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Bill: Lex Vinicia de Medicaminis

Details

Submitted by[?]: Factio Republicana Socialistica

Status[?]: passed

Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.

Voting deadline: October 4443

Description[?]:

Vinician Law on Pharmaceuticals

Senators,

The current policy on pharmaceuticals, while guaranteeing affordable prices for all drugs, has a significant drawback: it disincentivizes innovation and provides no guarantee that newer and more effective drugs will enter the market. That is because, given that drug prices in Selucia are kept artificially low, this leads to low profits and return on investment. Innovation is expensive and few pharmaceutical companies can afford research and development of newer and better drugs, even if that would mean higher pharmaceutical prices. Moreover, cost control over pharmaceuticals leads to undesirable outcomes, by discouraging cost-effective drug treatment and leading to higher costs elsewhere in the health industry, such as by increasing hospital admissions.

For this reason we call for a reduction in pharmaceutical prices and to price regulation and instead call for increased investment in R&D and the introduction of limited patent protection for new drugs. Given that the cost of introducing a new drug on the market is very high and the process is very risky, while the cost of producing existing pharmaceuticals is very low, we propose that the government limit its pharmaceutical subsidies and abolish price controls and instead subsidize innovation. New pharmaceuticals will be guaranteed patent protection for a period of ten years, after which the patent will expire and the drug will enter the public domain. In order for any new drug to be approved it must demonstrate that it is safe, more beneficial than drugs already on the market, and that it is cost effective.

With this policy we will be able to rejuvenate our pharmaceutical industry and guarantee that Selucia becomes a world leader in pharmaceutical innovation.

Iennifer Vinicia Opis
Senatrix

Proposals

Debate

These messages have been posted to debate on this bill:

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Voting

Vote Seats
yes
   

Total Seats: 750

no

    Total Seats: 0

    abstain
     

    Total Seats: 0


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