2016 left the world with many questions. The UK voted to leave the EU. The United States elected Donald Trump to the presidency. While immigration and peace in the Middle East tend to dominate the conversation, you shouldn’t ignore Trump’s comments about health care. That goes for people outside the United States as well.
The Affordable Care Act (ACA), also known as Obamacare, has not lived up to expectations. Trump campaigned hard against the ACA, and today he held his first press conference since being elected. In this conference he vowed to “repeal and replace” the ACA with something better. And it may have a huge impact on the price of prescription brand-name drugs, like Provigil, around the world.
Provigil Prices are unique in the US
Countries like the UK have a single-payer healthcare system. The single payer is in fact the government. Since the state provides the care and medication, it buys the medicine its citizens need from pharmaceutical companies. State health providers, like the NHS, negotiate to get the lowest price possible for their medicine. This way they can offer it cheap to people like you and me.
In the UK all prescriptions are sold at a flat rate, meaning that the government probably takes a loss on some and profits off of others. Provigil prices in the UK are the same as every other medicine, but Provigil prices are unique in the US. Because the US lacks a single payer to negotiate on behalf of everyone, pharmaceutical companies can charge much higher prices.
The result is that Provigil prices in the US are over $1,000 for a month’s supply. Insurance companies will usually cover a great deal of this, but if you lack insurance you’re out of luck.
How Trump could change Provigil Prices
Trump stated this morning that he would like the government to negotiate with pharmaceutical companies, just like most other countries. This is unprecedented in the US. Pharmaceutical stocks immediately fell 3-5%. Expect Provigil prices to be cheaper in the United States in the years to come if he follows through.
But this affects everyone else on the planet too.
Why do you think the NHS gets a better deal than the US? Part of the reason other countries are able to pay so much less for their medicine is that the US is paying heaps more! Imagine going out to eat with a few friends, and one of them pays for 80% of the check. Your bill just got lighter.
That 80% number might even be low. Some estimates think the US is responsible for 90% of the industry’s profits.
Expect Provigil prices to rise
If Trump starts hurting the profitability of companies in the US, they’ll look to get more out of other countries’ healthcare systems. The NHS, for instance, might be pressured to pay more for medicine. That, in turn, will lead to you paying more for your prescriptions.
Might be a good time to start stocking up if you’re living outside the US.