Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
If health care is your issue. Keeping an eye on Scott Gottlieb FDA commissioner, Trump appointee is worthwhile.
How will he preform ? He has been in the revolving door with pharma. No question he has a lot of knowledge and the education. Its being reported he is going to take on the task of lowering drug cost.
Will he work for the people or the industry ?
How can the government reduce costs from profit-based pharma? I do not see how that happens and I think all a pharmaceutical company has to do is start greasing some GOP palms and they will fall in line.
How? Current regulations do not allow FDA to get involved with the financial aspects of medications. Drugs are approved if they are proven to be safe and effective. They don't have to be better than what is currently available. They don't have to be a better choice economically to be approved.
Once a drug becomes generic, the price decreases significantly. Abilify went generic recently. Before it went generic, a 30 day supply was about $900. Today, the generic formulation is about $40 per month.
How? Current regulations do not allow FDA to get involved with the financial aspects of medications. Drugs are approved if they are proven to be safe and effective. They don't have to be better than what is currently available. They don't have to be a better choice economically to be approved.
Once a drug becomes generic, the price decreases significantly. Abilify went generic recently. Before it went generic, a 30 day supply was about $900. Today, the generic formulation is about $40 per month.
Kinda OT but near me, Abilify generic is at least 3xs that much at CVS (but CVS is usually kinda expensive.)
Something happened around 2011 that made all the generics around here go up close to 10xs. Wish I knew what it was....
In Massachusetts, after healthcare went mandatory, all of Romney's staffers hooked themselves up w sweet gigs in managed care companies. I expect no less from federal employees of either party.
How? Current regulations do not allow FDA to get involved with the financial aspects of medications. Drugs are approved if they are proven to be safe and effective. They don't have to be better than what is currently available. They don't have to be a better choice economically to be approved.
Once a drug becomes generic, the price decreases significantly. Abilify went generic recently. Before it went generic, a 30 day supply was about $900. Today, the generic formulation is about $40 per month.
The issue I saw reported on had to do with streamlining the process to bring generic drugs to market faster without compromising safety. The goal as stated by Gottlieb was to have more drugs on the market faster and that provides the competition to drive down prices. I see it as tinkering at the fringe, although, it might have some effect.
The more drugs on the market the more profit potential for pharma. IDK Maybe ? Low cost quantity vs. high cost original may equal more profit. IDK
Would it cause pharma to raise the price of the original drug to offset the shorter time till a generic is available ?
It might have the opposite effect of what is intended.
CVS is charging top dollar for that generic Abilify. I am a pharmacist and the true acquisition price is in the area of $40 per 30 tablets.
The first generic of any drug gets a 6 month exclusivity on it. However, the brand manufacturer can make its own generic formulation. It takes on average 24 months for a generic to be approved. After the 6 month exclusivity, the prices normally collapse. The price will end up at a level which will cover their costs and a bit more.
When a drug goes generic, there are normally already several approved generics.
A standard drug patent is for 20 years. Normally, about half of it is eaten up when the drug is in development. However, certain things can be done to increase the exclusivity period. On average, a drug is brand only for 10-15 years.
CVS is charging top dollar for that generic Abilify. I am a pharmacist and the true acquisition price is in the area of $40 per 30 tablets.
The first generic of any drug gets a 6 month exclusivity on it. However, the brand manufacturer can make its own generic formulation. It takes on average 24 months for a generic to be approved. After the 6 month exclusivity, the prices normally collapse. The price will end up at a level which will cover their costs and a bit more.
When a drug goes generic, there are normally already several approved generics.
A standard drug patent is for 20 years. Normally, about half of it is eaten up when the drug is in development. However, certain things can be done to increase the exclusivity period. On average, a drug is brand only for 10-15 years.
Until a hedge fund manager buys exclusive rights to all generic versions.
How can the government reduce costs from profit-based pharma? I do not see how that happens and I think all a pharmaceutical company has to do is start greasing some GOP palms and they will fall in line.
Give Medicare the ability to negotiate drug prices for its beneficiaries.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
