lower price markets the market without the sport since 50000 dollars for pitched. Urgent the drug. And then there are more drugs. Awaiting FDA approval now. And so we expect prices to come down even even further. And. Border wedge so little competition lobbing. Well a couple of reasons one news. That the FDA itself from poses. Very rigorous standards for approving. New drugs and now we want them to do that because we want sixty yen we also want. Efficacy we don't want. And think drugs and and we go watch. We can avoid that we don't want drugs that aren't going to be beneficial for us. Aren't. Another factor used to that it Ayers the ideas that you're not gonna make a lot of money. Produce these. He ingesting you draw. The Rockingham drops nobody street barber. No reason to risk. A developing those new drugs. So I think we have to be careful. About certain places. Because that sends. The wrong kind of signaled to manufacturers. That if you are thinking about. Interesting new drugs. So are out there because it's if you think he'd it's going to be profitable. Note the government in particular way to profit and veteran Destin something else. Do you do if I remembered for a acting come remember a number of seventy billion a year that form as soon colts' indoor and Orrin deal in this country. And Brett and I think could reach millions of job. Or are we only one doing or indeed and and why. And don't want other countries bid of that owned the cost of forwards surge in development. Yeah that's absolutely true are so we need to war aren't the then any other country donors. The European countries altogether. Invest about as much as the United States. Does. I yelled we need to a lot of poor in the and then. We sell products worldwide. And achieved. You know other countries because of their bargaining power. All of then we do. Our own and and what went from like the news is that we should allow Medicare. To bargain over prices. It could bargain there are effective because it is is the largest purchaser in the United States. Com. There is watery. That we don't want prices to ago. Too low. Because there and that's going to stifle a whole industry. The American industry use. Very Diego on the world wide basis. People all over the world are on the American pharmaceuticals. It creates. A lot in. It's very possible industry. For the United States. We're not sure what would happen if glaciers in the United States for example. We're lowered to go global flows of champ. Canada as a as a theory. Small pharmaceutical industry. Nobody seems to be producing drug. Place to invest money. Hold hold on him and take quick break actually. Going to a doctor's Stewart Ford or use usually Putin who public L. Expertise in particular forms of school policy. We're playing bundle for design and go. To law. One Medicare Dubuque glued to negotiate. With the appointments and groups to bring that call it's Dell. Of Columbia. Think about something we've we can all be in favor of lower drug prices for it and and trump is owned ports world or who's who cool. Companies. And so look I'm I'm would reduce regulations. I'm gonna reduce a lot of Beirut call it's bought. You guys have been negotiated in particular would Medicare bring prices down. Luckily doctors through shortage from where the professor. Of health policy management views the only. Q school of public health former student quo policy one of his expertise. It's. Doctor I only go back Torre compensation. When when we've we're talking about billions of dollars being spent by members search in development in this country. And forms a goalie and doctors friends of mine tell me what you. It's lower the price of drugs. We've we've gotten paid for the roots church in development. But I I think guns to dudes say it would of often heard. We'd sell to foreign countries at a cheaper price because they've bargain. Wouldn't that made from its argument of hey you've got a bargain with Medicare. I am able. Yeah it did it sounds. Sounds easy it sounds like. We should pay the same prices and care that day so we can papers say prices that European countries pay. And why should repay board and the problem news. First of all we want a strong. Pharmaceutical industry. It's it's served very very well. For her. Because it's a profitable industry. That pays taxes. It. Good returns. Foreign exchange the exports. Of American pharmaceuticals and if help it's our knowledge based economy. Just have a strong pharmaceutical industry. The risk that we can we it is lowering. Pharmaceutical France's. By regulation. Lite approach. Is that it couldn't make the industry less profitable. Less productive. And this could shrink the industry. And all you have to do is look at countries that out very strong regulations. Against. The industry. Like camp there. And France. And Italy. And we've seen that those countries have very weak. Pharmaceutical industries and I think that that hurts the country as a whole. So yes weekend we can negotiate. But by. I don't think we should negotiate. Think in that regard he kept saying places that the Canadians. I don't think we want that I think we want. The industry to be more powerful. Then goes in other countries. Now there's another. Garland that. We've only been talking about the rain did drugs we have been talking about generic drugs. And it turns oh. Over 80%. Of power prescriptions. Are filled with junior trucks. We are we can divide older. Step on the longer to. And I was struck parts com. Largely from all cities. And prices are just fraction what. Granted. Some cost in the United States and it turns out. Because our use of generic drugs so. Turns out that artwork operations. Overall drug prices. Aren't actually higher year. And prices in Europe. Are granted. Shoes are hiker. Are only 20% of the prescriptions. Are old went right to Dropbox and urgent or share and so did. And the prices of those drugs come from overseas. Or solo. But that lowers cost or drugs. Something odd numbered. Six win gun take quick break gluten views. Working we're gonna come back comes fuel to more movements of your time. And one more thing Zorn as Cuba. Look to the a couple of companies. So called US company building huge overseas facilities. How did they bring that back. They get about drug prices. Trump wants them going down. We're doing jitterbug clothing even if you're liberal you're probably a little bit of agreement with The Who have president trump he's he's trying to lose the pharmaceutical companies. To bring drug prices to and he talked about reducing regulations. And tax loops and so more than two important things he wants to do. Still more to being bring your manufacturing. Back to this country. We're doctor's storage for a job with the Hughes you know way. You each school of public health. Doctor. Let us let us I don't know looked at a couple of companies and forgive mind you probably wrong prudent cage and and buyer abbey in Chicago. They just finished work and play in its work and plant in September. Caution 320. Million dollars. Why answer. Created a 303. Million dollar plant in China. How are they bringing that back. Well they'll bring it back. Through who. Profits. At all over. That but he can bring back to the United States. It's. There's a special issue involved in tax law says that you. It's a company to an American company. It generates profits. In another country. There rollout right now to keep that money a year. And they don't have to pay American taxes on that. Maybe today after a local taxes on that in China something or maybe they get out. He knows those taxes to. Fair news. Some pressuring congress. To change the tax law all. To encourage companies. To bring the act those formed. A search. And the incentive would be that they don't have to. Try. And and if congress change that thirty. By improves and corporate. Crony or as strong points fifteen. You'd think that would do does that match. What they're getting oversee news. If problem believe it probably wouldn't. Think companies probably want. The flexibility. To. Invest some of that money in the United States as opposed to. Keeping it keeping it in China. Or keeping all China's so yeah that would top BP. A good idea lower tax rates but especially. I was talking about two how. Foreign earned. Profits are taxed and we we create penalties. Or. Bringing that money back. Now in and we probably should. Chicks that. Night. Wouldn't play well question I'm not sure I can pull it correctly. Nugget through the question you can. I have new one which talk. About it. Good would. Probably your idol shows on health talks. I've written two books. That Morgan held costs all of the world and respected. Both of them today. The sheep. And in bad health care. Or branch lives stumble and had a 31 billion dollar as a these these. Q who. You'd to give. Health care will link in the Maloney. Excellent natural bases. And and doctors. Bullets or moon making 120000. Dollars a year. My question is on a hit in war costs you should medicine. Where the former suit quotes made some very hard for each high price. Very effective very important drugs. At the majority of people just can't report. And that. Certainly can cents. Yeah you're asking real. Good question. See. You have to look at the American health care system I think it's if it's sort of like Charles dickens'. 22 cities we got. Collapsed. World here. Four people could afford. Were people who have insurance today. By themselves or their employers. Furniture more likely employers are nascent. The best health care in the world and we know that. Because people from all over the world. Who have the money to purchase them very bet they'll care and come to where all right on the other hand. In America we out a lot of people. Are who can't afford health insurance. Who know. Don't have access to primary health care and so the only health care they get as when they go read go into emergency or. And I think it's safe at heart attack glutamate and some. Advanced cancer. Buried in there and serious. Serious shape and if you ask those people why you use your doctor years ago. States say well why couldn't afford that no doctor would take me because I don't insurance. And so we got. Kind of health care in the United States what that is absolutely. The best I'm convinced of that. Now other countries have a more equal. Kind of system. And if you were one half nuts. You'd you'd be much better off losing in France. Doctor room and fortunately. Which ahead your own children tour runner up to. Without Jews didn't live in forty minutes of dinner so thank you so much. Have agreed to are really Richards call. It. And buys hers is the governor of BO big aids 7 AM on 053 year absence. So we're been very good about president from Joan do you forms and equally in 31. Don't drug prices to come down the credit jaguar Debra booed during your people can from door at ten reports from prices them 65%. Of you say yes. If you heard in his veto of former interview with the use the only expert I'm. Pinkie can to win win you hearings today. Bed. Foreign country. Because of our. Moody's and onward search in development. Did the same drug we do and blood. They get a little more prizes big cause. They're all allow. Him to negotiate. And Medicare does not. I think it's kind of a no brainer bond. The professor did that give that little Sheen. You know wanna go to far. You know more lower the prices. Are such important. Where we're not getting cutting Carol we're getting now. But. Are getting today. Where and when I have studio professor. About currency is that is. What what is meant by that. Is rich people get the belts. Lowering income. Get the least. I did a very good exam. At a public health care problems probably. What 89 years. One of them Mayo Clinic and then sold. And I'm telling news he used and never been to a hospital liked. Each lynch. I mean it is wrong like a whole lot for. If you do your own sure proved important in. One minute late you'll get. If you show up on time they're. On top of just extraordinary. What they do what I'm saying. Is give all of their positions. A flat salary. And then they allowed them to do re search. So good become experts. In their expertise. They don't have to worry about home patients are seen. Medicare patients. On Medicare is they have got a very good salary. Nat said they get to search. I would will agree very rare problem. Very few people in the world and a there was one expert. At mayor. And he looked at me and formulated to treatment and cured. But complete and I remember is to poll. When you went to his appointment he had to. Doctor any doctor he doctors seed doctored to eat anything involved with your potential treatment. They were all there at same time. Talking to each other. About the best course of action. And it's tempting us now. And it was seeing from the people from the Middle East. From. South America. From Canada. From Australia. I you sure you. Were for a more. Foreigners. And Americans. Why the huge light beer expert doctor bridges talked to says. We have the best medicine. But. In limited and slow and had written. Me who. Cleveland clinic. And the list goes on. But they're not infinite decimal. Divide still been a janitor. An American saw him. Chemical. Or word when I was 47 years Ole. I would have had one is Sarah Palin's death them. Because when that money. The plane for a hotel. The treatment that doctors. Thought god concierge treatment. And that what I think is com. Those who can afford it. I moved. Those that can important. Quite a bit but there. Are good hospitals outside problem ones I mentioned gift that. One of the lower income. Treatment is not going to be new year. The belts free. And again if you go to the buried house. Medical perimeter of the world brands Singapore Australia. Or all the same. Could be what's coming. Something very different from what we Percy. Governor bailed figured 70 AM and five to reopen. Already. Scooters that's president Trump's head ruled appearance at Harley-Davidson. Factory in Milwaukee. Was cancel over concerns about planned protest. Protests are protected. By the First Amendment bootable protest group in each for you free speech. Does that. Client who approached amendment. Close it is good to have president Trump's ring cord Genesys pick George new courts and each. Brutal. The Democrat should act like liberal Republicans when the bureau didn't start. Which party is more obstructive and do you have feet in the Supreme Court. At a much more coming up on screwed doing I've grown wedded to draw and weaker oil and so intently. Thank him for keeping the show together mpeg Jung worker has to listen to me singing some elements of immediate relief goods. Thank you Roloson. Have a great day. This is W ago brigades celebrity you know one of 53. Ethnic.