5,000% Price Increase For Daraprim

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Bitek

Lifer
Aug 2, 2001
10,676
5,239
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The drug is already FDA approved. It's absurdly easier to test a pill for it's contents than it is to actually get a new drug FDA approved. Hell you can buy illegal drugs off the streets and for a hundred dollars or two send it to dancesafe and they will post all of the active ingredients and the amounts present for the world to see. If I can personally get a pill pressed in some guys fucking basement tested at reasonable cost to MYSELF then I gotta assume we, the supposedly greatest nation the earth has ever seen, could easily figure out a method to test foreign drugs for safety. That's just me though, perhaps you have less faith in our abilities.

That's not how it works at all. It's not about just having a QC test for release. The quality system mandated by the FDA (and other agencies) covers the entire chain of the manufacturing process as well as the support functions.

You have to show you have total control of your raw materials to your distribution network, your infrastructure, your personnel, your change and documentation practice, as well as customer complaints and problem tracking. The scope is enormous, but it's what needed to ensure safety, reliability and efficacy.
 

Bitek

Lifer
Aug 2, 2001
10,676
5,239
136
it is terrible for people who need the medication

but admit it - if you could legally monopolize a market to make insane amounts of money, wouldn't you do it?

If I was a terrible human being who only cared for money? Then yes. Seems like that's who we are dealing with.

Personally I would respond by sending FDA auditors to the facility for a very through audit and have them tear into these assholes. Find a thread and keep pulling until they have a change of heart on their marketing strategy.

Send a clear signal to any other financial geniuses that they can watch their returns evaporate rather quickly when compliance costs begin to explode.
 
Sep 12, 2004
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The only problem with that is said power companies are getting laws passed where you will have to pay extra fee's because you installed solar.

http://thinkprogress.org/climate/2014/04/16/3427392/oklahoma-fee-solar-wind/

The companies will go after anything that hurts their bottom line even if it screws over a normal consumer.
It's $5 a month in Arizona. The price is as of yet undefined in Oklahoma. Are there costs involved in sending energy back to the grid? I wouldn't doubt it. Seems reasonable to me.

All of this is going to change in a few decades anyway when nearly everyone has a personal or neighborhood fusion generator. Utilities will be a thing of the past.
 

Slew Foot

Lifer
Sep 22, 2005
12,379
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You guys know there are other first world countries in the world besides America right? You can import meds from the EU/japan and it would still cost 10% or less than what it costs in the US. The ironic part is most of the drugs were probably made in the US in the first place.
 

theeedude

Lifer
Feb 5, 2006
35,787
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It's a damned if you do, damned if you don't situation. The same people whining about this problem would whine just a loud when some crappy generics from China or India started killing people. And if we allowed non-FDA approved foreign generics you can be sure that would happen.

Here you go with more big pharma propaganda scare tactics. Are Canadian generics killing people too? Or European generics made by some of the same companies selling brand name drugs in the US? Consumer can pick a reputable vendor and reputable manufacturer with no problems.
 

theeedude

Lifer
Feb 5, 2006
35,787
6,197
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Hey dipshit, this guy isn't preventing importation of generics. That's the FDA.

The FDA is part of the government.

The FDA is part of the executive branch.

Why does Obama hate America?

Your record broke again. I get it, you don't like the government. There is a law preventing the importation. Republicans are running the legislative branch now, maybe they should change that law.
 

theeedude

Lifer
Feb 5, 2006
35,787
6,197
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That's not how it works at all. It's not about just having a QC test for release. The quality system mandated by the FDA (and other agencies) covers the entire chain of the manufacturing process as well as the support functions.

You have to show you have total control of your raw materials to your distribution network, your infrastructure, your personnel, your change and documentation practice, as well as customer complaints and problem tracking. The scope is enormous, but it's what needed to ensure safety, reliability and efficacy.

That's all great, but not $50K for a drug that's $50 overseas great.
 
Sep 12, 2004
16,852
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Here you go with more big pharma propaganda scare tactics. Are Canadian generics killing people too? Or European generics made by some of the same companies selling brand name drugs in the US? Consumer can pick a reputable vendor and reputable manufacturer with no problems.
Big pharma? I though this was some hedge fund hustler doing this?

Seems you can't keep your talking points straight.
 

theeedude

Lifer
Feb 5, 2006
35,787
6,197
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Big pharma? I though this was some hedge fund hustler doing this?

Seems you can't keep your talking points straight.

Big pharma is doing same thing. Jacking up prices on old drugs. Hedge fund guy is just a step ahead of them in that instead of jacking them up 20% a year, he just skipped to the ending and jacked them up 5000% right away.
But if he gets away with it, get ready for other drugs to follow suit.
http://www.nytimes.com/2015/09/21/b...ncrease-in-a-drugs-price-raises-protests.html
Turing’s price increase is not an isolated example. While most of the attention on pharmaceutical prices has been on new drugs for diseases like cancer, hepatitis C and high cholesterol, there is also growing concern about huge price increases on older drugs, some of them generic, that have long been mainstays of treatment.

Although some price increases have been caused by shortages, others have resulted from a business strategy of buying old neglected drugs and turning them into high-priced “specialty drugs.”

Cycloserine, a drug used to treat dangerous multidrug-resistant tuberculosis, was just increased in price to $10,800 for 30 pills from $500 after its acquisition by Rodelis Therapeutics. Scott Spencer, general manager of Rodelis, said the company needed to invest to make sure the supply of the drug remained reliable. He said the company provided the drug free to certain needy patients.

In August, two members of Congress investigating generic drug price increases wrote to Valeant Pharmaceuticals after that company acquired two heart drugs, Isuprel and Nitropress, from Marathon Pharmaceuticals and promptly raised their prices by 525 percent and 212 percent respectively. Marathon had acquired the drugs from another company in 2013 and had quintupled their prices, according to the lawmakers, Senator Bernie Sanders, the Vermont independent who is seeking the Democratic nomination for president, and Representative Elijah E. Cummings, Democrat of Maryland.

Doxycycline, an antibiotic, went from $20 a bottle in October 2013 to $1,849 by April 2014, according to the two lawmakers.
 
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Sep 12, 2004
16,852
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Big pharma is doing same thing. Jacking up prices on old drugs. Hedge fund guy is just a step ahead of them in that instead of jacking them up 20% a year, he just skipped to the ending and jacked them up 5000% right away.
But if he gets away with it, get ready for other drugs to follow suit.
Nice try at a save...

Not.
 

Newbian

Lifer
Aug 24, 2008
24,779
882
126
It's $5 a month in Arizona. The price is as of yet undefined in Oklahoma. Are there costs involved in sending energy back to the grid? I wouldn't doubt it. Seems reasonable to me.

All of this is going to change in a few decades anyway when nearly everyone has a personal or neighborhood fusion generator. Utilities will be a thing of the past.

The problem is it was originally $50 and expect other states to have these bills passed and the cost increased shortly but it's not utilities so much as corps like is talked about here.
 

Newbian

Lifer
Aug 24, 2008
24,779
882
126
You guys know there are other first world countries in the world besides America right? You can import meds from the EU/japan and it would still cost 10% or less than what it costs in the US. The ironic part is most of the drugs were probably made in the US in the first place.

Except for the laws preventing such imports even if it's not heavily enforced right now.
 

theeedude

Lifer
Feb 5, 2006
35,787
6,197
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The drug is starting at 2.2 cents per pill in India, according to a reddit post I am reading.
Even the old price of $13 per pill was a rip off by the previous company that raised it from $1 per pill. Now it's just legalized racketeering. A treatment course would actually cost $650K for an adult in the US. Or starting at $20 in India. I would spend a little more than that though, maybe a couple hundred bucks. Or you can buy a Ferrari for a hedge fund douchebag playing God with sick people's lives. It's your call.
 
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John Connor

Lifer
Nov 30, 2012
22,757
619
121
I'm just going to place my opinion here on cancer. It's a fucking money making scam! I see these bull shit commercials and you have to wonder how much money they paid to advertise their cancer institution?

I could go on, but I don't fell like typing a mile.
 

brycejones

Lifer
Oct 18, 2005
29,817
30,585
136
I'm just going to place my opinion here on cancer. It's a fucking money making scam! I see these bull shit commercials and you have to wonder how much money they paid to advertise their cancer institution?

I could go on, but I don't fell like typing a mile.

Please, please do go on.......
 

Hugo Drax

Diamond Member
Nov 20, 2011
5,647
47
91
Word on the street is this is a new hot market for Hedge funds to provide outsized returns, since they have been having a tough time the last 5-7 years.

This is going to be the equivalent of the 1980s LBO Boom. There are other drugs already jumping up 500% or more fold. Expect to see much more of this in the next 10-20 years.
 

brycejones

Lifer
Oct 18, 2005
29,817
30,585
136
Word on the street is this is a new hot market for Hedge funds to provide outsized returns, since they have been having a tough time the last 5-7 years.

This is going to be the equivalent of the 1980s LBO Boom. There are other drugs already jumping up 500% or more fold. Expect to see much more of this in the next 10-20 years.

Wonder if anyone will be bold enough to start Fyita pharmaceuticals as part of this new "gold rush".
 

fskimospy

Elite Member
Mar 10, 2006
87,916
55,234
136
I'm just going to place my opinion here on cancer. It's a fucking money making scam! I see these bull shit commercials and you have to wonder how much money they paid to advertise their cancer institution?

I could go on, but I don't fell like typing a mile.

As a cancer survivor I'm very interested to hear your thoughts about how cancer isn't real or is a scam.
 

cubby1223

Lifer
May 24, 2004
13,518
42
86
As a cancer survivor I'm very interested to hear your thoughts about how cancer isn't real or is a scam.

As a forum reader I'm very interested to hear your thoughts on your ability to accurately interpret other people's posts.

Relax. No one was insulting you.
 

fskimospy

Elite Member
Mar 10, 2006
87,916
55,234
136
As a forum reader I'm very interested to hear your thoughts on your ability to accurately interpret other people's posts.

Relax. No one was insulting you.

As a forum reader I'm very amused by your attempt to slam me for not accurately interpreting other people's posts while failing to accurately interpret mine. That's pretty great, haha.

I didn't think he was insulting me, I am just interested to hear his thoughts on cancer because they will likely be insane and funny.
 

Cozarkian

Golden Member
Feb 2, 2012
1,352
95
91
Proposed solution:

1. Drug patents mugs specify a patent price.
2. If patent holder sells drug at price below patent price of at price more than 20% above patent price, the patent expires.
3. Patent holder may apply for upward adjustment in patent price based on inflation.
4. Other companies may offer generics at below the patent price with a 20% royalty to the patent holder.

The result is driving manufacturers have to estimate a market price for their drug. They can then sell their drug for a 20% premium above this price. If they are too greedy and overstate the competitive (patent) price, generic manufacturers can undercut them. The original company will still receive 20% of the actual sale price.

To illustrate: a company patents a new drug at $100. They can sell it between $100 and $120 without losing the patent. If a generic can manufacture the drug for $70, they could sell it for $95, pay $19 in royalties and make $6 in profit.

Here the patent holder was too greedy. If they had stated the patent price at $85, they could sell it for $102 and the generic would be unable to undercut them.

Obvious the percentages can be adjusted to insure an adequate recovery of R&D and profit by the patent holder.