For months, the Trade Alliance to Promote Prosperity has written about how H.R. 3, the “Lower Drugs Costs Now” Act, would be detrimental to American healthcare and to Americans’ health…
Read MoreThe Council of Economic Advisors just came out with a new analysis of H.R. 3, the “Lower Drug Costs Now Act of 2019.”
This bill seeks to lower prices for certain drugs by forcing drug manufacturers to accept prices set by the federal government or otherwise…
Read MoreOver the Thanksgiving holiday weekend, we passed a milestone: It’s now been over one year since President Trump signed the U.S.-Mexico-Canada Agreement (USMCA) on trade—over a year! The holdup: House Speaker Nancy Pelosi…
Read MoreTime is running out for Congress to approve the USMCA, and some members of Congress are expressing frustration with the leadership. Senate Finance Committee Chairman Chuck Grassley (R-Iowa), previously optimistic about passage, has said he is now concerned about ratification of the USMCA…
Read MoreMost people probably agree that there should be protections against the criminals who pirate films, violate patents, plagiarize books and counterfeit artworks. Time and again, we have heard stories about imitations coming from overseas. Thus, it is especially important that American innovators…
Read MoreWord on the Hill is that House Speaker Nancy Pelosi might be trying to strip the US-Mexico-Canada Agreement (USMCA) of its Intellectual Property chapter. Yet one of the greatest benefits of the USMCA over its precursor, NAFTA, is that it strengthens intellectual property protections for American innovators.
Here are some of the comparisons:…
Read MoreU.S. House Speaker Nancy Pelosi has proposed a sweeping prescription drug bill that would hurt patients and stifle innovation. Her bill, H.R. 3, would impose crushing taxes…
Read MoreIn the upcoming days, committees in the U.S. House of Representatives will discuss H.R. 3, Speaker Nancy Pelosi’s radical prescription drug pricing bill that would impose a tax of up to 95 percent (!) on hundreds of prescription drugs. This draconian bill would also…
Read MoreOn Wall Street, stock and commodity prices climbed immediately, suggesting that the president’s optimism over the prospect of a deal with China was infectious. Indeed, many on Wall Street and across the country were waiting eagerly to hear positive news come from the talks with China after weeks and even months of stalemate…
Read MoreLast week, U.S. Rep. David Cicilline of Rhode Island introduced the “Affordable Prescriptions for Patients Through Promoting Competition Act,” which could more accurately have been named the…
Read MoreIn the 1980s, European investment in drug research was 24 percent higher than in the United States. But then, European officials decided to impose socialist price controls. Today, European investment in drug research is 40 percent lower than American investment is…
Read MoreLast week, a memo highlighting key elements of House Speaker Nancy Pelosi’s long-awaited drug price negotiation bill (“H.R. 3”) was leaked through Bloomberg Law. The bill might be changed before official introduction, but its draft form is extreme. We have the following concerns…
Read MoreThe message out of the just-concluded G7 meeting in France: Uncertainty is holding us back—all of us. This uncertainty stems from the Trump Administration’s capricious trade wars.
It is bad enough that America is engaging in trade wars in the first place, and the seeming whimsy with which…
Read MoreThe world economy is showing signs of weakness, and many analysts are predicting a recession. There are plenty of signals to support the predictions. According to Bloomberg, China reported the weakest growth in industrial output since 2000; Germany’s economy shrank as exports slumped; and euro-area production plunged the most in more than three years as the overall expansion cooled…
Read MoreThe United States Mexico Canada Agreement (USMCA) presents a much-needed update, better showcasing a modern approach to trade with the U.S.’s closest trading partners, Canada and Mexico. When it comes to “winners” and “losers” in a trade agreement, the USMCA represents a significant win for the United States.
Read MoreTrump Administration’s “Safe Importation Action Plan” Is Downright Dangerous
On July 31, the Trump Administration announced the “Safe Importation Action Plan” that would allow for the importation of prescription drugs from foreign markets: 1) States, wholesalers, or pharmacists could develop pilot projects to facilitate the importation of certain drugs from Canada; 2) manufacturers could reroute certain versions of FDA-approved drugs originally sold in foreign markets back into the U.S. at lower prices. This is bad plan.
Read MoreRumored proposals being considered in Congress would institute a government-imposed inflation rebate on Medicare Part D medicines, which would put the program’s successful market-based structure at risk. For seniors who rely on the program to access innovative medications, this is unacceptable…
Read MoreRecently, Sen. Rick Scott (R-FL) introduced S. 977, the “Transparent Drug Pricing Act.” This bill is another attempt to curb prescription drug prices by starting a race to the bottom. S. 977 would prevent pharmaceutical companies from charging a retail price for a drug that is higher than the lowest cost for the same drug found in five other countries: Canada, France, Germany, Japan and the United Kingdom (U.K.). This scheme links drug prices on prices paid in a handful of countries with socialized medicine, where government bureaucrats undervalue and tightly ration access to lifesaving drugs developed here in America. It’s a ridiculous, dangerous idea that flies in the face of the President’s promise to unleash free market forces into the health care industry, and put a stop to decades of exploitation of U.S. intellectual property by foreign governments.
Trade Alliance to Promote Prosperity Urges Opposition to S. 977, the Transparent Drug Pricing Act
Read MoreThe Trump Administration has proposed using its demonstration authority under the Social Security Act to test a method of reimbursement for physician-administered drugs (Medicare Part B) based on prices in 14 countries.
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“A race to the bottom” that nobody wins. That might be the best way to describe a hastily drawn, Bernie Sanders-inspired “International Price Index” scheme by Health & Human Services (HHS) Secretary Alex Azar to base U.S. Medicare Part B drug prices on prices paid in a handful of countries with…
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