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https://www.washingtonpost.com/news/post-politics/wp/2015/11...

I guess they blew their budget for investigations already on Hillary's emails?
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Paul W
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By Republicans, you mean Republican, right? Not sure what's going on with that one chairman, but it looks like there are a number of republicans wanting to look at the issue, and the Republican-controlled Senate has already started hearings on the matter. Framing it as a matter of partisanship generally instead of an issue with one house member seems counterproductive.
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I'm kind of down on congressional investigations at the moment. They seem to be almost pure politics, with very little actual substance.
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Republicans behaving badly. Who would have thought ?? shake

 
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rinelk wrote:
I'm kind of down on congressional investigations at the moment. They seem to be almost pure politics, with very little actual substance.
You are correct, they are nonsense. The FDA is already doing the real investigation. The only reason they do 99% of the investigations is for a political stunt.
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What exact law are the pharmaceutical companies breaking that Congress should investigate? I mean, it's shitty of them to do, but what law is it breaking?

You know, maybe they could invest this much energy into litigating the loopholes that are keeping other generics off the market instead of holding hearings where they can pretend that they are doing something.
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Deleted112516 wrote:
What exact law are the pharmaceutical companies breaking that Congress should investigate? I mean, it's shitty of them to do, but what law is it breaking?

You know, maybe they could invest this much energy into litigating the loopholes that are keeping other generics off the market instead of holding hearings where they can pretend that they are doing something.
I was thinking the same thing. There are anti-gouging laws, but that's usually for food staples and fuel and usually only applies to the period during the after effects of a large disaster.
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Deleted112516 wrote:
holding hearings where they can pretend that they are doing something.
Maybe this part is the whole point.
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as long as republican candidates are in the spotlight debating real issues.
When the hell has that happened ?? You must have watched different debates than the ones the rest of the country has watched.
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Koldfoot wrote:
As a pure political move it is sound. Drug pricing is probably not in the top 50 issues that concern voters this election cycle. Let the dems continue to harp on a losing issue, as long as republican candidates are in the spotlight debating real issues.

On the other hand, every time congress wants to investigate something my first inclination is to say congress are the bastards that need to be investigated.
I assure you, given the growing size of the over 65 population in this country, drug pricing is probably their BIGGEST issue to contend with, as most are on fixed incomes. True, it's probably not as big an issue for those that don't utilize prescriptions extensively, but it surely is an issue to one who might be gouged by the pricing. Heard on the radio today about one of the legislators (Cummings was his name i believe), who indicated that one pharmaceutical raised one drug from $13.50 to $750 overnight. If true, there can be no explanation for it save the desire to make a heap of money, at the expense of the poor that cannot afford the drug.
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abadolato01 wrote:
Koldfoot wrote:
As a pure political move it is sound. Drug pricing is probably not in the top 50 issues that concern voters this election cycle. Let the dems continue to harp on a losing issue, as long as republican candidates are in the spotlight debating real issues.

On the other hand, every time congress wants to investigate something my first inclination is to say congress are the bastards that need to be investigated.
I assure you, given the growing size of the over 65 population in this country, drug pricing is probably their BIGGEST issue to contend with, as most are on fixed incomes. True, it's probably not as big an issue for those that don't utilize prescriptions extensively, but it surely is an issue to one who might be gouged by the pricing. Heard on the radio today about one of the legislators (Cummings was his name i believe), who indicated that one pharmaceutical raised one drug from $13.50 to $750 overnight. If true, there can be no explanation for it save the desire to make a heap of money, at the expense of the poor that cannot afford the drug.
The US spent $260 billion on prescription drugs in 2014, it is no small problem. Total spending on drugs has risen much faster than the rest of medical spending and a lot of that is due to the pricing of the drugs themselves (generally rising in the range of 8 to 10% per year). I seriously doubt that the costs of manufacturing the drugs is going up that fast, in fact I'd bet the cost has been dropping, as it tends to do with most manufacturing processes.
 
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Deleted112516 wrote:
What exact law are the pharmaceutical companies breaking that Congress should investigate? I mean, it's shitty of them to do, but what law is it breaking?
They don't have to be breaking a law for there to be a Congressional Hearing. The Hearing could be just to gather information about the reasons for high drug prices in order to create legislation to combat the problem. As an example, they could find that regulations could be a big cause and then they could change the laws to help the issue.
 
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jmilum wrote:
Deleted112516 wrote:
What exact law are the pharmaceutical companies breaking that Congress should investigate? I mean, it's shitty of them to do, but what law is it breaking?
They don't have to be breaking a law for there to be a Congressional Hearing. The Hearing could be just to gather information about the reasons for high drug prices in order to create legislation to combat the problem. As an example, they could find that regulations could be a big cause and then they could change the laws to help the issue.
There have been several articles written about what they could do to close various loopholes in the law. Yet they do nada. That said, I don't really have a problem with them subpoenaing Turing and Valeant, even if it is probably a bit motivated by public shaming. But that's not all they should do. They should also be subpoenaing any generics that are interested in entering the market (to see WHY they can't), as well as members of the FDA (to question them about why certain FDA rules and decisions made it hard for other generics to get on the market).

Unfortunately, I think this is more about grandstanding:

"My constituents are dying," Ranking Member Elijah E. Cummings (D-Md.) said at a news conference Wednesday morning. "They are dying because they cannot get a cure."
 
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Price gouging is illegal in many states. Grandstanding is simply a political tactic to get attention on the issue. Although Cummings statements seem grandiose and exaggerated, the increase in drug prices should be examined with careful scrutiny, to determine if gouging is taking place. Notwithstanding the need to fund the research of drug production, and costs required to bring drugs to market, how much profit is too much profit? Most profit margins in most businesses range from 1% to maybe 20% max. If they are making more than that on drug sales, is it too much?
 
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abadolato01 wrote:
Price gouging is illegal in many states. Grandstanding is simply a political tactic to get attention on the issue. Although Cummings statements seem grandiose and exaggerated, the increase in drug prices should be examined with careful scrutiny, to determine if gouging is taking place. Notwithstanding the need to fund the research of drug production, and costs required to bring drugs to market, how much profit is too much profit? Most profit margins in most businesses range from 1% to maybe 20% max. If they are making more than that on drug sales, is it too much?
My point is that it's rather inefficient to go after one company at a time for price gouging, instead of addressing the root problem which is the lack of competition.
 
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Deleted112516 wrote:
jmilum wrote:
Deleted112516 wrote:
What exact law are the pharmaceutical companies breaking that Congress should investigate? I mean, it's shitty of them to do, but what law is it breaking?
They don't have to be breaking a law for there to be a Congressional Hearing. The Hearing could be just to gather information about the reasons for high drug prices in order to create legislation to combat the problem. As an example, they could find that regulations could be a big cause and then they could change the laws to help the issue.
There have been several articles written about what they could do to close various loopholes in the law. Yet they do nada. That said, I don't really have a problem with them subpoenaing Turing and Valeant, even if it is probably a bit motivated by public shaming. But that's not all they should do. They should also be subpoenaing any generics that are interested in entering the market (to see WHY they can't), as well as members of the FDA (to question them about why certain FDA rules and decisions made it hard for other generics to get on the market).

Unfortunately, I think this is more about grandstanding:

"My constituents are dying," Ranking Member Elijah E. Cummings (D-Md.) said at a news conference Wednesday morning. "They are dying because they cannot get a cure."
I agree. My point was that using "breaking a law" as the only justification for a Congressional Hearing is not quite right.
 
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