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Honored Contributor
Posts: 13,954
Registered: ‎03-10-2010

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


@Greenhouse wrote:


I am not condoning the practice but many drugs are old and become ineffective, so prices sometimes are raised in order to fund research for better ones to treat the same conditions. 


This company raised prices because it has been bought and sold so often that it has a HUGE debt load.

The new owner figures that he can pass the cost of his acquisition on to sick people who need the drug.

This has nothing to do with R&D costs and everything to do with corporate greed.

Honored Contributor
Posts: 13,954
Registered: ‎03-10-2010

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


@Love Roses wrote:

I heard this on the local news.  Wow.  If a patent runs out on a drug, other companies can get the recipe and produce it for much less.  Maybe this will happen.


Unfortunately companies are DROPPING generics - or colliuding with other drug manufacturers to make only one dupe - all in the name of keeping profits high.

I need a drug when I bleed to clot my blood. It isn't available as a generic and since it is only used by hemophiliacs and other rare illnesses - it's over 1K for ONE dose now.

Esteemed Contributor
Posts: 5,260
Registered: ‎04-20-2013

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


@NoelSeven wrote:

@Greenhouse wrote:

@NoelSeven wrote:

@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.

 

****************************

 

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.


 


I am not condoning the practice but many drugs are old and become ineffective, so prices sometimes are raised in order to fund research for better ones to treat the same conditions. 


**********************

 

That isn't what happened.  The drug is effective and this guy did not buy it to make it better. 


I try to be positive and think the best of people that maybe greed isn't the motive and that people do not make money at the expense of a group of sick people.  It may not be true but it makes me feel better about humans....a coping mechanism, I guess 

Honored Contributor
Posts: 13,953
Registered: ‎03-09-2010

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


@Greenhouse wrote:

@NoelSeven wrote:

@Greenhouse wrote:

@NoelSeven wrote:

@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.

 

****************************

 

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.


 


I am not condoning the practice but many drugs are old and become ineffective, so prices sometimes are raised in order to fund research for better ones to treat the same conditions. 


**********************

 

That isn't what happened.  The drug is effective and this guy did not buy it to make it better. 


I try to be positive and think the best of people that maybe greed isn't the motive and that people do not make money at the expense of a group of sick people.  It may not be true but it makes me feel better about humans....a coping mechanism, I guess 


*****************************

 

That would be nice but this guy has at least one red flag in his past.  To make it even worse, he's not the only one and it is all predicted to have a horrible effect on the cost of health care.  

A Thrill Of Hope The Weary World Rejoices
Honored Contributor
Posts: 9,139
Registered: ‎04-16-2010

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


@Greenhouse wrote:

@NoelSeven wrote:

@Greenhouse wrote:

@NoelSeven wrote:

@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.

 

****************************

 

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.


 


I am not condoning the practice but many drugs are old and become ineffective, so prices sometimes are raised in order to fund research for better ones to treat the same conditions. 


**********************

 

That isn't what happened.  The drug is effective and this guy did not buy it to make it better. 


I try to be positive and think the best of people that maybe greed isn't the motive and that people do not make money at the expense of a group of sick people.  It may not be true but it makes me feel better about humans....a coping mechanism, I guess 


 

I can understand that way of thinking because I used to think that way...and then my son was injured and his life forever altered. Because of this, I have had to deal with hospitals, staff, doctors, meds in a way I NEVER dreamed of.....and it's left me with an opinion that is 180 degrees opposite of how I once felt about humanity in many ways.

 

I was sitting among family members whose loved ones are dealing/fighting cancer; different types but the battles are still the same. There were 20 people or so and their ages ranged from mid 20's to early 60's. EVERY SINGLE PERSON believed there IS a cure for cancer but due to the money making machine cancer has become, that cure will remained buried for some time. I sat and listened as my child went through surgery for his biopsy and you know what? I absolutely think they're right.

 

Humanity is not what this world consists of, especially when money is involved.

Super Contributor
Posts: 439
Registered: ‎03-09-2010

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


@NoelSeven wrote:

THANKS Smaug!  I couldn't get that photo to C&P and I wanted everyone to see that smug self-centered guy. 

 


@Smaug wrote:

Hedge fund scum

 

HF


 


 

His mother must be SO proud! 

Honored Contributor
Posts: 13,953
Registered: ‎03-09-2010

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

I tend to be very pragmatic.  I think money is most often the goal.  Not always, two young people have been working on treatment for pancreatic cancer, on their own.

 

But...... There was no advancement in treating SLE/lupus for 50 years.

 

Not enough money in it, I guess.

A Thrill Of Hope The Weary World Rejoices
Trusted Contributor
Posts: 1,919
Registered: ‎08-31-2010

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


@Love Roses wrote:

I heard this on the local news.  Wow.  If a patent runs out on a drug, other companies can get the recipe and produce it for much less.  Maybe this will happen.


What is more likely to happen will be the scenario where the patent holder will pay other companies to not make the generic version.  Or they'll create a new purpose for a drug, and then a new patent comes into play.  I think that's what happened with Retin A when it went from an acne treatment to a wrinkle cream.


Read it! New England Journal of Medicine—May 21, 2020
Universal Masking in Hospitals in the Covid-19 Era

“We know that wearing a mask outside health care facilities offers little, if any, protection from infection.
Trusted Contributor
Posts: 1,919
Registered: ‎08-31-2010

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


@MrsSweetieBear wrote:

Yep, perfectly legal in our morally corrupt country.  Another reason why we are certainly not the greatest/best country now.  Humans are  base vile creatures. I'm ashamed to be one.


Where in the blue blazes do you think all these great drugs come from?  Most of them come from the U.S. of A.  The profit motive spurs people and companies to create, and few are coming out of the public sector.  Other countries may charge less, but they also may not have them in the first place.  Women in England had to protest in the streets to get a common BC drug from this country that is routinely given I this country.  

 

I'm not defending the guy in the least, but the bigger picture is important.

Read it! New England Journal of Medicine—May 21, 2020
Universal Masking in Hospitals in the Covid-19 Era

“We know that wearing a mask outside health care facilities offers little, if any, protection from infection.
Esteemed Contributor
Posts: 5,758
Registered: ‎03-09-2010

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

[ Edited ]

Latest development:

 

http://www.nytimes.com/2015/09/22/business/big-price-increase-for-tb-drug-is-rescinded.html?smid=tw-...

 

A huge overnight price increase for an important tuberculosis drug has been rescinded after the company that acquired the drug gave it back to its previous owner under pressure

 

 

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