Read on Twitter
There are so many things wrong with this new #Trump Executive Order commanding purchase of exclusively American-made essential pharmaceuticals that I hardly know where to begin.
It seeks to put "Buy American" principles on 1000s of medicines.
MORE https://www.thestreet.com/investing/trump-signs-executive-order-on-domestic-pharma-purchases
It seeks to put "Buy American" principles on 1000s of medicines.
MORE https://www.thestreet.com/investing/trump-signs-executive-order-on-domestic-pharma-purchases
2/
Start with this: What makes a drug "American?"
Some 90% of the active pharmaceutical ingredients (APIs) in US-company's drugs are actually made in either China or India. And abt 80+% of generic drugs sold in US, no matter how they are labelled, are made in C or I.
MORE
Start with this: What makes a drug "American?"
Some 90% of the active pharmaceutical ingredients (APIs) in US-company's drugs are actually made in either China or India. And abt 80+% of generic drugs sold in US, no matter how they are labelled, are made in C or I.
MORE
3/
The #COVID19 crisis exposed US vulnerabilities for all sorts of medical supplies because most were made overseas, even if marketed by American companies. Our PPE disaster, and swabs for #coronavirus testing show what happens when American companies...MORE
The #COVID19 crisis exposed US vulnerabilities for all sorts of medical supplies because most were made overseas, even if marketed by American companies. Our PPE disaster, and swabs for #coronavirus testing show what happens when American companies...MORE
4/
...offshore manufacturing to lower their costs. Americans have seen how hard it is to suddenly relocate manufacture of, for example, N95 masks from China to a newly created factory in the USA. There aren't any idle factories in the US ready to make those APIs or generics.
MORE
...offshore manufacturing to lower their costs. Americans have seen how hard it is to suddenly relocate manufacture of, for example, N95 masks from China to a newly created factory in the USA. There aren't any idle factories in the US ready to make those APIs or generics.
MORE
5/
And it's hard to see how this jives with #Trump vows to lower drug costs. Offshore manufacturing of APIs & generics lowered costs. Bringing it home will raise costs.
Whatever your meds, brace for shortages & rising prices.
And it's hard to see how this jives with #Trump vows to lower drug costs. Offshore manufacturing of APIs & generics lowered costs. Bringing it home will raise costs.
Whatever your meds, brace for shortages & rising prices.
