- Joined
- Dec 13, 2015
- Messages
- 9,594
- Reaction score
- 2,072
- Location
- France
- Gender
- Male
- Political Leaning
- Centrist
PRICE OF "MIRACLE DRUGS" IS LESS THAN MIRACULOUS
And since when were profits and salaries "regulated" in the pharmaceutical industry ... ?
Let me give you an idea of the same industry in two different markets, one the EU and the other US. From here: How The US Subsidizes Cheap Drugs For Europe. Excerpt:
Thank you, thank you, thank you, Uncle Sam!
ANECDOTAL, ABOUT "DARAPRIM"
The guy who boosted the Daraprim price from $13.50 to $750 did so on an anti-SIDA pill the patent of which ended in the 1970s. See the history of the drug's availability here. The rights to the name of the drug were sold, but the property-rights of the patent are defunct.
Anyone can produce the drug and sell it under another name. Just ask any pharmaceutical company in India, where its market price is anywhere between 4 and 10 cents a pill ...
__________________________
I get that you wealth obsessed liberals focus only on what other people make, but there is no industry more heavily regulated in the US (with the possible exception of the banking industry) than the health care industry.
And since when were profits and salaries "regulated" in the pharmaceutical industry ... ?
Let me give you an idea of the same industry in two different markets, one the EU and the other US. From here: How The US Subsidizes Cheap Drugs For Europe. Excerpt:
The price of a medical miracle varies by country. Imatinib -- also known as Gleevec -- was hailed as a miracle cure to treat chronic myeloid leukemia, a rare type of cancer, upon the drug's approval in 2001. In the U.S., a year of treatment cost $92,000 in 2013. Everywhere else in the world, including in developed countries, it cost far less. Germany’s price tag was $54,000. In the U.K., it was $33,500 for annual care.
Medicines in the U.S. frequently cost significantly more than the same versions in other advanced countries. The ongoing scrutiny over drug pricing systems, in the spotlight this week following the decision of Turing Pharmaceuticals to raise the price of its drug Daraprim from $13.50 per pill to $750, has reignited debate over price controls in the U.S. But what often goes overlooked in these discussions is the fact that pricey medicines in the U.S. actually subsidize research and development for the rest of the world, and for all the proposals to lower drug prices in the U.S., a solution to this particular imbalance is nowhere in sight.
Thank you, thank you, thank you, Uncle Sam!
ANECDOTAL, ABOUT "DARAPRIM"
The guy who boosted the Daraprim price from $13.50 to $750 did so on an anti-SIDA pill the patent of which ended in the 1970s. See the history of the drug's availability here. The rights to the name of the drug were sold, but the property-rights of the patent are defunct.
Anyone can produce the drug and sell it under another name. Just ask any pharmaceutical company in India, where its market price is anywhere between 4 and 10 cents a pill ...
__________________________