Consider H.R. 3, the Lower Drug Costs Now Act, and what it can mean for US taxpayers.

[guillaumeb]

H.R.3 is designed fix the enormous problem of many Americans being unable to afford their prescription drugs. In 2016, the last year for which figures are available, Americans spent $460 billion on drugs, 16.7% of total spending, while people outside of the US spent 56% of those US numbers for the exact same drugs.
Many seniors speak of having to choose between food and medication, and speak also of splitting pills to reduce refill costs.
Every time that Congress suggests doing something about pharmaceutical costs, Big Pharma warns that research and health outcomes will suffer.

Big Pharma is quick to take credit for developing new drugs, or modifications to existing patented drugs, but much basic research is done by the NIH, the National Institute for Health. Our tax dollars fund basic research, and the drug companies profit from that research.
Many are unaware that Big Pharma spends far more on advertising than research. And this advertising is taxpayer subsidized in that those advertising costs reduce taxable income by the companies. Much of that advertising is spent to influence physicians, and much is spent on the commercials that we all see promoting one drug over another.

Many might also not know how massively profitable Big Pharma actually is. In fact, the median annual profit margins of pharmaceutical companies were significantly greater than those of S&P 500 companies. Research has found a 39.1% difference in gross profit margin, 76.5% for pharma companies and 37.4% for the S&P companies.
In addition, pharmaceutical companies contribute heavily to US politicians. Money, being speech, speaks very loudly.
H.R. 3, the Lower Drug Costs Now Act, is designed to reign in these out of control costs. Costs that have no relationship with actual research. Costs that ensure that you and I will pay more for the exact same drugs that our Canadian neighbors can buy at a much lower cost.
The exact same drugs.

Please contact your Representative about this Bill.

This is the text of a letter that I sent to local papers.

[Budi]

1. Here's the link from Speaker Pelosi on the Elija Cumming's H.R. 3

https://www.speaker.gov/LowerDrugCosts


Here's the bill introduced by Rep Frank Pallone Rep. Pallone, Frank, Jr. [D-NJ-6] (Introduced 09/19/2019)
Committees: House - Energy and Commerce; Ways and Means; Education and Labor

https://www.congress.gov/bill/116th-congress/house-bill/3


Passed House (12/12/2019)
Elijah E. Cummings Lower Drug Costs Now Act

This bill establishes several programs and requirements relating to the prices of prescription drugs, health care coverage and costs, and public health.

TITLE I--LOWERING PRICES THROUGH FAIR DRUG PRICE NEGOTIATION

[guillaumeb]

2. Yet another great Bill that the GOP will obstruct and oppose. eom

[Budi]

3. Well sure. When Pharma is doing that trickle down thing with profit$ into the political campaigns..

Why would a pol wanna give THAT up?
$$$$$

[crickets]

4. K&R for visibility.