topic Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight in Community Chat

Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

NoelSeven — Mon, 21 Sep 2015 15:27:22 GMT

Ex-hedge funder buys rights to AIDS drug and raises price from $13.50 to $750 per pill

The local TV news said this morning that it's also used to treat cancer, and another report says it's also used for treating AIDS. Apparently, this is happening more and more often. This is not right.

"Daraprim is used for treating toxoplasmosis — an opportunistic parasitic infection that can cause serious or even life-threatening problems in babies and for people with compromised immune systems like AIDS patients and certain cancer patients — that sold for slightly over $1 a tablet several years ago. Prices have increased as the rights to the drug have been passed from one pharmaceutical company to the next, but nothing like the almost 5,500 percent increase since Shkreli acquired it."

References:

http://www.nytimes.com/2015/09/21/business/a-huge-overnight-increase-in-a-drugs-price-raises-protests.html?_r=0

http://www.rawstory.com/2015/09/ex-hedge-funder-buys-rights-aids-drug-and-raises-price-from-13-50-to-750-per-pill/

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

151949 — Mon, 21 Sep 2015 15:30:01 GMT

This is happening more and more in the USA. Probably could still buy it in canada for less though. These millionaires don't get uber rich by being ethical and moral most of the time.

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

chrystaltree — Mon, 21 Sep 2015 15:33:27 GMT

I don't think it's morally right. But it's legal. And it's new, this is what happens in the pharmaceutical world. The company wants to maximize it's profits on the drug. This is making news only because of the ridiculously high increase.

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

NoelSeven — Mon, 21 Sep 2015 15:35:39 GMT

@151949 wrote:
This is happening more and more in the USA. Probably could still buy it in canada for less though. These millionaires don't get uber rich by being ethical and moral most of the time.

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We sure agree here! It's a young ex hedge-funder, photo here:

http://www.rawstory.com/2015/09/ex-hedge-funder-buys-rights-aids-drug-and-raises-price-from-13-50-to-750-per-pill/

This is happening more and more often with the very young, newly uber rich. Morals seem to be absent much of the time.

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

Mominohio — Mon, 21 Sep 2015 15:37:25 GMT

I'm sure I'll take a hit for this but there are two things going on here (well three if you include just plain greed).

The cost to develop these drugs, treatments and cures is so huge, and the money has to be made somewhere. Not that I condone this kind of thing, just stating that it happens.

The longer I live, the more I wonder if those who say that "there will not be enough money in a cure, therefore we don't get them" aren't so wrong. The money is in the drugs and treatments. If we make it go away, so goes the money to be made from it. Just a thought.

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

NoelSeven — Mon, 21 Sep 2015 15:37:41 GMT

@chrystaltree wrote:
I don't think it's morally right. But it's legal. And it's new, this is what happens in the pharmaceutical world. The company wants to maximize it's profits on the drug. This is making news only because of the ridiculously high increase.

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Hi, I'm not sure what you were referring to when you said it's new. The drug isn't new, but evidently this practice is new

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

Q4u — Mon, 21 Sep 2015 15:38:11 GMT

This is so not right.... and even at the expensive new price, you'll find that the only mass trials are on the public, so that in a few years (as often happens) they find that the drug causes horrible side effects they had no idea would happen......

Meanwhile, they've made their billions before this happens......

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

NoelSeven — Mon, 21 Sep 2015 15:40:44 GMT

@Mominohio wrote:
I'm sure I'll take a hit for this but there are two things going on here (well three if you include just plain greed).

The cost to develop these drugs, treatments and cures is so huge, and the money has to be made somewhere. Not that I condone this kind of thing, just stating that it happens.

The longer I live, the more I wonder if those who say that "there will not be enough money in a cure, therefore we don't get them" aren't so wrong. The money is in the drugs and treatments. If we make it go away, so goes the money to be made from it. Just a thought.

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He didn't develop the drug, it has been in use for 60 years.

I've read where this is the new thing: buy an old trusted drug, NOT a new one, and raise the price dramatically.

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

NoelSeven — Mon, 21 Sep 2015 15:43:14 GMT

@Q4u wrote:
This is so not right.... and even at the expensive new price, you'll find that the only mass trials are on the public, so that in a few years (as often happens) they find that the drug causes horrible side effects they had no idea would happen......

Meanwhile, they've made their billions before this happens......

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Q4U,

It's a 60 year old drug, all side effects would be known, I would hope.

Since it's effective and apparently safe, this guy will make a lot of money off of people who need it to survive.

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

gardensla — Mon, 21 Sep 2015 15:48:03 GMT

One can only hope that there's a special circle of hell reserved for him and those who put profit over all else.

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

Mistic — Mon, 21 Sep 2015 15:56:08 GMT

Hi NoelSeven ~ What am I missing? Generally, from what I have been told, a NEW drug gets 7 years before it can go generic, and then any drug company can make it, and pass the HUGE savings on to the public.

This is not a NEW drug, so how can it be bought exclusively by this company?

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

NoelSeven — Mon, 21 Sep 2015 15:58:50 GMT

@Mistic wrote:
Hi NoelSeven ~ What am I missing? Generally, from what I have been told, a NEW drug gets 7 years before it can go generic, and then any drug company can make it, and pass the HUGE savings on to the public.

This is not a NEW drug, so how can it be bought exclusively by this company?

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We're on the same track! I was under the impression that after a certain time, there isn't a patent on an already established drug, it can be copied and sold by others.

Some generics are not as good, but some are.

Maybe someone here knows.

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

AliJoi5 — Mon, 21 Sep 2015 16:31:56 GMT

Unfortunately, I'm used to the impotent rage I experience when reading a story like this. As George Carlin used to say, the tables are tilted, folks, and the game is rigged. He, of course, was referring to big business... the "real owners" of this country who he felt had bought and paid for it long ago. Sad, but true!

With regard to the generics question, the NY Times article mentioned that Daraprim's distribution is now tightly controlled, making it harder for generic companies to acquire the samples they need for the required testing.

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

NoelSeven — Mon, 21 Sep 2015 16:50:15 GMT

@AliJoi5 wrote:
Unfortunately, I'm used to the impotent rage I experience when reading a story like this. As George Carlin used to say, the tables are tilted, folks, and the game is rigged. He, of course, was referring to big business... the "real owners" of this country who he felt had bought and paid for it long ago. Sad, but true!

With regard to the generics question, the NY Times article mentioned that Daraprim's distribution is now tightly controlled, making it harder for generic companies to acquire the samples they need for the required testing.

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Yes, I don't get that. Was the law changed when we weren't looking? What?

IMO, this nasty little outcome for sick people should be reason enough to change whatever it is that's allowing it.

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

Anita Bourbon — Mon, 21 Sep 2015 17:56:44 GMT

I've known illegal drug dealers with more class and humanity...

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

Nightowlz — Mon, 21 Sep 2015 18:17:50 GMT

@Q4u wrote:
This is so not right.... and even at the expensive new price, you'll find that the only mass trials are on the public, so that in a few years (as often happens) they find that the drug causes horrible side effects they had no idea would happen......

Meanwhile, they've made their billions before this happens......

That's why people that need medication should tell their doctor they want something older that's been on the market that they already know the side effects. People should refuse to take these new drugs they don't know the side effects yet. The older drugs are also have a lower price.

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

hennypenny — Mon, 21 Sep 2015 18:18:36 GMT

Mr henny has a topical medicine that is seven hundred a tube. We have a friend that gets it for him in Mexico for one hundred.

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

Nightowlz — Mon, 21 Sep 2015 18:21:05 GMT

@gardensla wrote:
One can only hope that there's a special circle of hell reserved for him and those who put profit over all else.

I truly believe there is. Karma. What goes around comes around.

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

NoelSeven — Mon, 21 Sep 2015 18:21:46 GMT

I've been thinking about this. It reminds me of laws against merchants taking advantage of people during a crisis, like increasing the price of batteries after an earthquake.

Seems to me it could be a precedent. This guy is taking advantage of patients desperate for the drug.

Re: Lifesaving Drug Goes From $13.50 A Pill To $750 A Pill, Overnight

NoelSeven — Mon, 21 Sep 2015 18:28:05 GMT

@hennypenny wrote:
Mr henny has a topical medicine that is seven hundred a tube. We have a friend that gets it for him in Mexico for one hundred.

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WOW!