Wednesday, September 18, 2019

The Democrats want to drive up your drug prices and deny you medicine

Hundreds of thousands of life years have been saved in America because Americans get drugs before those drugs are available in other countries. Of drugs introduced in the 2011 to 2018 time frame Americans have access to 89% while only folks in England only have access to 60%.  Canadians, Australians, and the French have access to less than 50% of those medicines.

The limited access is due to the same sort of policies that Nancy Pelosi wants to impose.  Essentially if the government sets the price for drugs companies will be less willing to invest billions in developing new ones since the odds of the companies recouping their investment, much less making a profit, go down.

In the mid 1980s European companies were spending 24% more on developing new drugs than American companies were. After Europe imposed drug price controls that changed. By 2015 they were spending 40% less than US companies.  That means that Americans were living longer because we had more access to medicines that make a difference.

There is every reason to believe that if the Democrats emulate the Europeans and impose price controls on medicines that Americans will suffer.  Yet the Democrats don't seem to care.

All Pelosi seems to care about is winning elections and getting more power even if that means she is hurting her fellow Americans.

What's bizarre is that people like Nancy Pelosi don't give their own money to the poor but they expect companies to give away their products.


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