Pharma co. defends 5,000% price increase to Aids medication

[01RedDX]

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[A790]

Some people are just bad people. He is one of them.

[codetrap]

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[phreezee]

I wonder if that is covered under Mulcair's $2.6B pharmacare plan.

[BananaFob]

Total dbag just judging from the picture:


» Click image for larger version

[Tik-Tok]

Originally posted by codetrap
Holy shit! I hope he get's fucked by the long dick of the law for this. That's just insane.

There is nothing illegal about it apparently. Several other pharmaceutical companies have done the exact same, with no repercussions.

[Mitsu3000gt]

How is any of this illegal? Obviously he's a D-bag but what does the law have to do with this? If he bought the rights can't he make the price whatever he wants?

[SmAcKpOo]

Here's the issue. The script probably hasn't been genericized which means this pharmaceutical company has a monopoly on the drug/treatment.

I take Advair for my asthma and I can't wait for the script to become generic so I can stop paying 250$ an inhaler (60 doses, I take 4 a day).

The whole system is corrupt as shit especially when you look at the costs to manufacture it.

[01RedDX]

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[Mitsu3000gt]

Originally posted by SmAcKpOo
Here's the issue. The script probably hasn't been genericized which means this pharmaceutical company has a monopoly on the drug/treatment.

I take Advair for my asthma and I can't wait for the script to become generic so I can stop paying 250$ an inhaler (60 doses, I take 4 a day).

The whole system is corrupt as shit especially when you look at the costs to manufacture it.

I thought after X number of years a drug recipe became fair game? And this one is like 60+ years old. What am I missing, because it sounds like this one isn't fair game?

[sabad66]

There was probably no incentive for other companies to make generic version (treats a rare disease, 'old' cost of 7.50 was already cheap). Hopefully now they will get into it.

[codetrap]

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[jacky4566]

Turing bough the rights to the branded drug (Daraprim). Because the drug no longer has patent protection, anyone who could manufacture the drug could go through the FDA approval process and sell a generic version of it.

There is however a patent on how Daraprim is synthesized, but any half dead chemist could come up with a new method.

Also fuck the US patent system. Looking at you Mickey Mouse Protection Act.

[Pacman]

Originally posted by SmAcKpOo


The whole system is corrupt as shit especially when you look at the costs to manufacture it.

You are forgetting the cost to research and develop it. That's where the huge cost is.

If the drug companies don't take the risk, who is going to pick up the slack? The government, insurance companies, Elon Musk? They don't want anything to do with it. They know it's a very risky game.

[BerserkerCatSplat]

Originally posted by Pacman


You are forgetting the cost to research and develop it. That's where the huge cost is.

If the R&D costs were so high, why was the original developer of the drug selling it so cheaply?

I agree that there are many cases where the R&D and limited market cause high pharmaceutical costs, but this clearly isn't one of them.

[Pacman]

Originally posted by BerserkerCatSplat


If the R&D costs were so high, why was the original developer of the drug selling it so cheaply?

I agree that there are many cases where the R&D and limited market cause high pharmaceutical costs, but this clearly isn't one of them.

I was quoting Smackapoo's comment with regards to Advair and the "cost to manufacture" argument.

I agree, this particular case with the original drug price being raised is outrageous.

However, these types of threads (not just on this forum) tend to degenerate into "all drug companies are evil for making profit" type arguments.

[mikestypes]

Originally posted by Pacman


You are forgetting the cost to research and develop it. That's where the huge cost is.

If the drug companies don't take the risk, who is going to pick up the slack? The government, insurance companies, Elon Musk? They don't want anything to do with it. They know it's a very risky game.

Further to this, the time to get it tested, trialed and certified is enormous! The way patent laws work, you get protected for 25 years (usually) but you have to file the patent before trials can start and trials can take 10+ years. This reduces the available time to recoupe the original investment, especially since you need to outlay capital at the start and returns don't start flowing for 10+ years. Any NPV done on this is terrible. Costs to manufacture are not even a drop in the bucket in most cases.

Public hate for the Pharma industry is mostly a result of an uneducated public that doesn't understand the facts...kinda like the hate for the O&G industry!

[Tik-Tok]

Originally posted by mikestypes

Public hate for the Pharma industry is mostly a result of an uneducated public that doesn't understand the facts...

This guy isn't helping his own industry though. None of what you said apply, as this drug has been around for 60 years. It is a blatant cash grab.

[mikestypes]

Originally posted by Tik-Tok


This guy isn't helping his own industry though. None of what you said apply, as this drug has been around for 60 years. It is a blatant cash grab.

I don't disagree that this case is ridiculous, but this guy is a hedge fund manager no

[Toma]

And frontline Turburculosis doctors are hit with a 2000% increase in one of their special meds.

Capitalism.

Its for the greater good