Calblog

The private sector steps in on prescription drugs

One question that arises is whether the private sector can or will do anything good if government does not force them to. I believe they can but it gets overlooked. How many of you saw news of this move by Pfizer, announced 3 days ago:

With enrollment beginning in August, Pfizer will provide millions of working families without drug coverage access to Pfizer medicines at an average savings of 37 percent. Pfizer’s medicines treat many common medical conditions, including hypertension, cardiovascular disease, depression and diabetes.

America’s uninsured suffer because they can’t afford to see doctors as well as get preventive care, needed medical tests and prescription medicines. The uninsured also lack the purchasing power of large-volume buyers like health maintenance organizations and large employers. Many of their treatable medical conditions go undetected for years until expensive medical interventions, often in America’s already overloaded emergency rooms, are required.

In response, Pfizer will offer uninsured families earning less than $45,000 a year the ability to buy medicines at prices similar to those paid by large purchasers. Families without drug coverage making more than $45,000 will be eligible for average savings of 15 percent off retail prices if they do not have drug coverage.