Whether you like President Trump or not, you have to give him credit for moving things forward. The man does have guts and does not bow down to political pressure from corporate lobbyists and other special interest groups. Unbelievable the pace of the current Administration getting things done. One thing about electing a business person is they act like a business person. They make decisions that are in the best interest of their interests not of what the public media tells them to do. So will the President revamp the way the pharmaceutical industry has been operating for years?
A little background:
For years The Federal Drug Administration (FDA) has required that pharmaceutical companies spend many years and dollars on research and development (R&D) to in order to introduce a new prescription drug to the American market. Recent numbers indicate that drug companies spend as much as 2.6 billion* in order to bring a new drug to the market. Many of the new drugs introduced to the market every year make any money and very few of them are prozac or viagra type that produce profits for the company that introduce them. Not only do many of the drugs produced require extensive R&D but they require millions of dollars in marketing to medical providers and potential patients. So how do other countries come into play when the President claims that the filed is unfair to America? Very simple, other countries wait until the FDA requirements are met and then they allow the sale of the drug to their people. Often you find many drugs that require a doctor’s prescription in the US, while being purchased in other countries over the counter. Until we take politic influence out of the American healthcare we will have a prescription delivery system that favors redundancy and waste and does little to provide the care that so many Americans need.
If the Trump administration relaxes FDA requirements and allows greater competition with the drug markets, consumers will see prescription costs become more affordable.
* source *https://www.scientificamerican.com/article/cost-to-develop-new-pharmaceutical-drug-now-exceeds-2-5b/