Home
>
Political
>
Eminent Domain Suggested as Cost Saving Measure in DC

Eminent Domain Suggested as Cost Saving Measure in DC

Washington DC council member David Catania actually suggested that the council should consider claiming eminent domain of certain widely prescribed pharmaceutical formulas in order to help reign in rising drug costs for the city. Catania suggests that the patents should be acquired by the government through the mayor's declaration of a public health emergency and then generic manufacturers would be contacted to produce the drugs for cheaper than they are commercially available.

There are so many things wrong with this proposal that it is hard to decide where to begin. First off, convincing anyone that there is a public health emergency due to the cost of medicines is absolutely ridiculous. The cost of health care does need to be addressed in order for our economy to thrive, but when one breaks down the actual costs of health care one finds that medications account for only 10 percent of the overall health care spending. What would be next, claiming eminent domain over hospitals so the government can set the prices that they are allowed to charge?

Also, what Catania fails to realize is that even under eminent domain claims the government is still required to pay the fair market value to the person/entity that they are seizing the property from, so not only would they need to pay for the intellectual rights to the drugs, the government would then need to pay a generic company to produce and get approval from the FDA to sell the drug which would basically wipe out any savings Catania would hope to realize.

The eminent domain seizure of the patents of drugs would all but guarantee that pharmaceutical companies in this country would have no incentive to develop new drugs, so one hopes that all the drugs required to treat any future aliments have already been discovered. Getting these drugs cheaply now, comes at the very expensive cost of losing any future developments from pharmaceutical companies.

Daniel Spankie is the creator/editor of http://www.chemtracker.net, a Pharmaceutical news forum for professionals.

In The News:

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents

Apple recently notified a small number of iPhone customers in 92 countries that their phones may be under attack by mercenary spyware.

An artificial intelligence-powered home security system can fire paintballs and tear gas at trespassers. The camera identifies human faces and animals.

Technology expert Kim Komando gives her tips and tricks on enhancing your user experience a smartphone and other devices you use everyday.

A new camera called NUCA uses artificial intelligence to create deepfake photos of subjects by stripping away clothing in close to real time.

The Kimberley Kube trail-ready camper has a compact but spacious design and combines luxury, functionality and ruggedness for a weekend getaway.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Emails instructing you to reset your password for an account may be legitimate, or they may be scams. Kurt "CyberGuy" Knutsson explains.

Northrop Grumman's Manta Ray uncrewed underwater vehicle aims to revolutionize undersea missions — it glides through the ocean without human assistance.

Learn how to work Google's calendar application to streamline and organize your daily tasks from technology expert Kim Komando.

If you do not want Facebook to have automatic access to your private photos, follow our tips to protect yourself. Kurt “CyberGuy" Knutsson shows you how.

Kurt “CyberGuy" Knutsson goes into detail about Apple’s recent iOS update that allows iPhone users to instantly translate spoken language simply by using the Action Button.

Safeguarding your digital life with a reliable physical backup isn't just a precaution, it's a necessity. Kurt “CyberGuy" Knutsson provides the essential backup checklist.

Kurt “CyberGuy" Knutsson reveals how a Redditor exposed false recycling claims at their apartment, highlighting a report that only 21% of U.S. recyclables are processed.

Kurt "CyberGuy" Knutsson offers a travel toolkit featuring five technology tools to help you with booking flights and hotels for your summer vacation.

The bubble behind the clock on your iPhone can appear in different colors. Kurt "CyberGuy" Knutsson explains what each of those colors mean.

Scammers are using the power of artificial intelligence to mimic voices of people and are using the fake voices to commit crimes, like kidnappings.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Tech guru Kurt "CyberGuy" Knutsson explains the science behind the Invisibility Shield, a 6-foot shield that makes people become invisible.

The International Olympic Committee on Friday announced plans to use AI in various Olympic aspects, including athlete identification, training and judging.

Tech guru Kurt "CyberGuy" Knutsson explains an easy trick to avoid squinting while working or surfing the web by zooming in on your personal computer.

Streaming giant Roku has recently been targeted by a pair of cyberattacks, and the company confirmed over a half million Roku accounts were compromised.

The Land Aircraft Carrier combines an all-terrain, six-wheeled vehicle with a two-seat aircraft, which features electric vertical takeoff and landing.

The European Union has sent TikTok a "request for information" on the video sharing platform's newest app, TikTok Lite, under the Digital Services Act, with the aim to clean up social media.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Eminent Domain Suggested as Cost Saving Measure in DC

Political