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Our Founders' Warning: “Every government degenerates when trusted to the rulers of the people alone. The people themselves are its only safe depositories.” (Thomas Jefferson)

Prescription Healthcare Drug Price Control

Pharmaceuticals Prescription drug companies in the U.S. charge exorbitant prices simply because they can. And they can because a majority of those in Congress
Pharmaceuticals

Prescription drug companies in the U.S. charge exorbitant prices simply because they can. And they can because a majority of those in Congress and other areas of government are unable to resist the huge personal benefits arising from their corruption by drug companies.

Medicare alone spends over a billion dollars a year; astonishingly, Congressional legislation makes it illegal for Medicare to negotiate with drug companies, though private healthcare plans can negotiate. By itself, this private negotiating power looks beneficial, but it causes a highly fractured market where each buyer has little power to make a good deal with big pharma.

Total lobbying spending in 2016 was $3.15 Billion with 9.617 registered lobbyists (OpenSecrets); Pharmaceutical/Health’s portion was $78 Million with 1,149 lobbyists (OpenSecrets). Comparisons and explanations are shown in a 3-min. video. Total drug sales in the U.S are now 446 billion per year (46% of worldwide drug sales) (Statista).

Periodically, a bill is introduced in Congress (e,g, in 2015, 114th Congress, 1st Session S. 31, latest action:
01/06/2015 Read twice and referred to the Committee on Finance)  to resolve this issue, but they always fail under big-pharma’s gigantic influence. An Indirect Initiative containing this type of bill could be proposed by the People, approved by the IQA, and sent to Congress – a straightforward process. If it were not passed without good reason in Congress, then the IQA could process it as a Direct Initiative for the People’s vote at the next Federal Election.