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Old 04-15-2019, 09:40 AM
 
Location: Denver, CO
8,348 posts, read 1,876,087 times
Reputation: 1652

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Quote:
Originally Posted by Ferd View Post
in general I pretty much think its crazy to talk about going after companies or CEOs that make big money. the forces of the free market dictate.... that being said, there is no free market where drug companies are concerned.


we have created a system where they play in their own sandbox with no competition at all. that needs to change. The answer is the free market. patents on new drugs, extended patents on existing drugs need major revamping.


we need the free market to be free and where drugs and healthcare are concerned we really need to institute competition and free markets.
^^^^^^^^

This
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Old 04-15-2019, 09:47 AM
 
Location: My beloved Bluegrass
14,614 posts, read 10,521,232 times
Reputation: 19741
Quote:
Originally Posted by Ferd View Post
in general I pretty much think its crazy to talk about going after companies or CEOs that make big money. the forces of the free market dictate.... that being said, there is no free market where drug companies are concerned.

we have created a system where they play in their own sandbox with no competition at all. that needs to change. The answer is the free market. patents on new drugs, extended patents on existing drugs need major revamping.

we need the free market to be free and where drugs and healthcare are concerned we really need to institute competition and free markets.
The pharmaceutical industry needs some serious trust busting action. Even when patents expire the companies enter into wink, wink, nod, nod agreements not to produce certain generics. This is going to take Congress addressing the issue, and if ever a topic needs grass roots inspired reform this is it. The price Americans are being charged for life saving drugs compared to other countries, even our neighbors to the north, is inexcusable.
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Old 04-15-2019, 10:45 AM
 
11,389 posts, read 3,103,892 times
Reputation: 3873
Quote:
Originally Posted by Leo58 View Post
I admit there is a problem, but not sure what you want the government to do about it. Government doesn't tell companies what to pay their CEO, and government doesn't set prices (although they should use the leverage of Medicare to negotiate better deals). Also why pick on Pharma CEOs? Les Moonves of CBS made $69B in 2017 and Douglas Lebda of lending Tree made $60B.

For most conditions today there exists inexpensive generic treatments. But as long as either insurance or the government is paying, where is the incentive to choose generic? If you were dying of cancer, would you choose an older drug that costs $500 over the latest treatment that costs $20,000? How about if it came out of your own pocket?
Million, not Billion
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Old 04-15-2019, 11:31 AM
 
Location: Rutherfordton,NC
14,061 posts, read 8,954,338 times
Reputation: 9531
Quote:
Originally Posted by Leo58 View Post
I admit there is a problem, but not sure what you want the government to do about it. Government doesn't tell companies what to pay their CEO, and government doesn't set prices (although they should use the leverage of Medicare to negotiate better deals). Also why pick on Pharma CEOs? Les Moonves of CBS made $69B in 2017 and Douglas Lebda of lending Tree made $60B.

For most conditions today there exists inexpensive generic treatments. But as long as either insurance or the government is paying, where is the incentive to choose generic? If you were dying of cancer, would you choose an older drug that costs $500 over the latest treatment that costs $20,000? How about if it came out of your own pocket?
If I got cancer the last thing I would do is go to a Dr.




Quote:
Originally Posted by Toyman at Jewel Lake View Post
Don't like it? Why don't you start your own drug company? You can charge whatever you like for the products and pay as much or little as you choose to.
I’m all for whoever needs to be rich to stroke their LITTLE ego. That’s not what I’m getting at.

No one should have to go into debt to stay/get healthy. It’s making sure that the working class/middle class stay sick, etc. And the rich stay just the opposites, how can anyone be okay with this who has a loved one whose so sick and needs said meds to get better?

But then again if your okay with your, wife, child, husband, dying then more power to you.
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Old 04-15-2019, 11:48 AM
 
Location: Suburb of Chicago
20,141 posts, read 9,836,051 times
Reputation: 19855
Quote:
Originally Posted by reed067 View Post
If I got cancer the last thing I would do is go to a Dr.






I’m all for whoever needs to be rich to stroke their LITTLE ego. That’s not what I’m getting at.

No one should have to go into debt to stay/get healthy. It’s making sure that the working class/middle class stay sick, etc. And the rich stay just the opposites, how can anyone be okay with this who has a loved one whose so sick and needs said meds to get better?

But then again if your okay with your, wife, child, husband, dying then more power to you.
That's what Steve Jobs said...until just before he died and then he said he regretted his choice.

But back on topic - Big Pharma is in bed with the FDA and they're all in bed with our politicians. People should not only not be surprised by the money in the industry, they shouldn't trust what their doctors have to say about medications they want to prescribe them.

Be your own advocate and research everything before you just take it. Big Pharma is as corrupt as they come and doctors are merely messengers.

No new research is being done but a lot of rebranding is.

Even if a drug is dangerous they can market it until they find a replacement for it.

Almost all drugs are made in dumpy countries and while the companies making the drugs are supposed to be audited every couple years, that's not being done on schedule.

Read up on some of the criminal behavior of the past and you'll be sickened. Heparin deaths, for example.
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Old 04-15-2019, 12:36 PM
 
16,257 posts, read 9,052,754 times
Reputation: 6529
Quote:
Originally Posted by Oldhag1 View Post
The pharmaceutical industry needs some serious trust busting action. Even when patents expire the companies enter into wink, wink, nod, nod agreements not to produce certain generics. This is going to take Congress addressing the issue, and if ever a topic needs grass roots inspired reform this is it. The price Americans are being charged for life saving drugs compared to other countries, even our neighbors to the north, is inexcusable.
yep.
limit patents to 5 years (or less)
pass tuff laws against collusion to insure genrics are created. force companies to compete.


shoot, pass a law that says an identical drug is not a generic. its just the drug.
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Old 04-15-2019, 12:41 PM
 
Location: Rutherfordton,NC
14,061 posts, read 8,954,338 times
Reputation: 9531
Quote:
Originally Posted by MPowering1 View Post
That's what Steve Jobs said...until just before he died and then he said he regretted his choice.

But back on topic - Big Pharma is in bed with the FDA and they're all in bed with our politicians. People should not only not be surprised by the money in the industry, they shouldn't trust what their doctors have to say about medications they want to prescribe them.

Be your own advocate and research everything before you just take it. Big Pharma is as corrupt as they come and doctors are merely messengers.

No new research is being done but a lot of rebranding is.

Even if a drug is dangerous they can market it until they find a replacement for it.

Almost all drugs are made in dumpy countries and while the companies making the drugs are supposed to be audited every couple years, that's not being done on schedule.

Read up on some of the criminal behavior of the past and you'll be sickened. Heparin deaths, for example.
That him not me. I would be moving to Colorado, etc if I got cancer which we might anyways.
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Old 04-15-2019, 12:55 PM
 
Location: MS
4,275 posts, read 4,056,069 times
Reputation: 1483
Quote:
Originally Posted by reed067 View Post
Pfizer CEO gets 61% pay raise—to $27.9 million—....
Did you read the article? His salary is $1.96M and he got a $2.6M bonus. The rest of his compensation is equity in the company and he can't touch it before it fully vests.


If he keeps the company profitable, then the shareholders make dividends and can sell at a higher price as well as him. It is an incentive so he won't run the company into the ground for short term gains.
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Old 04-15-2019, 01:04 PM
 
Location: Here.
13,822 posts, read 12,551,881 times
Reputation: 16206
Quote:
Originally Posted by fitzy24 View Post
Leave the protected class of white men alone. They work hard for their money and earned it!
Are black athletes and entertainers a protected class as well?
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Old 04-15-2019, 01:33 PM
 
2,378 posts, read 838,643 times
Reputation: 1655
Quote:
Originally Posted by RMESMH View Post
Million, not Billion
Thanks; my mistake. They made more than Read was my point.
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