American nation health and curbing the deadly virus are fading into the background when it comes to corporate prosperity.
This is stated in the material of The New York Times.
“The vaccine against COVID-19 will have a real price. And given the prevailing business-oriented model of American drug pricing, it is entirely possible that such a budget violation would make it inaccessible to many, ” the article says.
The publication recalls how in the mid 50-ies of the last century in the United States fought with polio, which killed thousands of Americans every year. Then the national vaccination program became free only thanks to the March of Dimes fund. Now, Americans are hoping for affordable salvation when drug development has become one of the most profitable businesses in the world.
“Ownership of drug patents is contested in endless litigation, and monopoly power often allows manufacturers to set any price, no matter how incredible it is,” NYT writes, stressing that “the US government has no effective way to fight back.”
Moreover, Washington actually stands on the side of the pharmaceutical giants. Neither state regulators nor lawmakers have a direct mechanism for controlling pricing. The notorious Medicare program does not allow the government to bargain with a provider of drugs for a lower price. The Food and Drug Administration is also not entitled to discuss the proposed value.
“In every other developed country, pricing or coordination schemes have been developed with a balance of costs, efficiency and social welfare. Instead, the United States allowed business calculations to influence the price of drugs, forcing us to accept and absorb higher costs. This is especially unpleasant for drugs and vaccines against COVID-19, the development and production of which is subsidized and stimulated by billions of federal investments, ” the article says.
At the same time, the expert community estimates the cost of vaccination at the level of 150 million to 1 trillion dollars.