Even More Obamacare Follies

#4,180
#4,180
Vol8188 said:
Why do I waste my time? All you do is make dumb statements and then deflect when called out on it.
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Called out on what? That every other commercial on tv is some ambulance chaser trying to make a buck off of prescription drugs and medical products?

You really think this is about holding the drug companies responsible? If so you're more naive than I imagined.
 
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#4,181
#4,181
Carl Pickens said:
Called out on what? That every other commercial on tv is some ambulance chaser trying to make a buck off of prescription drugs and medical products?

You really think this is about holding the drug companies responsible? If so you're more naive than I imagined.
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Not what I asked.
 
#4,183
#4,183
Carl Pickens said:
Well then what point were you trying to make ? My post was in reference to all the frivolous lawsuits that drive up drug costs. .... How does this relate to companies being held responsible ?
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That's the reason lawsuits exist. To hold companies responsible.
 
#4,186
#4,186
Vol8188 said:
You don't feel companies should be held responsible?
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Lawyers are the reason everything is so expensive today. Hell, for that matter whiny is health care so expensive? Couldn't have anything to do with tort law could it? Naaaaah. They are just trying to help.
 
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#4,189
#4,189
Velo Vol said:
Obscene pharmaceutical company profits and executive pay are the reason drugs cost so much today.
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A lot of the high costs of drugs and devices are related to the red tape the government/FDA make them jump through. The science behind a lot of this is extremely expensive. That is one factor that is often forgotten.
 
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#4,192
#4,192
Velo Vol said:
Obscene pharmaceutical company profits and executive pay are the reason drugs cost so much today.
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That's part of it.... Throw in research and development, which can take years.... Add in clinical trials...... The FDA approval process and the other red tape...... Plus the frivolous lawsuits and it's fairly easy to see why rx drugs are expensive....it goes well beyond the simplicity of obscene company profits and executive pay.
Out of curiosity, at what level does profit become obscene?
 
#4,193
#4,193
Carl Pickens said:
That's part of it.... Throw in research and development, which can take years.... Add in clinical trials...... The FDA approval process and the other red tape...... Plus the frivolous lawsuits and it's fairly easy to see why rx drugs are expensive....it goes well beyond the simplicity of obscene company profits and executive pay.
Out of curiosity, at what level does profit become obscene?
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If I own their stock I'm going to need that dividend and eps growth too.
 
#4,194
#4,194
If you want to take the high cost out of healthcare, eliminate insurance and let the market drive the cost. Healthcare would be dirt cheap.

The largest increase in the cost of healthcare was with the implementation of workplace insurance plans and Medicare during the 1960's.
 
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#4,195
#4,195
If you really want to eliminate the high cost of pharmaceuticals, increase demand by eliminating prescriptions.
 
#4,197
#4,197
Medscape article from 11/2014

Premium Prices in the United States

But any way that development expenditures are evaluated, the cost of drugs is unevenly shared globally, with the United States far outspending other nations on prescription drugs. In 2012, the United States was projected to spend $883 per person on prescription drugs, which was nearly twice as high as the amount spent in other wealthy nations. For example, Canada spends about $0.70 for each dollar spent in the United States per person, the United Kingdom spends just under $0.40, and Denmark spends only $0.35, according to a report from the Center for Economic and Policy Research.

An analysis in Health Affairs found that from 2000 to 2011, the average price of 29 cancer drugs in Europe was 10% lower than the average wholesale price in the United States (Health Aff. 2013;32:762-770). It was also about 8% lower than the average sales price in the United States, including the Medicare Part D price.

Overall, cancer drug prices are 20% to 40% lower in European countries than in the United States, according to IMS Health, a data and consulting firm.

Imatinib will cost Canadians and New Zealanders less than $1000 a dose. In the Netherlands, Spain, and Switzerland, it runs about $3500. In the United States, the price jumps to more than $6000.

Prices for patented brand-name drugs are also about 18% lower in Japan. Nivolumab (Opdivo, Ono Pharmaceutical), the first immunotherapy to act on the programmed death pathway, was approved in Japan for metastatic melanoma. The annual cost for the drug will be about $143,000. Bristol-Meyers Squibb, which will be distributing the drug in the United States when it is approved, has declined to say how much it will cost when it arrives on the American market, but the price tag could be substantially higher, given the usually lower rates in Japan.

"The US makes most of the discoveries, the taxpayer funds 85% of the basic research, and yet at the end of the day when a drug is FDA-approved — for cancer as well as for other indications — we as Americans are paying at least twice the price as those outside the US," said Dr Kantarjian. "In the setting of most cancer drugs, you can find them at half the price in Canada. For the hepatitis C drug [sofosbuvir], in the United States we pay $80,000 to $160,000 for a 3- to 6-month course, but in Egypt and India, the drug company has an agreement to give the total course of treatment to an individual patient for $900."

Even at that cut rate, they still make a large profit, he emphasized. "That's because the total cost of treatment is only $138. In the US, we are in a very awkward situation because we fund most of the research as taxpayers and we get zero in return," he explained.

"In fact," he said, "it is double jeopardy because we pay more than anyone outside the United States."
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