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The Democrats like to present themselves as the party of science, but two recent announcements show just how ignorant they are about how science moves from the lab into our medicine cabinet.
The first announcement was results from Pfizer’s clinical trial of its new anti-viral treatment for COVID-19. The treatment reduced hospital admissions in high-risk individuals by a stunning 90 percent compared to those receiving a placebo. Even more remarkably, not a single person receiving the treatment died. The second announcement was that Democrats reached an agreement on a measure that would disrupt and ultimately cripple the life sciences investment system that helps make breakthroughs like this possible.
SANDERS DEMANDS LOWER DRUG PRICES, RECONCILIATION FRAMEWORK
The Democrats’ destructive proposal would allow Medicare to dictate the price it pays for certain classes of drugs. The Democrats call their price dictation plan “negotiation,” but like so much of political language, this word choice is a deliberate lie. The arrangement’s structure gives the government all the leverage, including a penalty tax of 95 percent on gross sales of the drug if the manufacturer refuses the government’s demand.
Considering it takes on average over $2 billion or more in investments, and over 10 years development time, to bring a new drug to market, who would risk this capital if after all that time and money the government imposes an arbitrary price in which there may be no adequate return on investments?
While House Speaker Nancy Pelosi, D-Calif., and Sen. Bernie Sanders, I-Vt. prioritized short-term dollar signs over long-term implications for patients, so-called moderate Democrats were able to narrow the number of drugs eligible for price dictation to those whose exclusivity period has worn off. Yet, even this compromise is ill-conceived.
We already have a highly successful system of lowering costs on drugs past their…
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Source : foxnews
