https://wapo.st/2EAFXF0
More in the full article.
Background reading:
Investigation of generic 'cartel' expands to 300 drugs
https://wapo.st/2rrKD7F
Forty-seven states and the Justice Department are investigating a price-fixing conspiracy that's driving up the cost of generic drugs in the United States. One investigator called it "most likely the largest cartel in the history of the United States ." This crisis calls for action. That is why I'm introducing legislation to authorize the public manufacture of generic drugs wherever drug companies have warped markets to drive up prices.
Drug companies use the "free market" as a shield against any effort to reduce prices for families. But they're not operating in a free market; they're operating in a market that's rigged to line their pockets and limit competition. The entire pharmaceutical industry in reality runs on government-granted monopolies, mostly in the form of long-term patent protections.
The Affordable Drug Manufacturing Act would allow the Department of Health and Human Services to step in where the market has failed. HHS would manufacture or contract for the manufacture of generic drugs in cases in which no company is manufacturing a drug, when only one or two companies manufacture a drug and its price has spiked, when the drug is in shortage, or when a medicine listed as essential by the World Health Organization faces limited competition and high prices.
Public manufacturing will be used to fix markets, not replace them. The Affordable Drug Manufacturing Act would allow the government to manufacture generic drugs at lower costs or contract with manufacturers to produce the drugs at competitive prices. And if a potential manufacturer thinks it can do better, the bill provides that the license to manufacture the drug is continually offered for sale, with the only condition being that the buyer would agree to keep selling the product to consumers at competitive prices.
Sound radical? It isn't. The federal government already contracts with private manufacturers to produce stockpiles of drugs critical to protecting and treating Americans in the event of a biological, chemical or nuclear attack. My proposal would use similar tools to address the public health crisis resulting from unaffordable medicines.
More in the full article.
Background reading:
Investigation of generic 'cartel' expands to 300 drugs
https://wapo.st/2rrKD7F
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