this post was submitted on 30 Aug 2023
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“This was an unexpected victory in a long fight against an illegal cartel of three corporations who have raised their insulin prices in lockstep.”

The Biden Administration pleasantly stunned health care reform advocates Tuesday by including short-acting insulin in its list of 10 drugs for which Medicare will negotiate lower prices, power vested in the White House by the Inflation Reduction Act.

The IRA was passed in the face of one of the heftiest barrages of lobbying in congressional history, with the pharmaceutical industry spending more than $700 million over 2021 and 2022 — several times more than the second- and third-ranking industries — much of it aimed at stopping the legislation, watering it down, or undermining its implementation.

(page 3) 25 comments
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[–] upernikos@lemmy.world -3 points 1 year ago (3 children)

Dumb idea, I know nothing about this all. What about alternatively opening up across-the-border purchases, allowing people to legally buy from other countries at a fraction of current US prices. Drug companies can still set their US, uncontrolled prices at whatever they want, & no one has to buy it from them. It'd be like, a Free Market at work. I know this is oversimplified & there's a lot of complications I'm not aware of, but, just a thought. Also, speaking of unconstitutional, isn't group collusion to manipulate the market a violation of Sherman Anti-Trust law? Just saying.

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[–] lntl@lemmy.ml -3 points 1 year ago (1 children)

this is going to kill stock prices. sell! sell! sell!

[–] EdibleFriend@lemmy.world 1 points 1 year ago
[–] K1nsey6@lemmy.world -5 points 1 year ago

Another song and dance, the guy that been the highest recipient of pharma lobbying isnt gonna hurt their profits. The shellgame will just shift money around until election day to make it look like hes doing good for us

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