In response to high pricing (not high cost, high prices) of pharmaceuticals, the Trump administration is writing higher drug prices into international trade deals.
This isn't lowering prices, it's just hurting other people.
The Trump administration’s position on drug prices is that Americans pay too much while other countries don’t pay nearly enough. A new trade deal with the United Kingdom is addressing that imbalance, raising prices the national health system will pay for new medicines in exchange for tariff exemptions on U.K. pharmaceutical exports valued at about $3.5 billion a year.
The deal announced Monday is an update to a broad trade deal the U.S. struck with the U.K. in May. While the countries describe this new deal as an “agreement in principle,” it sets a precedent that could shape pharmaceutical pacts the Trump administration is still pursuing with other countries.
Before the U.K.’s National Health Service (NHS) can use a new medicine, it must first be evaluated by the government’s National Institute for Health and Care Excellence (NICE), which assesses a drug’s cost effectiveness to the health service. NICE’s current cost effectiveness benchmark is a range of £20,000 to £30,000 (about $26,412 to $39,618) per quality adjusted life year. That means a cost-effective drug should lead to the equivalent of one additional year of health and improved quality of life for no greater than £20,000 to £30,000 more than the cost of the current standard of care. Consequently, a drug shown to be safe and therapeutically effective in clinical trials may end up being turned down by NICE because it is not cost effective, though the agency said it applies a higher threshold for medicines developed for ultra-rare conditions.
This is ineluctably evil.
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