5,000% Price Increase For Daraprim

[fskimospy]

Medicare negotiates nothing; Medicare tells you what you are going to be paid, and that's eventually, if you are lucky, and usually after multiple filings. Extending this to drugs will simply raise drug prices for everyone not on Medicare/Medicaid.

Your argument is if Medicare negotiates for lower drug prices that everyone else will have to pay more?

If you want the government to subsidize drug companies just say so, because that's exactly what that is.

 

[Gonad the Barbarian]

"We get so much money from the government we'll just charge consumers less," said no CEO ever.

I hope this asshole enjoys his lifelong infamy.

 

[dank69]

So much butthurt. LOL, you little bitch, keep crying.

Keep up the good fight against the liberals that only exist in your head. As for who is a bitch, I certainly haven't ever cried to the mods about a poster for calling me names. Can you say the same?

 

[senseamp]

http://www.bloombergview.com/articles/2015-09-24/let-medicare-tackle-high-drug-costs

The best strategy to push down such prices -- the one endorsed by Clinton and one of her rivals for the Democratic presidential nomination, Bernie Sanders -- is to give Medicare, which pays for 29 percent of all U.S. prescription drug purchases, the ability to negotiate prices with drugmakers.

That Medicare doesn't already do this is Congress's fault. In 2003, when lawmakers created the Medicare prescription drug benefit, they explicitly prohibited bargaining. Presumably, this was to maintain the support of drug companies, but it gives away great leverage that Medicare could use to keep drug prices in check.

Time to fix this GOP created mess.

 

[blankslate]

Good we're one step closer to the true Libertarian Utopia.

This will also motivate people who depend on the drug to improve themselves so that this price increase isn't a problem for them thereby improving the economy...

If you only knew the power of the unfettered free market...


....

 

[Phokus]

Again I'm not a lawyer. I am assuming he broke some kind of market manipulation or Sherman act statue, I could be wrong but I'll bet if someone qualified dug around they'd find something.

There's a reddit thread that showed he tweeted some shit a year ago about shorting the pharma market and there's speculation that he intentionally drove up prices in an election year to get politicians to start talking about legislation to prevent such shenanigans, thus driving down stock prices. If that's true, he could be in deep shit from the SEC.

 

[Fanatical Meat]

The greedy troll still has not lowered the cost

http://money.cnn.com/2015/10/09/investing/drug-ceo-daraprim-price/index.html

 

[Hugo Drax]

http://www.bloombergview.com/articles/2015-09-24/let-medicare-tackle-high-drug-costs


Time to fix this GOP created mess.

I see Bernie Sanders words having weight. Clinton is only throwing out promises as the wind blows so she can get elected. In the end she wont produce.

 

[Linux23]

I see Bernie Sanders words having weight. Clinton is only throwing out promises as the wind blows so she can get elected. In the end she wont produce.

Just like Oblama. Smdh.

 

[trenchfoot]

Until those asshole Congress persons feel like their jobs are threatened if they don't help the nation bring the cost of health care down, they'll do jack-shit about it, especially when doing that will piss off big pharma and the health care industry in general which in turn cuts off all of that access to Super Pacs and sugar daddy campaign dollars.

And those corrupted jerk-offs haven't been doing anything because they've been getting away with it election after election, so why shouldn't they sit on their fat pampered asses over this?

 

[Hugo Drax]

The whole news story is already past, Notice how Clinton who was a hard core TPP enthusiast is now anti TPP since there were some TPP stories.

Like a good parrot, she is parroting back what the people want to hear for this week.

 

[Strk]

I see Bernie Sanders words having weight. Clinton is only throwing out promises as the wind blows so she can get elected. In the end she wont produce.

Because Bernie Sanders actually believes it. Clinton would just do another backroom deal like Obama did with big pharma about Medicare part D.

 

[senseamp]

It won't happen unless a Democrat Congress takes over anyways.

 

[Zorkorist]

This is all happening under a Democratic Presidents rule.

-John

 

[Zorkorist]

A Democratic President that is Socializing Medicine and Healthcare.

His answer, appears to be, throw more money at it.

-John

 

[Zorkorist]

So why wouldn't a drug lord, raise their price?

-John

 

[Zorkorist]

Shift taxes to Obama so he can score a good number.

-John

 

[Fanatical Meat]

Zork are you talking to yourself?

 

[Zorkorist]

Nope, senseamp, among others.

-John

 

[Pipeline 1010]

Good we're one step closer to the true Libertarian Utopia.

This will also motivate people who depend on the drug to improve themselves so that this price increase isn't a problem for them thereby improving the economy...

If you only knew the power of the unfettered free market...


....

Horseshit. You can go to another country and buy this stuff for far less money. But because of monopolistic laws, you cannot bring it back to this country nor can you order it from another country to be delivered here for a far lower price. These laws are in place to protect the drug companies' monopoly and to reduce competition and free market. They are the antithesis of Libertarianism.

 

[Strk]

A Democratic President that is Socializing Medicine and Healthcare.

His answer, appears to be, throw more money at it.

-John

Right.... Sure, if taken as two separate entities -- the US government and US public -- both still manage to be in the top 10 in healthcare spending. Let's not change anything. Our system is awesome. Sure, we don't have the longest lifespan, lowest infant mortality, best drt ratio, nurset ratio or any other reasonable argument that would even come close to justifying that. But screw it. Merrica!

 

[Sonikku]

http://www.bloombergview.com/articles/2015-09-24/let-medicare-tackle-high-drug-costs


Time to fix this GOP created mess.

Kinda makes you wonder why Obama gets a hundred times the flack for Obamacare than Bush did for Part D.

 

[Brainonska511]

I feel like there are two issues in this thread and they're being convoluted.

The first, we have a generic drug, which is likely sold on fairly low margins because it has been off patent for so long. Along comes a spider, who sees a way to make a quick buck, and jacks up the price because the low margins had driven out many of the other manufacturers.

The second, we end up with very novel drugs, like Gilead's hepatitis C drug or Vertex's cystic fibrosis drug, which both cost quite a bit of money. Should these new drugs, which took a lot of money to develop (and likely include some costs from failed pipelines) be sold at generic margins? Just from a quick google search, the NIH had a budget of ~$30 billion, and outside of the DoD research programs, is the largest provider of basic research funding in the United States. 4 large drug companies, Roche, Novartis, J&J, and Merck spent ~$35 billion in research and development in 2013. Then there are tons of other, smaller companies spread throughout the US.

I think there is certainly an argument to be had for the latter case - where do we draw the line in cost for what become new, essential drugs for people? The former case, I think the guy is a huge jackass and should get slapped down over something like raising a non-patented drug 5000% because he just happened to have no competition.

 

[Hugo Drax]

The guy who raised the price 5000% was a noob. The experienced guy knows not to do this unless they want the wrath of politicians and the media.

Experienced guy will slowly raise the price over a period of years as to not attract attention.

 

[senseamp]

There is another issue I became aware of having to do with FDA. What they are doing is for old drugs that never went through modern approval and got grandfathered in, they are telling companies, if you do the studies on them to get them officially approved, we will give you an exclusivity. It's the most ridiculous thing ever, effectively they are giving monopolies to off patent drug manufacturers. So you are being hosed for your own good folks.