This policy would ensure that medical decisions are made based on the best interest of patients rather than financial gain, thereby potentially improving trust in healthcare systems and reducing overall healthcare costs.
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Conflict of Interest Disclosure and Prohibition
This policy would mandate that all doctors, scientists, and employees of regulatory bodies like the NIH, FDA, and CDC must declare any financial interests or relationships with pharmaceutical companies annually. Furthermore, it would prohibit these professionals from receiving any form of compensation, including but not limited to, consulting fees, stocks, royalties, or gifts from pharmaceutical companies. Violations would result in strict penalties, including fines, loss of medical or professional license, or even criminal charges in severe cases. -
Independent Drug Evaluation Committee
Establish an independent committee composed of members who have no financial ties to pharmaceutical companies. This committee would be responsible for evaluating and approving drugs based solely on scientific merit, efficacy, safety, and cost-effectiveness. The members would be appointed through a transparent selection process, with terms that prevent immediate industry employment post-service to avoid revolving door issues. Their funding would come from government sources or a small, fixed levy on all drug sales to ensure independence. -
Transparency in Clinical Trials Funding
All funding for clinical trials is required to be transparently reported and accessible to the public. This policy would enforce that all clinical trials, especially those influencing FDA approval, must not only disclose their funding sources but also the financial structures of those trials. This includes who paid for what aspect of the trial, any bonuses for outcomes, and post-trial benefits to researchers or institutions. This information would be made available in a public registry, enabling scrutiny and reducing the potential for biased research influenced by financial gain. -
Cap on Drug Pricing and Patent Reform
Implement a policy where the pricing of prescription drugs is directly linked to the cost of development, production, and a reasonable profit margin, excluding marketing costs. Additionally, patent laws should be reformed to limit secondary patents that extend market exclusivity without significant therapeutic advancement. This would reduce the financial incentive for doctors and institutions to favor newer, more expensive drugs over generics or older, equally effective medications. The policy could also include a clause for compulsory licensing if a drug’s price remains disproportionately high compared to development costs or international pricing norms.