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Drug make raises prescription price 3,200%

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  • #16
    Originally posted by AdrianE View Post
    People should be concerned about Valeant's shady practices. For the past few months they've been making the business news in Canada for all sorts of questionable practices. IIRC they were accused of accounting irregularities related to non-arm's length subsidiary pharmacies.

    See below for a start
    http://nymag.com/daily/intelligencer...to-pariah.html
    I did not look at the link yet as I'm short on time right now, but it is never a good idea to sell a pharmaceutical company to a hedge fund manager.
    This company has been buying up all the competition, shutting down the production laying those employees off so they can drive up the cost of their own formula.
    The system in the US is out of control for many reasons. But we can not deny a big part of the problem is these companies throw money around Wash. D.C. And offer high paying jobs to FDA inspectors. The same reason our bank regulators do very little regulating.
    Dispite our best intentions, the system is dysfunctional that intelligence failure is guaranteed.
    Russ Travers, CIA analyst, 2001

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    • #17
      Originally posted by MarkV View Post
      Given that each country in the EU has its own health system and therefore its own drug acquisition policies and arrangements can you back this up with some explanation and evidence please? The British Health Service has been suffering from the same greedy policies by some pharma companies who recently put up prices on some essential drugs manyfold.
      I'll start here:

      http://www.ncbi.nlm.nih.gov/pmc/articles/PMC3402967/

      In this paper we study six countries (UK, Germany, France, Denmark, Netherlands and Sweden) in order to gain insight into the effects of various regulatory measures on originator and generic prices. The selection of the countries is based on two primary criteria. We have selected large and widely referenced markets like Germany, France and the UK. In addition we have chosen countries with an interesting policy mix, such as the Netherlands, Sweden, Denmark. Germany (which is the third largest pharmaceutical market in the world) provides an interesting combination of free pricing for in-patent drugs and reference pricing for off-patent drugs. The United Kingdom is also a large market and is known for its unique indirect price regulation via rate-of-return regulation (profit controls) and for explicitly tackling the demand-side through a mix of regulatory measures such as claw-backs and incentives (e.g. prescribing guidelines, monitoring and budgets).

      What the authors conclude is that government policies in each country vary some but all have the effect of limiting the amount pharma companies can charge for any drug, new or out-of-patent.
      For new drugs, the profit controls mean that the company has to go elsewhere to make up the difference or face a loss on R & D costs.

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      • #18
        Originally posted by Mountain Man View Post
        You're completely off topic. We're talking about the pharma industry, which is like Big Oil - taking in record profits for over-priced drugs that often carry lethal side effects.

        If you want to know a drugs true costs, check what it goes for in third world nations, sold by the same companies that gouge everything they can out of the rest of the world for the same product.

        You do understand the significance of a 3,200% price increase in real terms, right?
        Tell that to Paddyboy "Please explain why the financial sector acted in a similar manner despite years of deregulation..... "

        Soon, there will be no new drug developed, that cure for cancer, one to prevent and treat Alzheimer or any safer cheaper drugs to replace current ones with issues of side effects and high cost. The "Leaches" and Progressives will soon make sure of that all future drug research ends up being eliminated as all the US drug companies complete their move to Asia or declare bankruptcy.

        3,200% increase in price? Overseas discounted prices where zero money is made to invest in super expensive research? Counterfeit drugs from China and Pakistan? The day is rapidly coming where many of the current drugs will not be available for any price. Since 2011, there is already a shortage of several drugs hospitals have in stock for emergency treatment. It will get far worse as Omamacare take over all health care in this country. http://www.foxnews.com/health/2011/09/27/hospital-drug-shortages-deadly-costly.html
        Last edited by SRV Ron; 28 Apr 16, 15:57.
        “Breaking News,”

        “Something irrelevant in your life just happened and now we are going to blow it all out of proportion for days to keep you distracted from what's really going on.”

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        • #19
          Look at MRI costs in the US. These vary from around as little as $300 or $400 to as much as several thousand in the same market.

          http://www.healthnewsreview.org/2012...-or-3000-both/

          Why is that? It has to do with the facility and how they take payment.
          Low cost MRI's generally are cash, done by companies that do only a limited number of other things, and operate independently.
          Big hospitals and operations that rely on insurance payments inflate their prices not just because they can soak the insurers (who can spread their costs over lots of subscribers), but also to make up for things like having to treat deadbeats and the uninsured who can't pay even at the cheaper rates.

          So, once again, government regulation and rules are a major cause of driving up prices in a market.

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          • #20
            Originally posted by SRV Ron View Post
            (...)
            Soon, there will be no new drug developed, that cure for cancer, one to prevent and treat Alzheimer or any safer cheaper drugs to replace current ones with issues of side effects and high cost. The "Leaches" and Progressives will soon make sure of that all future drug research ends up being eliminated as all the US drug companies complete their move to Asia or declare bankruptcy.

            3,200% increase in price? Overseas discounted prices where zero money is made to invest in super expensive research?
            Not really,

            http://www.brusselstimes.com/belgium...ncer-treatment

            According to the association, “currently, at least 513 clinical research studies into new cancer drugs are taking place in Belgian centres, which amounts to one third of all clinical studies in our country. Thanks to these studies, over 228,000 Belgian patients have had quick and free access to new cancer treatments over the last 6 years. Furthermore, the reimbursement of 15 cancer drugs was approved last year. The European Medicines Agency is expected to approve several pioneering treatments developed in part in Belgium in 2015,” adds the association.
            High Admiral Snowy, Commander In Chief of the Naval Forces of The Phoenix Confederation.
            Major Atticus Finch - ACW Rainbow Co.

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