Democratic Primaries

left-of-center2012

(34,195 posts) Tue Jan 28, 2020, 12:44 PM Jan 2020

Bloomberg Seeks to Limit Drug Patent Protection to Reduce Costs

Democratic presidential Michael Bloomberg would seek to reduce the cost of prescription drugs with a plan that includes limiting new brand-name drugs to a single patent to get lower-priced generics to the market faster.

There have been unsuccessful efforts to limit so-called “evergreening,” or obtaining multiple patents to extend exclusivity in the past. But the 2020 Democratic presidential candidate said he would work with Congress to ensure only qualifying products get 20-year patent protection to stop manufacturers from slowing the introduction of generics.

Bloomberg is also proposing capping out-of-pocket drug spending for Medicare beneficiaries at $2,000 a year in addition to steps other Democratic presidential candidates have proposed, including authorizing Medicare to negotiate drug prices and allowing Americans to buy medicine from other countries with adequate quality control.

https://www.bloomberg.com/news/articles/2020-01-27/bloomberg-seeks-to-limit-drug-patent-protection-to-reduce-costs

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

8 replies

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Bloomberg Seeks to Limit Drug Patent Protection to Reduce Costs (Original Post) left-of-center2012 Jan 2020 OP

like him more and more. mopinko Jan 2020 #1

He endorsed Scott Brown over your candidate when she ran for Senate FYI nt liskddksil Jan 2020 #5

and he funded half the blue wave. mopinko Jan 2020 #6

Debatable when he was continuing even in 2018 to fund Republicans but liskddksil Jan 2020 #8

I have learned a lot watching my husband go through the drug discovery work. redstatebluegirl Jan 2020 #2

It's not just drugs... but technology too lapfog_1 Jan 2020 #4

the "evergreening" limitation on patent protection lapfog_1 Jan 2020 #3

K&R highplainsdem Jan 2020 #7

mopinko

(70,272 posts)

1. like him more and more.

Reply to left-of-center2012 (Original post)

Tue Jan 28, 2020, 12:52 PM

Jan 2020

smart cookie, and good problem solver.

If I were to vote in a presidential
primary today, I would vote for: Undecided

liskddksil

(2,753 posts)

5. He endorsed Scott Brown over your candidate when she ran for Senate FYI nt

Reply to mopinko (Reply #1)

Tue Jan 28, 2020, 01:02 PM

Jan 2020

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

mopinko

(70,272 posts)

6. and he funded half the blue wave.

Reply to liskddksil (Reply #5)

Tue Jan 28, 2020, 01:03 PM

Jan 2020

purity tests accomplish nothing.

If I were to vote in a presidential
primary today, I would vote for: Undecided

liskddksil

(2,753 posts)

8. Debatable when he was continuing even in 2018 to fund Republicans but

Reply to mopinko (Reply #6)

Tue Jan 28, 2020, 01:06 PM

Jan 2020

anyways speaking on behalf of George W. Bush in itself is completely and utterly disqualifying for anyone wanting to be the Democratic Party's Presidential Nominee.

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

redstatebluegirl

(12,265 posts)

2. I have learned a lot watching my husband go through the drug discovery work.

Reply to left-of-center2012 (Original post)

Tue Jan 28, 2020, 12:53 PM

Jan 2020

Truth is, when a drug is found that might be cheaper to produce than one that is currently being used, the drug companies may buy the patent in order to "put it in a drawer" so it never sees the light of day. I had no idea they did this kind of thing, but they do according to people my husband has met during his research.

Someone we know has a potential drug for a nasty infection that would cost a tenth of the current drugs available. It is also more likely to "cure it" rather than "treat it". They don't want to cure anything, they want someone to have to be on some type of medication forever, they make more money that way. They will do anything to increase their bottom line.

We should insist on congressional investigations of these drug companies, yes I know this will never happen because of the money they donate to campaigns, but the crazy cost of medicine is a major reason healthcare costs are what they are.

What I have learned going to meetings with my husband the past few years is unbelievable. I know we have to go slowly, but I don't think anyone other than the drug companies would have a problem with investigating their business practices.

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

lapfog_1

(29,228 posts)

4. It's not just drugs... but technology too

Reply to redstatebluegirl (Reply #2)

Tue Jan 28, 2020, 01:01 PM

Jan 2020

I started my own company with new technology for doing computer data backups... a field that hadn't really seen much innovation for decades (every night you put tapes in a robot and fire off a backup software and the next day or so, you take the tapes and send them to Iron Mountain or something... state of the art in 1980... and in 2000... and in 2010).

My company was purchased in 2005... and the company that purchased my little company shelved all of the technology... and only used the patents to sue other companies working on developing the same sort of technology. They made tons of money in law suits and legal fees and licensing.

My technology is still ahead of what is available today, now 15 years later.

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

lapfog_1

(29,228 posts)

3. the "evergreening" limitation on patent protection

Reply to left-of-center2012 (Original post)

Tue Jan 28, 2020, 12:53 PM

Jan 2020

is an excellent idea. One that should be adopted by the rest of the candidates.

We need to reduce the cost of health care... not just raise taxes to pay for the current system in a M4A plan.

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

highplainsdem

(49,050 posts)

7. K&R

Reply to left-of-center2012 (Original post)

Tue Jan 28, 2020, 01:04 PM

Jan 2020

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

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