Price controls on meds

Access to necessary medicines shouldn’t be expensive or exclusionary for those with rare medical conditions in Colorado. But that risk and other unforeseen consequences are inherent in the Prescription Drug Affordability Board (PDAB) being currently considered.

Government intrusion in markets, despite good intentions, often harms consumers. Bureaucracies are reactive and thus move slowly. Mission creep delays progress and further complicates knotty issues.

Rather than price controls, public policy should instead focus on reforming profit-driven practices by Pharmacy Benefit Managers. These decisions impact real lives, like my friend’s brother with schizophrenia. Earlier treatment was basically a chemical lobotomy, but today’s treatment is calibrated and tailored, so his quality of life is the best it’s been in 50 years. To think what his life might be like were this state-of-the-art treatment deemed too expensive by a PDAB and Pharmacy Benefit Managers looking at spreadsheets is tragic.

Market forces bend the arc of economics toward lower prices from improving efficiencies and new market followers (i.e. new competition once market potential is better understood). High risk, high return strategies for new treatments are best left to financial, medical and biological experts. Medicines evolve- today’s market laggard has often evolved or been expanded to become tomorrow’s cash cow (e.g. AZT (Zidovudine), Raloxifene, Gabapentin).

The PDAB could introduce what are in effect price controls on those taking the financial and regulatory risk to advance medicine. The financial risks can run into the billions, and regulatory oversight can take 15 years (e.g. FDA). These business stresses are more profound for those adopting a strategy of drug development for particularly rare and hard-to-treat diseases for the health needs of those like my friend’s brother. I urge policymakers to consider these perspectives.

Jim Felton

Denver

Need other candidates

Lauren Boebert, U.S. Representative from District 3, skipped out on her Congressional responsibilities on Thursday to attend the hush money trial in New York City. Her presence there was not required or necessary.and was a distraction for the Court. She couldn’t manage to attend her son’s trial in her own home district, but could miss work for a politically staged TV appearance.

Boebert once again embarrassed herself by participating in something unbecoming for a member of Congress. District 5, where she is now trying to run, deserves better. Surely there are other candidates out there with greater ethics and professionalism.

Joan Sayre

Ft. Collins

Success of ETHDenver

I am writing to express my profound appreciation for the remarkable support shown by the Denver community during the recent ETHDenver 2024 event. This gathering, held from February 23rd to March 3rd, served as a testament to the growing significance of the Web3 and cryptocurrency industry not only globally but also within the state of Colorado.

With over 20,000 attendees hailing from more than 120 countries, ETHDenver 2024 once again emerged as a beacon of innovation and collaboration in the blockchain space. The event hosted an impressive array of 450+ side events including hacker houses, facilitated discussions, workshops, and networking opportunities that enriched the knowledge and experiences of participants. A staggering 15 months worth of session videos were watched by attendees, showcasing the thirst for knowledge and eagerness to engage with cutting-edge developments in Web3 technology.

ETHDenver garnered 125,000 mentions online, highlighting its global significance and influence within the crypto community. The event also witnessed over 500 BUIDLathon submissions and nearly $1million in bounty prizes, underscoring the commitment of participants to actively contribute to the growth and development of the blockchain ecosystem. It’s noteworthy that despite being a nascent event, the crypto industry has already proven advantageous for Colorado, contributing tens of millions of dollars in revenue to the state. ETHDenver serves as a shining example of the positive impact this industry can have on our economy.

As we reflect on the success of ETHDenver 2024, it becomes increasingly evident that supportive legislative policies can further bolster the growth of the crypto industry in Colorado, promising even brighter prospects for our state’s economy and technological advancement for decades to come.

Taylor Kendal

Denver

The system is out of control

A recent N.Y. Times article reported on another round of student loan forgiveness in defiance of our Supreme Court.

Why doesn’t this so-called journalist report the news factually. “Biden cancels millions in debt” should be more accurately reported as President Biden transfers millions of legitimate debt of those who agreed to the terms to those who are completely outside the realm of responsibility (taxpayers, many of whom have paid off their student loans). Responsibility is the key word! Does the president wish to teach young Americans responsibility is subjective?

Perhaps the better approach is to put the brakes on unchecked tuition funding more salaries and programs rather than education. Too many so-called student loans often pay for spring break vacations and bar tabs during four-year degree programs stretched out over 5, 6 years or more years divided between partying and some education.

The system is out of control and needs to be reeled in. Teaching our young there is no accountability is counterproductive at best! Our states need to engage, and dive deep into the true cost of their universities. Cap that cost instead of whatever school loans will fund. Loans must follow commensurately. Maybe administration and/or programs need to be cut but it would be for the greater good! Target tuition towards education, period!

Paul Gremse

Denver