Drugmaker offers $1 alternative to medicine that skyrocketed 5,000%

[BruSan]

Originally Posted by Northeastah

Canada's politicians don't take bribes from big pharma lobbyists like US politicians do.

They're not allowed to.

[BruSan]

Originally Posted by Northeastah

Tourette? I don't know what else to think? I don't speak rants.

Nor common sense it would seem. I was agreeing with you.

[J746NEW]

Originally Posted by shooting4life

The free market at work!

Not even close.
Bad Publicity at work.
If the public had not gotten wind of this, it would still be $750
There are plenty more examples where this came from where drugs are priced sky high and well beyond the patent.


https://en.wikipedia.org/wiki/Martin_Shkreli

As of October 8th, the price has not been reduced


On top of all that, Shkreli hired a disaster PR relations firm to fix his image

Good Luck with that

[J746NEW]

Originally Posted by pghquest

how many people actually paid $750 per pill? I doubt anyone.. especially those with cancer who for the most part, probably have insurance, who have negotiated rate.

$750 is an advertised price, not the paid price..

Through the same insurance companies that lobby heavily to politicians.
You don't seem to have a problem with criminals like Shkreli jacking up the prices and having the tax payers foot the bill via mandatory insurance that insurance execs wrote and passed off to their puppet politicians

If people want to know why insurance is so high in this country, look no further folks

[J746NEW]

Originally Posted by Robert_J

Without enough profit this or any other health care related drug wouldn't exist.

The generic versions would exist via the "Free Market"
If someone can make it cheaper in other countries, then you are overcharging.

With the TPP, Pharma wants to do away with generics and have everyone prop them up.
That is far from a Free Market, but rigged markets and protectionism.

I would be curious to know the price for many out of patent drugs in this country and other countries.

[J746NEW]

Originally Posted by Northeastah

is that right? why then are meds a fraction of the cost in any other country in the world?? INCLUDING European countries who also have 4 major pham companies developing and researching.

pharmaceutical companies in the US are a bunch of sharks with lobbyists paying off the gov't to keep drugs artificially high and keep cannabis on the schedule 1 drug list

revenue of the worldwide pharm market = $980 billion
revenue share in JUST North America = 44.5%

Global Pharmaceutical Industry - Statistics & Facts | Statista

h

Pharma and Insurance alone sit at the top of the lobby totem pole, buying politicians combined come to over 5 Billion Dollars.

That 5 billion dollars is other peoples money, the consumer

ttps://www.opensecrets.org/lobby/top.php?showYear=a&indexType=i

Top Lobbying Industries

Pharmaceuticals/Health Products $3,146,090,212
Insurance $2,190,651,832
Electric Utilities $2,013,127,133
Electronics Mfg & Equip $1,823,347,451
Business Associations $1,811,811,643
Oil & Gas $1,715,405,541
Misc Manufacturing & Distributing $1,416,425,661
Education $1,399,862,870
Hospitals/Nursing Homes $1,310,021,801
Telecom Services $1,271,840,866
Securities & Investment $1,264,774,284
Civil Servants/Public Officials $1,216,181,432
Real Estate $1,215,135,758
Health Professionals $1,189,983,794
Air Transport $1,125,384,003
Misc Issues $929,225,311
Automotive $891,793,138
Defense Aerospace $887,354,553
Health Services/HMOs $863,410,051
TV/Movies/Music $851,379,595

[J746NEW]

Also most drugs are developed not by Big Pharma but by Universities and public institutions like the Centers for Disease Control.

Big Pharma does get involved in the clinical trials and also pass off gifts to useful doctors to use their medicine. Then there is the manufacturing of the drugs.


All the hard work is done by other people that get paid a pittance.

My BIL makes around 300K selling drugs to doctors.
There is where your money is going and he is at the bottom of the totem pole.


Pharma and Insurance like stealing a lot of other peoples money

[le roi]

Originally Posted by shooting4life

The free market at work!

yeah, because pharmaceuticals are unregulated. No patent laws, no mention of them anywhere in U.S. law.

Yup.