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Honored Contributor
Posts: 10,111
Registered: ‎06-09-2014

Re: Drug prices increasing 10X rate of inflation

@Trinity11  I was answering your question about the popularity of insulin drugs.  Most people do take a generic pill and are not subject to being held hostage by the brand name injectables.  I'm sorry you don't like the answer but I want you to know what's reality.  

 

And as I said before, I completely agree with you.  If a generic doesn't exist yet, at some point during the 10 year on average patent period, pharmaceuticals have to be kept to a reasonable profit margin to recoup their R&D and not an astronomical one. 

 

Fair is fair all the way around and if the free market can't keep it fair, then I am all for our government stepping in.   

Respected Contributor
Posts: 2,024
Registered: ‎07-05-2012

Re: Drug prices increasing 10X rate of inflation


@Laura14wrote:

@Trinity11  I was answering your question about the popularity of insulin drugs.  Most people do take a generic pill and are not subject to being held hostage by the brand name injectables.  I'm sorry you don't like the answer but I want you to know what's reality.  

 

And as I said before, I completely agree with you.  If a generic doesn't exist yet, at some point during the 10 year on average patent period, pharmaceuticals have to be kept to a reasonable profit margin to recoup their R&D and not an astronomical one. 

 

Fair is fair all the way around and if the free market can't keep it fair, then I am all for our government stepping in.   


There is no free market.  Worldwide distribution and price controls in other countries mean non-medicare U.S. customers are disproportionately subsidizing said profit margins.

 

 

Honored Contributor
Posts: 10,111
Registered: ‎06-09-2014

Re: Drug prices increasing 10X rate of inflation

Okay this is as close as I can find as to what this article may be referencing although this article is about brand name and most of these drugs have generics so we are still confused. 

 

I have no idea what actual list this article is looking at but here is a 2015 updated list for top Medicare drugs and your insulin @Trinity11 made the top 10!  

 

Medicare Top Drugs

Respected Contributor
Posts: 2,024
Registered: ‎07-05-2012

Re: Drug prices increasing 10X rate of inflation

@Laura14 I just want to say I appreciate your working so hard to find the list of medications that were measured Woman Happy  I wish everyone were as critical of information and interested in background and context (and I am not saying that to disparage anyone here.)

 

 

 

 

Esteemed Contributor
Posts: 7,879
Registered: ‎11-16-2014

Re: Drug prices increasing 10X rate of inflation


@Laura14wrote:

Okay this is as close as I can find as to what this article may be referencing although this article is about brand name and most of these drugs have generics so we are still confused. 

 

I have no idea what actual list this article is looking at but here is a 2015 updated list for top Medicare drugs and your insulin @Trinity11 made the top 10!  

 

Medicare Top Drugs


Quite a few of my meds are on that list @Laura14. I am not on Medicare and have private insurance but it will be interesting to see what I will paying in the future...

Honored Contributor
Posts: 10,111
Registered: ‎06-09-2014

Re: Drug prices increasing 10X rate of inflation


@WenGirl42wrote:

@Laura14wrote:

@Trinity11  I was answering your question about the popularity of insulin drugs.  Most people do take a generic pill and are not subject to being held hostage by the brand name injectables.  I'm sorry you don't like the answer but I want you to know what's reality.  

 

And as I said before, I completely agree with you.  If a generic doesn't exist yet, at some point during the 10 year on average patent period, pharmaceuticals have to be kept to a reasonable profit margin to recoup their R&D and not an astronomical one. 

 

Fair is fair all the way around and if the free market can't keep it fair, then I am all for our government stepping in.   


There is no free market.  Worldwide distribution and price controls in other countries mean non-medicare U.S. customers are disproportionately subsidizing said profit margins.

 

 


Of course we are.  We are a fragmented group since our insurance is mostly employer based not one government entity.

 

And I'm not so sure about that world.  That may be true in European markets but a lot of our pharmaceuticals make a killing overseas especially in Latin America.  NPR just did a whole show on how HIV and other well managed chronic illnesses are still a death sentence in a lot of countries because most people can not afford the HAART  and other drugs that our American insurers cover for free or a good portion of. 

 

Most of those citizens can't afford or access what several of us can manage or get for a minimal co-pay.  Kind of makes you a bit grateful we have access to what we have, doesn't it?      

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Super Contributor
Posts: 399
Registered: ‎02-27-2015

Re: Drug prices increasing 10X rate of inflation

I wonder if the cost of (seemingly inevitable) litigations are factored into drug prices? Many commercials for lawsuits against pharmaceutical companies for common drugs, etc...

 

Also, I wonder if pressure from animal-rights groups will impact drug prices/availability, such as thyroid meds from slaughtered pigs, etc.; sometimes costs are increased because of not so obvious factors. Just wondering.

Honored Contributor
Posts: 15,574
Registered: ‎03-09-2010

Re: Drug prices increasing 10X rate of inflation

When I started with Armour 5 years ago ,it was $50, it doubled to $100, now it is $135

Respected Contributor
Posts: 2,024
Registered: ‎07-05-2012

Re: Drug prices increasing 10X rate of inflation


@Laura14wrote:

@WenGirl42wrote:

@Laura14wrote:

@Trinity11  I was answering your question about the popularity of insulin drugs.  Most people do take a generic pill and are not subject to being held hostage by the brand name injectables.  I'm sorry you don't like the answer but I want you to know what's reality.  

 

And as I said before, I completely agree with you.  If a generic doesn't exist yet, at some point during the 10 year on average patent period, pharmaceuticals have to be kept to a reasonable profit margin to recoup their R&D and not an astronomical one. 

 

Fair is fair all the way around and if the free market can't keep it fair, then I am all for our government stepping in.   


There is no free market.  Worldwide distribution and price controls in other countries mean non-medicare U.S. customers are disproportionately subsidizing said profit margins.

 

 


Of course we are.  We are a fragmented group since our insurance is mostly employer based not one government entity.

 

And I'm not so sure about that world.  That may be true in European markets but a lot of our pharmaceuticals make a killing overseas especially in Latin America.  NPR just did a whole show on how HIV and other well managed chronic illnesses are still a death sentence in a lot of countries because most people can not afford the HAART  and other drugs that our American insurers cover for free or a good portion of. 

 

Most of those citizens can't afford or access what several of us can manage or get for a minimal co-pay.  Kind of makes you a bit grateful we have access to what we have, doesn't it?      


I wouldn't use the word grateful in this context, no.  In this country, people who are not on Medicare or Medicaid or who don't have a low-cost employer plan have "access" to what they can afford, and so does Latin America.  But the average standard of living is very different. 

Honored Contributor
Posts: 10,111
Registered: ‎06-09-2014

Re: Drug prices increasing 10X rate of inflation

@WenGirl42  I think they were talking about cost. 

 

In the words of a famous person I can't name because it's not allowed, "I have access to buy a $50 million home.  Can I actually get it?  No."