The real reason U.S. drug prices are so high

[Toddsterpatriot]

The pharmaceutical industry defends the price spikes as a means of funding research to develop new drugs. But a close look at the finances of more than a dozen public drug companies illustrates research and development expenses are routinely smaller than company overheads, including marketing costs. And often after-tax profits still greatly exceed those R&D expenses that the companies say are so high.

Corporate America! What a joke.
The real reason U.S. drug prices are so high

And often after-tax profits still greatly exceed those R&D expenses that the companies say are so high.

Are you saying drug companies make money? Outrageous!!!

are you saying that companies dealing with the public interest should be unfettered?

No. Are you? Do you have any examples of unfettered companies?

yes... pharmaceutical companies that raise the cost of AIDS drugs thousands of percent.

That company is unfettered?
Please explain further.

 

[Disir]

What drug companies also don't want you to know is that they benefit enormously from basic research done at universities with grant money from the federal government. That's YOUR money, but they'd have you believe they're footing the entire bill themselves.

Yep. Often one company will take over smaller companies that have paid for the research and then try to make claim that it was their own research.

Often one company will take over smaller companies that have paid for the research

Buying smaller companies? Why is that allowed in America?
We need Bernie to put a stop to this, NOW!!!

It isn't a question of it being allowed. However, patenting something that you didn't create blows chow. It's a problem with our current little trade agreement. I know........you aren't geared for these types of conversations.

However, patenting something that you didn't create blows chow.

Why?
What about buying a patent?

Why? It restricts access to affordable medicines. What about it?

 

[Toddsterpatriot]

What drug companies also don't want you to know is that they benefit enormously from basic research done at universities with grant money from the federal government. That's YOUR money, but they'd have you believe they're footing the entire bill themselves.

Yep. Often one company will take over smaller companies that have paid for the research and then try to make claim that it was their own research.

Often one company will take over smaller companies that have paid for the research

Buying smaller companies? Why is that allowed in America?
We need Bernie to put a stop to this, NOW!!!

It isn't a question of it being allowed. However, patenting something that you didn't create blows chow. It's a problem with our current little trade agreement. I know........you aren't geared for these types of conversations.

However, patenting something that you didn't create blows chow.

Why?
What about buying a patent?

Why? It restricts access to affordable medicines. What about it?

Why? It restricts access to affordable medicines.

A big company buys a small company.
Takes the work the small company has done and gets a patent.
How does that restrict access to affordable medicines?

What about buying a patent?

What about it?

Is it as bad as "patenting something that you didn't create"?

 

[BluesLegend]

Stock holders including many public employee unions want the companies they own to generate profits, shocking! /sarcasm

 

[boilermaker55]

Profits. Yes!
Ripping the public off. NO!

Stock holders including many public employee unions want the companies they own to generate profits, shocking! /sarcasm

 

[BluesLegend]

Profits. Yes!
Ripping the public off. NO!

Stock holders including many public employee unions want the companies they own to generate profits, shocking! /sarcasm

Why can't they charge what the market will bare? If you want to address the real problem you might want to ask congress why they won't allow Americans to purchase the drugs cheaper from Canada. Specifically why Dem's didn't fix that when passing Obamacare.

 

[boilermaker55]

Who in the hell do you think is prohibiting pharmaceuticals from coming on from another country!
Give it a good think. Let me give you a hint. How as lobbyists to promote laws to their benefits?
Pharmaceuticals/Health Products $3,146,090,212
Insurance $2,190,651,832
Electric Utilities $2,013,127,133
Electronics Mfg & Equip $1,823,347,451
Business Associations $1,811,811,643
Oil & Gas $1,715,405,541
Misc Manufacturing & Distributing $1,416,425,661
Education $1,399,862,870
Hospitals/Nursing Homes $1,310,021,801
Telecom Services $1,271,840,866
Securities & Investment $1,264,774,284
Civil Servants/Public Officials $1,216,181,432
Real Estate $1,215,135,758
Health Professionals $1,189,983,794
Air Transport $1,125,384,003
Misc Issues $929,225,311
Automotive $891,793,138
Defense Aerospace $887,354,553
Health Services/HMOs $863,410,051
TV/Movies/Music $851,379,595


Feel free to distribute or cite this material, but please credit the Center for Responsive Politics. For permission to reprint for commercial uses, such as textbooks, contact the Center: [email protected]

Profits. Yes!
Ripping the public off. NO!

Stock holders including many public employee unions want the companies they own to generate profits, shocking! /sarcasm

Why can't they charge what the market will bare? If you want to address the real problem you might want to ask congress why they won't allow Americans to purchase the drugs cheaper from Canada. Specifically why Dem's didn't fix that when passing Obamacare.

 

[BluesLegend]

I think you need to look at who owns these public pharma companies, I'm sure the teachers unions are quite happy with the profits.

 

[boilermaker55]

Got some proof! Mine had proof and statistics.
Show your evidence.

I think you need to look at who owns these public pharma companies, I'm sure the teachers unions are quite happy with the profits.

 

[Toddsterpatriot]

Profits. Yes!
Ripping the public off. NO!

Stock holders including many public employee unions want the companies they own to generate profits, shocking! /sarcasm

Why can't they charge what the market will bare? If you want to address the real problem you might want to ask congress why they won't allow Americans to purchase the drugs cheaper from Canada. Specifically why Dem's didn't fix that when passing Obamacare.

If you want to address the real problem you might want to ask congress why they won't allow Americans to purchase the drugs cheaper from Canada.

Because other countries basically steal our drugs.

 

[ScienceRocks]

What drug companies also don't want you to know is that they benefit enormously from basic research done at universities with grant money from the federal government. That's YOUR money, but they'd have you believe they're footing the entire bill themselves.

And that is the money that the loserterians want to do away with. So we won't be able to compete in science anymore...The truth is the federal government is the main developer of medical innovation in this country. The private sector makes a profit off of it....

The private sector makes tens of billions of dollars of profit off of our investments. Yet, they not suppose to be taxed right.

 

[BluesLegend]

Got some proof! Mine had proof and statistics.
Show your evidence.

I think you need to look at who owns these public pharma companies, I'm sure the teachers unions are quite happy with the profits.

So I shouldn't hold my breath waiting for you to hold the actual corporation owners accountable? Teachers unions, other public employee unions pension plans are some of the biggest stock holders. I laugh every time the left starts foaming at the mouth about corporations when they are among the largest stock holders.

 

[Eaglewings]

What drug companies also don't want you to know is that they benefit enormously from basic research done at universities with grant money from the federal government. That's YOUR money, but they'd have you believe they're footing the entire bill themselves.

Yep. Often one company will take over smaller companies that have paid for the research and then try to make claim that it was their own research.

Often one company will take over smaller companies that have paid for the research

Buying smaller companies? Why is that allowed in America?
We need Bernie to put a stop to this, NOW!!!

So then you think it is ok for a drug to be $7.50 and overnight it went to $750.00 because the company was sold? Why are you standing up to this corrupt behavior, maybe because you never needed a medication but couldn't afford it.



~

 

[Toddsterpatriot]

What drug companies also don't want you to know is that they benefit enormously from basic research done at universities with grant money from the federal government. That's YOUR money, but they'd have you believe they're footing the entire bill themselves.

Yep. Often one company will take over smaller companies that have paid for the research and then try to make claim that it was their own research.

Often one company will take over smaller companies that have paid for the research

Buying smaller companies? Why is that allowed in America?
We need Bernie to put a stop to this, NOW!!!

So then you think it is ok for a drug to be $7.50 and overnight it went to $750.00 because the company was sold? Why are you standing up to this corrupt behavior, maybe because you never needed a medication but couldn't afford it.



~

So then you think it is ok for a drug to be $7.50 and overnight it went to $750.00

No, I don't think that's okay. Of course the drug has been off patent for decades.
If needed, the government should reduce the time and money needed for another drug company
to quickly produce it.

Of course if the government actually did things like that to make it easier to produce useful drugs, there'd be a lot less reason to whine about drug companies and their "evil profits".

 

[Eaglewings]

What drug companies also don't want you to know is that they benefit enormously from basic research done at universities with grant money from the federal government. That's YOUR money, but they'd have you believe they're footing the entire bill themselves.

Yep. Often one company will take over smaller companies that have paid for the research and then try to make claim that it was their own research.

Often one company will take over smaller companies that have paid for the research

Buying smaller companies? Why is that allowed in America?
We need Bernie to put a stop to this, NOW!!!

So then you think it is ok for a drug to be $7.50 and overnight it went to $750.00 because the company was sold? Why are you standing up to this corrupt behavior, maybe because you never needed a medication but couldn't afford it.



~

So then you think it is ok for a drug to be $7.50 and overnight it went to $750.00

No, I don't think that's okay. Of course the drug has been off patent for decades.
If needed, the government should reduce the time and money needed for another drug company
to quickly produce it.

Of course if the government actually did things like that to make it easier to produce useful drugs, there'd be a lot less reason to whine about drug companies and their "evil profits".

No I do not think it is ok for these companies to charge whatever they want , the recent drug that was hiked up is an immune booster for millions who need it to live.

I just finished chemo , 1 bag of chemo is $10,000 and the shot the next day ( nulesta ) is $20,000 a shot x 6. I refused the last one, it was unnecessary for me. The hospital was packed with people who have cancer. It is just wrong ~

The thing that bugs me the most is these doctors are bound by law to only prescribe drugs that are FDA approved ( I do not trust the FDA at all )There are many other options out of the US. but are illegal to cross the border. Fortunately there is marijuana low in THC but high in a natural drug that fights cancer.

I felt like a $$$$ for the system to make money once they heard the word cancer.

 

[Rustic]

The pharmaceutical industry defends the price spikes as a means of funding research to develop new drugs. But a close look at the finances of more than a dozen public drug companies illustrates research and development expenses are routinely smaller than company overheads, including marketing costs. And often after-tax profits still greatly exceed those R&D expenses that the companies say are so high.

Corporate America! What a joke.
The real reason U.S. drug prices are so high

The reason they are so high... Frivolous lawsuits.

 

[HenryBHough]

Now if we can just elect Bernie Sanders government will nationalize drug manufacturing and prices will tumble and quality soar.

Once we have that in place you'll save enough money that you can afford the toll bridge that's coming up on eBay!

 

[Toddsterpatriot]

What drug companies also don't want you to know is that they benefit enormously from basic research done at universities with grant money from the federal government. That's YOUR money, but they'd have you believe they're footing the entire bill themselves.

Yep. Often one company will take over smaller companies that have paid for the research and then try to make claim that it was their own research.

Often one company will take over smaller companies that have paid for the research

Buying smaller companies? Why is that allowed in America?
We need Bernie to put a stop to this, NOW!!!

So then you think it is ok for a drug to be $7.50 and overnight it went to $750.00 because the company was sold? Why are you standing up to this corrupt behavior, maybe because you never needed a medication but couldn't afford it.



~

So then you think it is ok for a drug to be $7.50 and overnight it went to $750.00

No, I don't think that's okay. Of course the drug has been off patent for decades.
If needed, the government should reduce the time and money needed for another drug company
to quickly produce it.

Of course if the government actually did things like that to make it easier to produce useful drugs, there'd be a lot less reason to whine about drug companies and their "evil profits".

No I do not think it is ok for these companies to charge whatever they want , the recent drug that was hiked up is an immune booster for millions who need it to live.

I just finished chemo , 1 bag of chemo is $10,000 and the shot the next day ( nulesta ) is $20,000 a shot x 6. I refused the last one, it was unnecessary for me. The hospital was packed with people who have cancer. It is just wrong ~

The thing that bugs me the most is these doctors are bound by law to only prescribe drugs that are FDA approved ( I do not trust the FDA at all )There are many other options out of the US. but are illegal to cross the border. Fortunately there is marijuana low in THC but high in a natural drug that fights cancer.

I felt like a $$$$ for the system to make money once they heard the word cancer.

the recent drug that was hiked up is an immune booster for millions who need it to live.

You're wrong.

The Times quotes IMS Health as saying sales of the drug increased to $6.3 million in 2011 from $667,000 in 2010, even as prescriptions held steady at about 12,700. By last year, sales were $9.9 million event though prescriptions declined to 8,821.

http://www.bizjournals.com/newyork/...000-percent-cost-increase-on-one-drug-is.html

 

[Eaglewings]

Yep. Often one company will take over smaller companies that have paid for the research and then try to make claim that it was their own research.

Often one company will take over smaller companies that have paid for the research

Buying smaller companies? Why is that allowed in America?
We need Bernie to put a stop to this, NOW!!!

So then you think it is ok for a drug to be $7.50 and overnight it went to $750.00 because the company was sold? Why are you standing up to this corrupt behavior, maybe because you never needed a medication but couldn't afford it.



~

So then you think it is ok for a drug to be $7.50 and overnight it went to $750.00

No, I don't think that's okay. Of course the drug has been off patent for decades.
If needed, the government should reduce the time and money needed for another drug company
to quickly produce it.

Of course if the government actually did things like that to make it easier to produce useful drugs, there'd be a lot less reason to whine about drug companies and their "evil profits".

No I do not think it is ok for these companies to charge whatever they want , the recent drug that was hiked up is an immune booster for millions who need it to live.

I just finished chemo , 1 bag of chemo is $10,000 and the shot the next day ( nulesta ) is $20,000 a shot x 6. I refused the last one, it was unnecessary for me. The hospital was packed with people who have cancer. It is just wrong ~

The thing that bugs me the most is these doctors are bound by law to only prescribe drugs that are FDA approved ( I do not trust the FDA at all )There are many other options out of the US. but are illegal to cross the border. Fortunately there is marijuana low in THC but high in a natural drug that fights cancer.

I felt like a $$$$ for the system to make money once they heard the word cancer.

the recent drug that was hiked up is an immune booster for millions who need it to live.

You're wrong.

The Times quotes IMS Health as saying sales of the drug increased to $6.3 million in 2011 from $667,000 in 2010, even as prescriptions held steady at about 12,700. By last year, sales were $9.9 million event though prescriptions declined to 8,821.

http://www.bizjournals.com/newyork/...000-percent-cost-increase-on-one-drug-is.html

"By late 2013, a number of generic manufacturers had largely stopped producing and distributing digoxin, then a cheap medicine whose use had declined, leaving only two companies dominant in the market. Both businesses — the Lannett Company and Global Pharmaceuticals, a division of Impax Laboratories — are small companies whose bottom line can rise and fall on the sales of a single drug."

What happened is the drug patent was sold to a company that hiked up the price to whatever they wanted . . The link explains it in detail~

http://www.nytimes.com/2014/07/09/health/some-generic-drug-prices-are-soaring.html

 

[Freewill]

God forbid someone goes through the trouble of inventing, marketing, and distributing drugs that help people live better lives, in exchange for a profit.

If you want to bitch about something drug companies do, how about the fact that they market psycodrugs for every sort of bad day and that every mass shooter I'm aware of was prescribed some of that shit.

I have my beefs with the industry, but the mere fact they make a profit isn't it.

It does seem odd to me that for the same drug the price in Canada is reportedly much lower.