In the Coronavirus/Covid-19 Pandemic Age Come Ideas for Drug Price Reform
In the coronavirus/covid-19 pandemic age drug reform is topical.
According to Dr. Steven Goldstein on his podcast, “without meaningful modification, drug prices and pressure on patient’s ability to pay and manufacturers resources for discovery will reach a tipping point.” Dr. Steven Goldstein lists the reasons for the discrepancy and how the U.S. could reform the laws that govern the ways therapeutic medicine gets from the lab bench all the way to the patient for whom it is intended.
Some of these include:
- Reform drug patent law. The patent system for drugs needs to be reformed so that drug development costs can be recouped along with a profit. Once this occurs, the patent should expire.
- Streamline approval. The FDA needs reform so that drug authorizations are more efficient. Possibly, an international FDA funded by a consortium of countries could approve drugs.
- Eliminate monetary incentives from drug companies for writing prescriptions.
- Drug discounts to insurance companies and Medicare should be illegal.
- Enforce the laws already passed. Antitrust laws for price collusion need to be enforced.