jbog - public health care
I think we have to wait and see how this plays out. I find it hard to believe that government will set pricing in such a way that completely destroys an industry. One reason for public health care is to reduce health costs for private companies so that they have more money to spend to innovate and hire employees. Pricing drugs in such a way that biotech companies no longer have incentives to develop drugs is self defeating.
FRom Obama's conference a couple of days ago my impression is that the government will mainly try to curb health costs by reducing administrative costs since there is no need to make a profit. Reducing adminstrative costs will likely reduce prices of drugs by a small percentage but you have to also keep in mind that reduced health care costs will likely mean more patients and drug companies could potentially make money from the additional patients.
Obviously public health care is not going to be the perfect solution and I don't believe its advertised to be the perfect solution. The majority will favor public health care and similar to whats happening in canada, there will be long waits to see physicians and for treatments. Some people will choose public healthcare since they don't have a choice, others will use a mixture depending on the circumstance and others will only use private healthcare.
In some sense public health care will make some companies more profitable. More patients will have access to healthcare and therefore drugs and medical equipment. Therefore more drugs and medical equipment will be sold.
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