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Silly question: Said shipments are illegal. Wish to comment?
Big pharma owns congress.
And people wonder why health insurance goes up. One of the un-talked about failures of the ACA is not addressing the cost end. Both parties are owned by big pharma.
I find it very interesting that there are people here defending the monopolistic and collusion of pharma companies.
Yep.
Obamacare was a scam by the pharma and insurance industry.
The goal was to have everyone pitch in and prop them up, not take any paycuts like everyone else has thanks to globalism.
Simplistic answers to complex questions. If you "get the government out of it all together" like as in everything, you'd end up with one gigantic company that both manufactures and sells the drugs that the entire country is beholden too..because that's the direction the retailers are heading, which is the side no one is mentioning in this.
Exactly.
There is no competition in this “market.”
More often than not, perfectly good, less expensive older medications go off-market when newer, more expensive ones are introduced.
There’s absolutely no reason other than clear collusion between the companies to ensure that there is only one product in each space.
Exactly.
There is no competition in this “market.”
More often than not, perfectly good, less expensive older medications go off-market when newer, more expensive ones are introduced.
There’s absolutely no reason other than clear collusion between the companies to ensure that there is only one product in each space.
There is not much difference between communism and corporatism.
The corporations buy out their competition through many mergers and this gives them deeper pockets to then buy out the politicians and then you are ruled by corporations that have their and not your best interests at heart. The corporations that now own the politicians write bills to kill even more of their competition so they get even bigger.
Boot out all the lobbyists, end the revolving door between DC and industry and maybe the healing can begin.
Simplistic answers to complex questions. If you "get the government out of it all together" like as in everything, you'd end up with one gigantic company that both manufactures and sells the drugs that the entire country is beholden too..because that's the direction the retailers are heading, which is the side no one is mentioning in this.
Well you are entitled to your assertion, void of factual substantiation and all.
Simple simon says all govt has to do is give up its monopoly on_____ and let let competing services emerge. Those who want govt certified food and drugs can buy into the govt system and the consumers are free to choose.
I know freedom is scary to you religious types, so take a bit to digest
Well you are entitled to your assertion, void of factual substantiation and all.
Simple simon says all govt has to do is give up its monopoly on_____ and let let competing services emerge. Those who want govt certified food and drugs can buy into the govt system and the consumers are free to choose.
I know freedom is scary to you religious types, so take a bit to digest
I actually understand the industry very well, and you are a hard core unwavering ideologue with a myopic approach to any and all issues. Exactly what we don't need in dealing with issues like this.
Exactly.
There is no competition in this “market.”
More often than not, perfectly good, less expensive older medications go off-market when newer, more expensive ones are introduced.
There’s absolutely no reason other than clear collusion between the companies to ensure that there is only one product in each space.
But this is the part that you are missing.....the reason companies are colluding is because the retailers are forging giant monolithic organizations, with no apparent government anti-trust regulation in site.
That aspect has been completely left out of the discussion on this price fixing topic.
Well you are entitled to your assertion, void of factual substantiation and all.
Simple simon says all govt has to do is give up its monopoly on_____ and let let competing services emerge. Those who want govt certified food and drugs can buy into the govt system and the consumers are free to choose.
I know freedom is scary to you religious types, so take a bit to digest
The corporations with deep pockets that purchase politicians do not want the competition though.
They do not want to shrink govt either.
Competitors and consumers.
We have a system where drug co's and insurance co's are cabals and operate outside of and are protected from market forces i.e. competition
pharmaceutical companies should compete in the same arena as electronics providers, appliance manufacturers, auto makers, etc.
Consumers can not pressure a company over something they have to have. They can't say "well, I'll just not buy it while it's this high". They can not do that.
Then drug companies just buy out the competition. They can do that when they do not have any price pressure on things people do not get to choose to not buy.
This is kind of the reason we need government to step in and prevent monopolies and collusion, but they seem to be oblivious right now as the same vial of insulin can be purchased for $30 in Canada. It does look however that some rule changes will come into play in 2020 that allow more competition as right now 3 pharmaceutical firms Eli Lilly, Novo Nordisk, Sanofi Aventis, control 90% of the supply. However it doesn't change that in the now, these 3 companies are engaging in price fixing. Snippets from the article:
The cost of a vial of the short-acting insulin lispro (Humalog) increased 585% (from $35 to $234) between 2001 and 2015. By January of 2017, it reached $270, according to the drug-price website GoodRx.com.5 During the same time, the price of a vial of human insulin rose 555%, from $20 to $131, according to endocrinologist Irl B. Hirsch, MD, a professor of medicine at the University of Washington. And by January 2017, it hit $147 according to GoodRx.com.6
Between 1987 and 2014, the wholesale price of a 20-ml vial of Humulin U500—a concentrated form of long-acting insulin that more and more people with diabetes are using to control blood sugar—rose from $170 to $1,200, according to Truven Health Analytics.3 By January of 2017, the list price was $1,400.7.
The ADA’s action doesn’t stand alone. In November (2016), Vermont senator and former contender for the Democratic presidential nomination Bernie Sanders fired off a letter calling on the US Justice Department and the Federal Trade Commission asking for an investigation of pharmaceutical makers Eli Lilly, Novo Nordisk and Sanofi for possibly colluding on insulin price increases.2
“Not only have these pharmaceutical companies raised insulin prices significantly—sometimes by double digits overnight—in many instances the prices have apparently increased in tandem,” noted the letter, co-signed by Rep. Elijah Cummings (D-MD). “We have…heard from our constituents that the life-saving insulin they need is increasingly unaffordable,” And in early January 2017, the New York law firm Bernstein Litowitz Berger & Grossmann sued Novo Nordisk on behalf of the Lehigh County (PA) Employees' Retirement System alleging the company “reported materially false and misleading earnings and forecasts” that were “inflated” by price fixing.
the high prices are BECAUSE of the government....mostly the FDA
Because insulin is considered a "biologic" drug, the FDA approval process is far more stringent and can take much longer than for other types of drugs. In addition, the FDA process is very costly for drug manufacturers. In the case of most generic alternatives, the generic can reduce costs by nearly 80 percent. In the case of insulin (because even a generic is expensive to produce), it's estimated that a generic form will only reduce costs by 20 percent.
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