"Dr. Oz replied, The president does the calculation by saying, Okay, if a drug was $100 and you reduce it to $50, it's 100% cheaper because you're taking $50 off and left with only $50, so the amount you took off the price is equal to the amount that's left. They're equal so it's 100%.' He said 1,500%! Welker pointed out. In one of those, he said 1,500%. Dr. Oz then bizarrely explained: Well, if you take a drug that is $200 or $240 like we did last week and reduce it to $10, those are the numbers you're talking about."
"This has not been a secret that we pay three times more for the exact same pill, made in the same factory, even if it's made in America, then that same product sales for overseas, and when the president learned about this a while back, he got upset and he started making a big deal about it both in the first term and this time around he said, I'm not gonna be stopped."
President Donald Trump repeatedly claimed he could cut pharmaceutical prices by extremely large percentages, including figures from 1,200% to 1,500%. CMS administrator Dr. Mehmet Oz attempted to explain those claims but mischaracterized percentage reductions, asserting that reducing a $100 drug to $50 constituted a “100% cheaper” cut because the amount taken off equals the amount remaining. Dr. Oz also offered an example of cutting a $200 or $240 drug to $10 to rationalize very large percentage reductions. He emphasized that the United States pays substantially more for identical pills than other countries and framed price cutting as overdue.
Read at www.mediaite.com
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