US Is Dependent On China For Almost 80% Of Its Medicine

Mar 2019
2,574
584
Texas
#1
US Is Dependent On China For Almost 80% Of Its Medicine | Zero Hedge

https://www.zerohedge.com/news/2019.../us-dependent-china-almost-80-its-medicine

2 days ago - US Is Dependent On China For Almost 80% Of Its Medicine ... So far Chinese companies are making generic for everything from high blood ...

This is pretty astounding information. It seems that the majority of American lives are dependent on our relationship with china. This will likely lead to an increase in drug prices due to tariffs.
 
Likes: tristanrobin
Sep 2015
14,302
5,086
Brown Township, Ohio
#3
US Is Dependent On China For Almost 80% Of Its Medicine | Zero Hedge
https://www.zerohedge.com/news/2019.../us-dependent-china-almost-80-its-medicine

2 days ago - US Is Dependent On China For Almost 80% Of Its Medicine ... So far Chinese companies are making generic for everything from high blood ...

This is pretty astounding information. It seems that the majority of American lives are dependent on our relationship with china. This will likely lead to an increase in drug prices due to tariffs.
The whole world is dependent on China for Rare Earths and Xi threatened to shut that down. No rare earths and no cell phones which would be a good thing
but doomed to fail because Canada is recycling rare earth elements from old cell phones. Dad Burn Canada and bring back Ma Bell aka Western Electric that invented the telephone stepper switch which is unaffected by the EMP from a nuclear burst.
 
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Likes: DeadEyeDick

imaginethat

Forum Staff
Oct 2010
67,993
27,847
Colorado
#5
All the generic drugs I've purchased from Canadian pharmacies have been made in India.

Plus, China's generic drug manufacturers are already hurting.

China's generic drug makers struggle to survive
bulk-buy policy onslaught
Even after a plunge last month that wiped $46 billion off Chinese health-care stocks, domestic drug makers may be far from their floor as a Beijing-led policy shift gathers pace.​
China’s plan to drive down generic drug prices through a centralized bulk procurement program is set to redraw the industry by forcing its thousands of small generic drug makers to streamline and consolidate after decades of enjoying outsized profit margins.​
“There won’t be a second act for traditional generic drug makers in China,” said Dai Ming, Shanghai-based fund manager at Hengsheng Asset Management Co. “In the past, there was hope that these companies would benefit from more government investment in health care due to the aging population, but now these health-care stocks will be further hurt by policy and undergo a greater correction.”​
“There won’t be a second act for traditional generic drug makers in China,” said Dai Ming, Shanghai-based fund manager at Hengsheng Asset Management Co. “In the past, there was hope that these companies would benefit from more government investment in health care due to the aging population, but now these health-care stocks will be further hurt by policy and undergo a greater correction.”​
...China has embarked on a pilot program in which major cities bulk-buy certain drugs together, forcing companies to bid for contracts and driving prices by an average of 52 percent, one by as much as 90 percent. Last week, Chinese Vice Premier Sun Chunlan said China would be expanding the program to cover more cities and drugs, as medicine prices must fall for health care to be affordable for the people.​

More: China's generic drug makers struggle to survive bulk-buy policy onslaught | The Japan Times
 
Mar 2019
2,574
584
Texas
#7
All the generic drugs I've purchased from Canadian pharmacies have been made in India.

Plus, China's generic drug manufacturers are already hurting.

China's generic drug makers struggle to survive
bulk-buy policy onslaught
Even after a plunge last month that wiped $46 billion off Chinese health-care stocks, domestic drug makers may be far from their floor as a Beijing-led policy shift gathers pace.​
China’s plan to drive down generic drug prices through a centralized bulk procurement program is set to redraw the industry by forcing its thousands of small generic drug makers to streamline and consolidate after decades of enjoying outsized profit margins.​
“There won’t be a second act for traditional generic drug makers in China,” said Dai Ming, Shanghai-based fund manager at Hengsheng Asset Management Co. “In the past, there was hope that these companies would benefit from more government investment in health care due to the aging population, but now these health-care stocks will be further hurt by policy and undergo a greater correction.”​
“There won’t be a second act for traditional generic drug makers in China,” said Dai Ming, Shanghai-based fund manager at Hengsheng Asset Management Co. “In the past, there was hope that these companies would benefit from more government investment in health care due to the aging population, but now these health-care stocks will be further hurt by policy and undergo a greater correction.”​
...China has embarked on a pilot program in which major cities bulk-buy certain drugs together, forcing companies to bid for contracts and driving prices by an average of 52 percent, one by as much as 90 percent. Last week, Chinese Vice Premier Sun Chunlan said China would be expanding the program to cover more cities and drugs, as medicine prices must fall for health care to be affordable for the people.​

More: China's generic drug makers struggle to survive bulk-buy policy onslaught | The Japan Times
That would likely result in lower prices.

High drug prices: Who's really to blame? | Healthcare Finance News

https://www.healthcarefinancenews.com/news/high-drug-prices-whos-really-blame

Feb 8, 2019 - But casting blame for high drug prices on insurance providers, pharmacy ... PBMs should be paid like a credit card company, based on each ...


Cutting out the middle peeps that push drugs on doctors offices and hospitals.
 
Sep 2015
14,302
5,086
Brown Township, Ohio
#8
Why isn't this big news?!?!?! It's so much more important than the latest fat orange turd Tweet.
Afghanistan has more rare earth elements than China and Africa is third place. America has no natural rare earth elements and put the blame on Colorado. Ohio is covered in glacial till 1,000 feet deep so you can't blame Ohio.
 
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Mar 2019
2,574
584
Texas
#9
Afghanistan has more rare earth elements than China and Africa is third place. America has no natural rare earth elements and put the blame on Colorado.
We do have the elements but we do not have any mining going on. There is one site in California that was caught up in a bunch of mess and i am not sure if there is currently any production.