Vice presidential nominee Kamala Harris is not exactly the centrist the media are making her out to be—especially when it comes to healthcare. Harris has long-been a supporter of a government-run healthcare system and was the first senator to support the “Medicare for all” bills put forth in 2017 and 2019. Her presidential platform included a controversial “Medicare for all” plan that would have regulated private insurers out of existence. Rather than allowing the free market to dictate prices, Harris wants government to be able to step in and void patents or impose price controls for prescription drugs. Manufacturers unwilling or unable to comply will be subject to heavy fines and penalties.
A Biden-Harris administration will be catastrophic for drugmakers, especially now that multiple companies are on the verge of producing an effective COVID-19 vaccine. There are exorbitant costs associated with developing new medications. Drugmakers need to be confident that government won’t get in the way by arbitrarily dictating prices or seizing investments. Read more here.
(Source: Sally Pipes, August 13, 2020)