1. Some basic thoughts on #coronovirus. It is not clear how bad #COVID19 will be globally, but in this moment of uncertainty, the most important thing is to have a government that tells the truth.
2. Economic problems are guaranteed; Apple has already revised its revenue guidance for the quarter, citing its impact on the company's supply chain and sales.
3. Eighty percent of the generic drugs that Americans use originate in China. uscc.gov/sites/default/…
4. The FDA has already halted all plant inspections in China. fiercepharma.com/manufacturing/…
5. Forty percent of US medical device import lines are directly from China. fda.gov/news-events/co…
6. Some automobile plants are temporarily halting production due to shortages in Chinese-manufactured car parts. wsj.com/articles/coron…
7. Our fragile supply chains have caused shortages before—drug shortages, for example, have been ongoing for at least a decade and have already hurt many patients. The FDA currently lists over 100 drugs that are in shortage. accessdata.fda.gov/scripts/drugsh…
8. These shortages are a result of mergers in the pharmaceutical industry combined with offshoring of production. We must act quickly. The FTC, in consultation with the FDA and supply chain experts, must look into the drug supply chain and the sourcing of vital products.
9. As before WW II, Congress must create a government funding agency—a new Reconstruction Finance Corporation—to break supply chain bottlenecks. There are experiments today funded by hospitals to do so, and we should accelerate them with government money. healthcaredive.com/news/after-muc…
10. Hopefully, #COVID19 never spreads widely in America. Regardless of whether it does, we must take action to make sure we have the medicine and critical supplies we need.
