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How the Senate Paved the Way for Coronavirus Profiteering, and How Congress Could Undo It
Key Excerpts from Article on Website of The Intercept


The Intercept, March 2, 2020
Posted: March 9th, 2020
https://theintercept.com/2020/03/02/coronavirus-vaccine-pric...

Before a vaccine to combat the coronavirus pandemic is within view, the Trump administration has already walked back its initial refusal to promise that any remedy would be affordable to the general public. We cant control that price because we need the private sector to invest, Alex Azar, Health and Human Services secretary and a former drug industry executive, told Congress. After extraordinary blowback, the administration insisted that in the end, any treatment would indeed be affordable. The federal government, though, under the Clinton administration, traded away one of the key tools it could use to make good on the promise of affordability. Gilead Sciences, a drugmaker known for price gouging, has been working with Chinese health authorities to see if the experimental drug remdesivir can treat coronavirus symptoms. But remdesivir, which was previously tested to treat Ebola virus, was developed through research conducted at the University of Alabama ... with funding from the federal government. Thats how much of the pharmaceutical industrys research and development is funded. The public puts in the money, and private companies keep whatever profits they can. It wasnt always that way. Before 1995, drug companies were required to sell drugs funded with public money at a reasonable price. Under the Clinton administration, that changed. In April 1995, the Clinton administration capitulated to pharmaceutical industry pressure and rescinded the longstanding reasonable pricing rule.

Note: Read an excellent post by an infectious disease doctor saying he's much more concerned about the fear and panic around the Coronavirus than about the virus itself. For more along these lines, see concise summaries of deeply revealing news articles on health from reliable major media sources.


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