Drugs can be massively expensive to make with some needing many decades of work so it makes sense they are sold for a lot to gain back that investment. The only issue is if they don’t drop the price after they have recouped the cost and profit they needed. Capitalism strikes again.
I think they’d justify that by saying they need to ensure the funds they need for future research on other breakthrough treatments. This is not entirely baseless, but just another nail in the coffin for why medical research shouldn’t be funded primarily through capitalist methods.
thats thier claim, but they recover those R and D within selling the drug for a few years. but we know they are partially if not entirely subsidized by the govt, i think all the pharms do is marketing, and poaching SCIENTISTS willing to do the research, some do fund it as well.
A condition of public funding should be that aggregate internal rate of return, exclusive of executive team remuneration, should be published and capped, verified by independent audit.
Drugs can be massively expensive to make with some needing many decades of work so it makes sense they are sold for a lot to gain back that investment. The only issue is if they don’t drop the price after they have recouped the cost and profit they needed. Capitalism strikes again.
This only has legs if they’re developed without being largely government funded, which to my understanding isn’t true for a lot of drugs.
I think they’d justify that by saying they need to ensure the funds they need for future research on other breakthrough treatments. This is not entirely baseless, but just another nail in the coffin for why medical research shouldn’t be funded primarily through capitalist methods.
400000% markup seems a bit excessive
Only because you’re the one being charged not the one charging
@possiblylinux127 @WhoIzDisIz
Reasonably priced recreational drugs:
the 3 addictive powders: $10/oz, pure
Weed: $100/lb
You could actually earn plenty of money at half these prices, but I made allowances for sin taxes.
Have you seen how much it costs to develop novel drugs? It’s definitely a bit excessive, but also probably not as much as you think.
Agreed
thats thier claim, but they recover those R and D within selling the drug for a few years. but we know they are partially if not entirely subsidized by the govt, i think all the pharms do is marketing, and poaching SCIENTISTS willing to do the research, some do fund it as well.
A condition of public funding should be that aggregate internal rate of return, exclusive of executive team remuneration, should be published and capped, verified by independent audit.
a condition would be expected lower cost of what the pharm is charging too.
I don’t know a pharmaceutical that isn’t audited by a big 4 firm, so you have part of that already
The patent eventually expires and then the generics come out more cheaply.
There’s a generic for Revlimid out now, in fact.
it takes 20 years though, in the mean time they can charge how ever they want in the us.
20 years isn’t as long as it seems.
I only had to wait 17 years for lyrica (pregabalin) to go generic. I like it better than gabapentin so 👉👈
It doesn’t look like it is going to be any cheaper
In the United States. Elsewhere in the world it’s significantly cheaper.
Don’t worry, the government subsidies a huge portion of that research already.
and politicians campaigns, and the whole parties get padded with money from them to avoid lowering the costs.
You also arent funding the development of the drug that worked, but also the dozen that didnt.
Not saying they arent predatory, just that the math of “The pill only costs $0.25” is a massive oversimplification.
Keep in mind though that this research is often government subsidized, and sometimes by multiple countries.
it is why some british pharm company can charge alot more in the us, than in the UK.(one of the companies andrew witty of UHG used to work at)
That’s right. Which is why it’s such a complicated topic.
It’s a public good. The company should be owned by the government and workers, ergo they don’t need to make a profit.