Donald Trump Involved in the Pharmaceutical Industry – Business

The United States has the highest drug costs in the world. The average American pays $ 1,100 a year for drugs. One in four can not take pills regularly because of high prices. Unlike Germany, for example, the US government does not regulate prices. The pharmaceutical companies then determine what they can achieve on the market. The industry argues that it needs high prices to develop new drugs. Critics point to high margins, marketing budgets and executive salaries.

For some time now, the industry has come under closer scrutiny – not just because of Trump. Recently, there have been two cases that have irritated many Americans. The young pharmaceutical director Martin Shkreli had bought a former, formerly very cheap anti-parasitism, often given to babies and people living with HIV / AIDS, with his Turing company and had suddenly raised the price by 5000%. This earned him the title of "most hated man in America". Shortly after, the pharmaceutical company Mylan manufactured the EpiPen anti-allergic pen in stages 400% more expensive. This case has even been the subject of Congressional hearings.

Trump had already repeatedly criticized drug prices in the United States, but mostly only with tweets or slogans during campaign events. Concrete legislative changes are not yet pending. Nevertheless, some pharmaceutical companies have pledged to raise the price once more twice a year instead of the usual price increases and to keep the increases below ten percent as much as possible. Pfizer was not one of them. Trump announced in May that even "mbadive" voluntary price cuts are imminent. Until now, nothing has been seen. As a result, it did not suit the US President that Pfizer has now done the opposite. According to the pharmaceutical companies, catalog prices do not necessarily mean an increase in profits or costs for patients, because they often give discounts, especially to compete with intermediaries who negotiate health insurance against competition.

Bernie Sanders also replies to Trumps Tweet

Pfizer CEO Ian Read defends his industry again and again. In recent years, the cost of prescription drugs has remained relatively stable in the United States, given the share of total health expenditures. The fact that drugs for patients are more expensive is not due to manufacturers, but health insurance, for example, increases the deductibles. "It's not about the price of drugs, the affordability of drugs is the problem," he said.

Bernie Sanders, a Vermont left-wing senator, also commented on the subject via Twitter: "Stop high drug prices talk @ real-DonaldTrump," he writes. "If you're serious about the issue, you should encourage your Republican friends in Congress to pbad a law that will allow Medicare to negotiate drug prices and allow the importation of safe and inexpensive drugs from Canada and from other countries. Medicare is public health insurance for people over 65 years old. It has over 58 million customers – and therefore a lot of power, which it does not yet use for drug price negotiations.