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Carrier, Boeing and now US Drug Companies

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  • Carrier, Boeing and now US Drug Companies

    Got to love the hand of free enterprise and letting the market place decide....

    https://www.washingtonpost.com/news/...=.4b767f6c7a83

    “I’m going to bring down drug prices,” Trump told Time in an interview in his dining room after the election. “I don’t like what has happened with drug prices.”

    No additional detail about what Trump would do to lower drug prices was available, and his transition team did not immediately respond to requests for more information.

    But Adam Fein, president of Pembroke Consulting, a firm focused on pharmaceutical economics, said that what Trump may be doing is sending a signal to the industry.

    “Historically, a lot of manufacturers have increased the prices of their products at the beginning of the year,” Fein said. “I think that president-elect Trump is trying to send a message to sort of encourage manufacturers to not take their usual price increases. . . . He may be trying to use his bully pulpit to signal, 'you should change the system' -- without necessarily saying how he’s going to change the system, or what should be done.”

    Pharmaceutical and biotech stocks were down in mid-day trading.
    “The time has come,” the Walrus said,
    “To talk of many things:
    Of shoes—and ships—and sealing-wax—
    Of cabbages—and kings—
    And why the sea is boiling hot—
    And whether pigs have wings.”
    ― Lewis Carroll

  • #2
    So....you don't think that the government should have a hand in preventing blatant price gouging which abuses the whole safety regulatory system of the FDA to maximize profit by preventing true free market competition?
    Tacitos, Satrap of Kyrene

    Comment


    • #3
      The wails of the snowflakes continue.
      Any man can hold his place when the bands play and women throw flowers; it is when the enemy presses close and metal shears through the ranks that one can acertain which are soldiers, and which are not.

      Comment


      • #4
        Originally posted by Arnold J Rimmer View Post
        The wails of the snowflakes continue.
        "Thou must not criticize the Alt-right Czar"

        "Well said comrade".

        The GOP campaign against criticism of the President Elect continues.
        “The time has come,” the Walrus said,
        “To talk of many things:
        Of shoes—and ships—and sealing-wax—
        Of cabbages—and kings—
        And why the sea is boiling hot—
        And whether pigs have wings.”
        ― Lewis Carroll

        Comment


        • #5
          Originally posted by TacCovert4 View Post
          So....you don't think that the government should have a hand in preventing blatant price gouging which abuses the whole safety regulatory system of the FDA to maximize profit by preventing true free market competition?
          If the Feds want to do something about drug prices why have the GOP refused to allow Medicare to negotiate rates for senior prescriptions for the last 10 years? Simple and would have saved many, many billions a year. Yet that was said to be using the pressure of the feds to set prices.. so no we did not do that.


          I'm betting on a 100% turn around on this point... oh wait, we see it in this thread. If the Dem's proposed it, NO, if PE Trump says we do something "YES".

          Going to be a fun four or more years.
          “The time has come,” the Walrus said,
          “To talk of many things:
          Of shoes—and ships—and sealing-wax—
          Of cabbages—and kings—
          And why the sea is boiling hot—
          And whether pigs have wings.”
          ― Lewis Carroll

          Comment


          • #6
            sadist!
            "Ask not what your country can do for you"

            Left wing, Right Wing same bird that they are killing.

            you’re entitled to your own opinion but not your own facts.

            Comment


            • #7
              Originally posted by Combat Engineer View Post
              Got to love the hand of free enterprise and letting the market place decide....

              https://www.washingtonpost.com/news/...=.4b767f6c7a83

              “I’m going to bring down drug prices,” Trump told Time in an interview in his dining room after the election. “I don’t like what has happened with drug prices.”

              Trump didn't run or win as a conventional Republican...
              Say what you will about Donald Trump. He’s right about drug companies

              By CHARLES D. ROSEN

              JULY 22, 2016

              [...]

              As a physician, I believe that Trump is absolutely right about allowing cheaper pharmaceutical drugs manufactured abroad to be sold in the United States. He is right that the pharmaceutical companies essentially sell their products to the federal government via Medicare and Medicaid without competitive bidding. In other areas of the budget, such as defense, federal laws require competitive bidding. It is outrageous this doesn’t occur with drugs and devices, especially since the health care budget is right behind defense in terms of expense.

              Trump is right when he says that drug companies control the landscape. He appears to be willing to call it as it is and not worry about repercussions from the powerful drug interests, and has moved in the right direction in saying he would let Medicare negotiate with pharmaceutical companies if he becomes president. Hillary Clinton, on the other hand, accepted more cash from pharmaceutical companies in the first six months of her campaign than any other candidate in either party. This lessens the potency of her claims to take similar action and suggests yet again disingenuous declarations. If she claims to be such an enemy of Big Pharma, then why are they contributing to her campaign?

              Trump looks at the world through the prism of commerce. The situation we are in with pharmaceuticals and medical devices makes no sense to him. As a physician, I think it’s near criminal that special interests come before my patients. The drug lobbies have succeeded in making the importation of prescription drugs illegal under various self-serving agendas, disguised as “for the public good” and “protecting the drug companies” so they can continue to innovate.

              Both of those charades are laughable. Big Pharma is big business; its objective is to make money for its stockholders. There’s nothing wrong with that, but don’t be fooled by the avalanche of ads positioning these corporations as do-gooders. It’s well-known that drug companies’ budgets for marketing are higher than for R&D. That false tune of the cost of innovation is plain stupid and a lie.

              Unlike Hillary Clinton, whose campaign coffer is loaded with contributions from drug companies, Trump has barely dipped into that pot of besmirched gold. Yes, Trump is defying Republican dogma, but he’s honestly and forthrightly calling Big Pharma on its Big Baloney.

              [...]

              https://www.statnews.com/2016/07/22/...pharma-doctor/

              "Big Pharma" spends a lot of money on R&D. They are heavily exposed to product liability claims. They generally generate very high profit margins, without which, they couldn't do much R&D. They spend as much, or more, money on advertising than they do on R&D because they only have a limited period of exclusive sales rights to their won products.

              I don't see how Trump can legislatively lower drug prices without stifling innovation... But, then again, I couldn't see how he could win the GOP nomination.

              On this issue, he sounds more like a Democrat than a Republican. The big difference is that, unlike HRC, Big Pharma doesn't own Trump. The Democrats always bash Big Pharma to appease their voters and then don't actually do anything about drug prices to appease their campaign contributors.

              Without knowing how he intends to bring down drug prices, it's impossible to criticize or praise the methods he will use to achieve his goal.
              Watts Up With That? | The world's most viewed site on global warming and climate change.

              Comment


              • #8
                Principally, my issue isn't with companies charging big money for bleeding-edge medicine that cost them big money to develop. That's the market at work. Your one in ten thousand disease that we just researched a new med for.....that's going to cost and everyone knows it and can accept it.

                What I have issue with is the way that Big Pharma has rigged the system (IE the FDA among other things) to make them money, period. EpiPen is a specific example. The company did practically nothing but cosmetic changes to the packaging, and bumped the price up to 600 bucks on something that cost 20 to make. And on top of that, the market is stifled by the regulatory apparatus against making that particular company pay for its hubris.....it's nigh impossible to cut into market share with cheaper identical alternatives as the whole EpiPen fiasco showed. And in that case it was involving two items that are widely available....auto injectors (hell, soldiers got issued one of the damn things for atropine) and epinephrine (as common as saline on ambulances and hospitals).....yet the combination is somehow worth hundreds.

                Pharma has been, for some time, making minor changes to their products that have little to no change in the effects, packaging them as something totally new, and then reusing exclusivity to rake in the cash all over again when they didn't actually innovate. That's the issue that needs to be addressed.

                1) Let Medicare and Medicaid force competitive bidding.

                And, just as important!

                2) Reform the FDA to make the market more competitive. The FDA's only job is to make sure the drug is reasonably Safe, and reasonably does what the packaging says it does. It's not there to be the patent office....we already have one of those.
                Tacitos, Satrap of Kyrene

                Comment


                • #9
                  Originally posted by Combat Engineer View Post
                  Got to love the hand of free enterprise and letting the market place decide....

                  https://www.washingtonpost.com/news/...=.4b767f6c7a83
                  Monopolies and crony capitalism are what rose drug prices. He IS opening the gates of free enterprise.

                  Next!
                  A new life awaits you in the off world colonies; the chance to begin again in a golden land of opportunity and adventure!

                  Comment


                  • #10
                    Originally posted by Arnold J Rimmer View Post
                    The wails of the snowflakes continue.
                    Indeed, and I predict a record number of severely knotted panties in the process.
                    Quis Custodiet Ipsos Custodes? Who is watching the watchers?

                    Comment


                    • #11
                      Originally posted by Pirateship1982 View Post
                      Monopolies and crony capitalism are what rose drug prices. He IS opening the gates of free enterprise.

                      Next!
                      Nice word salad. Now show us the facts.
                      “The time has come,” the Walrus said,
                      “To talk of many things:
                      Of shoes—and ships—and sealing-wax—
                      Of cabbages—and kings—
                      And why the sea is boiling hot—
                      And whether pigs have wings.”
                      ― Lewis Carroll

                      Comment


                      • #12
                        Originally posted by Combat Engineer View Post
                        "Thou must not criticize the Alt-right Czar"

                        "Well said comrade".

                        The GOP campaign against criticism of the President Elect continues.
                        We're not stifling your criticism. We're just mocking it. You are free to say whatever you want and we are free to respond to it. That's how free speech works.

                        You leftists are funny in that regard. You set up safe spaces where you actually try to control speech then complain about how we "oppose criticism" just because we disagree with you. Take your snowflake registration tag and continue to rant about the president at will. Just be aware that your free speech to condemn the president and my free speech to make fun of the fact that you never shut up about it are both free speech exercises. You're not being repressed.
                        A new life awaits you in the off world colonies; the chance to begin again in a golden land of opportunity and adventure!

                        Comment


                        • #13
                          Originally posted by TacCovert4 View Post
                          So....you don't think that the government should have a hand in preventing blatant price gouging which abuses the whole safety regulatory system of the FDA to maximize profit by preventing true free market competition?
                          it not the price gouging he replying to it attack on him personally. my dad called this one over a month ago I thought he was nuts obviously not

                          Comment


                          • #14
                            People always blame the manufactures for charging too much, but don’t see that the retailers are in joint ventures with wholesalers (Walgreens/ABC, CVS/Cardinal). Some of these are also prescription benefits managers (Caremark/CVS). Also, CVS's business standards state that they do not take price increases from manufactures; however when the market price go up, they raise their prices at retail to match the market even though they are not paying any more for the product.
                            Last edited by Reimnitz; 07 Dec 16, 22:37.
                            "Never argue with an idiot. They'll just drag you down to their level, then beat you with experience" George Carlin

                            Comment


                            • #15
                              Originally posted by Reimnitz View Post
                              People always blame the manufactures for charging too much, but don’t see that the retailers are in joint ventures with wholesalers (Walgreens/ABC, CVS/Cardinal). Some of these are also prescription benefits managers (Caremark/CVS). Also, CVS's business standards state that they do not take price increases from manufactures; however when the market price go up, they raise their prices at retail to match the market even though they are not paying any more for the product.

                              This is correct. Most use the amount after the wholesalers and retailers add in their margin.

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