Trump going to bat for the drug companies: Other countries need to start paying more for their drugs

[RedFred]

I guess making $85 billion a year isn't good enough, they want more.

Pay up you foreign Trump supporters!

Trump blasted foreign countries, which he said have been "freeloading" on the United States with price controls that limit what their own citizens can be charged for medications.

nbcnews.com/business/business-news/trump-tells-drugmakers-manufacture-u-s-n714676

[Barry-xlovecam]

Unfortunately, that is an over simplification.

Big Pharma, US AND foreign, is overcharging the US consumer because there is little profit in selling patent pharmaceuticals in overseas markets that are cost capped. American nationals are going to Canada and Mexico to buy their prescription medicine ( patent pharmaceuticals ) because the drugs cost less there.

The US needs to have cost controls put in place also. Pharmaceutical manufacturers need a fair ROI also. Problem is this is not possible in an unregulated market.

It's totally fucked up ...

[Bladewire]

Pretty fucked up .

"If there?s anything Trump might be able to do by executive order, it?s work with the head of Health and Human Services (who may be his nominee Tom Price) to authorize the importation of drugs from other countries, where they don?t cost as much. That would not require further action by Congress, Sachs says. ?If Trump is truly committed to reducing drug prices, as he says he is, this would be one action his administration could take on its own,? she says. ?Stay tuned." Forbes

[Barry-xlovecam]

You cannot import patent infringing drugs unless it is your personal prescription -- US Customs will make an exception for that.

So bringing in patent pharmaceuticals in bulk is not going to happen.

[crockett]

Originally Posted by Barry-xlovecam

Unfortunately, that is an over simplification.

Big Pharma, US AND foreign, is overcharging the US consumer because there is little profit in selling patent pharmaceuticals in overseas markets that are cost capped. American nationals are going to Canada and Mexico to buy their prescription medicine ( patent pharmaceuticals ) because the drugs cost less there.

The US needs to have cost controls put in place also. Pharmaceutical manufacturers need a fair ROI also. Problem is this is not possible in an unregulated market.

It's totally fucked up ...

If it wasn't profitable for them to sell their pharma products in Canada & Mexico they wouldn't sell there. They aren't selling in those markets and losing money.. They are just filled with greed and want more money rather than helping people as a company in the healthcare business should be doing..

[beerptrol]

Trump is looking after the little guy who has to choose between a new Gulfstream G6 or heaven forbid a used G5

Fuck those greedy elderly who have to choose between buying food, paying bills, or paying for life saving meds

[Bladewire]

Originally Posted by beerptrol

Trump is looking after the little guy who has to choose between a new Gulfstream G6 or heaven forbid as used G5

Fuck those greedy elderly who have to choose between buying food, paying bills, or paying for life saving meds

[JFK]

Originally Posted by RedFred

I guess making $85 billion a year isn't good enough, they want more.

Pay up you foreign Trump supporters!




nbcnews.com/business/business-news/trump-tells-drugmakers-manufacture-u-s-n714676

The need for Greed

[Tasty1]

let's see what happens, copying works perfect. Cheap medicine everywhere.

[Bladewire]

Originally Posted by Bjorn_Tasty1

I know people who work in the farmacy in Mexico for a European company. They are complaining about the Johnsono&Jonhnsen American farma company. Johnsson & Johnssen takes a big market share cause they can lower the prices because the American government is supporting them..... That is not allowed in Europe.

So let thinks this over. Johnson & Johnson can deliver medicines cheaper in Mexico, because the American tax payers pay a little bit for them to compete on price with European companies.

lol

That pisses me off. Drug companies need to be punished for that.

[pimpmaster9000]

boy oh boy trump is costing americans hella money so far...hella

pharmabro approves

[kane]

When you read the article there is one thing he is correct about - drug prices are way too high. However, it seems like he thinks if other countries were forced to pay more then the drug companies would lower their costs for US buyers because they were making more money in other countries. I think we all know that wouldn't happen. The extra profit would just go to shareholders and executives and the prices would stay the same.

[Bladewire]

Originally Posted by kane

When you read the article there is one thing he is correct about - drug prices are way too high. However, it seems like he thinks if other countries were forced to pay more then the drug companies would lower their costs for US buyers because they were making more money in other countries. I think we all know that wouldn't happen. The extra profit would just go to shareholders and executives and the prices would stay the same.

I think it's time for the inflated pharma bubble in America to pop!

[kane]

Originally Posted by Bladewire

I think it's time for the inflated pharma bubble in America to pop!

Agreed 100%. They know how to game the system and are getting rich while people suffer because they can't afford the medication that they need.

[MaDalton]

remember how he promised to negotiate lower drug prices? the master negotiator that he is?

instead of that, the rest of the world (who does exactly that) is now supposed to pay more.

brilliant.

[RedFred]

Originally Posted by StefanG

remember how he promised to negotiate lower drug prices? the master negotiator that he is?

instead of that, the rest of the world (who does exactly that) is now supposed to pay more.

brilliant.

Exactly my point. Instead of working for the American people he reneges and becomes chummy with billionaire drug execs looking for ways to make them even richer.

[Barry-xlovecam]

A patent drug costs $1 a pill to make when you amortize the R&D cost.
The government of Euro country demands you sell it for $0.50 a pill because they want a low price. If that is really so they should tell them to go die.

Maybe, big pharma is just full of shit -- they argue that the pill costs $1 when maybe it really costs $0.16 and they are selling it for $3 in the USA and for $.50 in Euroland?

We do need to investigate this thoroughly.

[kane]

Originally Posted by Barry-xlovecam

A patent drug costs $1 a pill to make when you amortize the R&D cost.
The government of Euro country demands you sell it for $0.50 a pill because they want a low price. If that is really so they should tell them to go die.

Maybe, big pharma is just full of shit -- they argue that the pill costs $1 when maybe it really costs $0.16 and they are selling it for $3 in the USA and for $.50 in Euroland?

We do need to investigate this thoroughly.

More likely would be if the pill cost 16 cents to make and they sold it for $3 in Europe they would sell the same pill for $30 or more in the US.

There is a cancer treatment that costs the manufacturer about $600 to make and they sell it for $80,000. When asked if they would consider lowering the price so more people could afford it the CEO of the company replied with, "Why would we do that?"

[beerptrol]

Originally Posted by Barry-xlovecam

A patent drug costs $1 a pill to make when you amortize the R&D cost.
The government of Euro country demands you sell it for $0.50 a pill because they want a low price. If that is really so they should tell them to go die.

Maybe, big pharma is just full of shit -- they argue that the pill costs $1 when maybe it really costs $0.16 and they are selling it for $3 in the USA and for $.50 in Euroland?

We do need to investigate this thoroughly.

I think it's like Nike shoes. Cheap to make but all the over head from paying celebrities huge contracts, ceo salary and marketing.
In big Pharms case its marketing, lobbying, ceo salaries, and paying off politicians

Some drugs were developed with tax payer money and yet they hike up the prices

[JohnnyClips - BANNED FOR LIFE]

Why are so many fucking people on drugs anyways? They take a pill for this and for that and then need another pill...it's a fucking joke

[kane]

Originally Posted by beerptrol

I think it's like Nike shoes. Cheap to make but all the over head from paying celebrities huge contracts, ceo salary and marketing.
In big Pharms case its marketing, lobbying, ceo salaries, and paying off politicians

Some drugs were developed with tax payer money and yet they hike up the prices

A lot of it is the pharma companies knowing how to game the system. I was diagnosed with asthma in 1979 when I was 8-years-old. The first inhaler I was prescribed was called Proventil. It is still on the market today. There are 3 or 4 different brands of albuterol based inhalers available today, but no generics. In the roughly 38 years since I was diagnosed, there have only been generics available for a few years because the manufacturers of these things are able to renew their exclusivity.

Another crazy thing is their pricing. The last time I bought an inhaler using cash was about a year ago (normally I have an insurance co-pay) and it was about $50. I asked about buying one with cash recently and the price was now $100. I asked the pharmacist why it doubled in price in the last year and he just shrugged and said, "Becuase they know you have no other real option."

kind of sad.

[AmeliaG]

Originally Posted by kane

A lot of it is the pharma companies knowing how to game the system. I was diagnosed with asthma in 1979 when I was 8-years-old. The first inhaler I was prescribed was called Proventil. It is still on the market today. There are 3 or 4 different brands of albuterol based inhalers available today, but no generics. In the roughly 38 years since I was diagnosed, there have only been generics available for a few years because the manufacturers of these things are able to renew their exclusivity.

Another crazy thing is their pricing. The last time I bought an inhaler using cash was about a year ago (normally I have an insurance co-pay) and it was about $50. I asked about buying one with cash recently and the price was now $100. I asked the pharmacist why it doubled in price in the last year and he just shrugged and said, "Becuase they know you have no other real option."

kind of sad.

I agree. While ACA may have helped some people, prices for many medications have skyrocketed. Part of the lack of choice your pharmacist is talking about is how many fewer people are cash patients.

No idea what the impact of new policies will be, but here is the Reuters article on the big pharma meeting Trump pushes drugmakers for lower prices, more U.S. production | Reuters

[CurrentlySober]

Seems strange reading this, cause as a diabetic all my prescription drugs are free, along with any health care / hospital cover I need in the UK...

[pimpmaster9000]

oh I can not wait for trump to raise prices of US medication abroad so that the chineese can swamp the market with even more cheap generics...not that anybody outside the USA would consider paying US prices for medication for one second

wallgreens viagra: 60$/tab

home delivery in serbia: $1.50 <--- I was not happy with this but home delivery is home delivery

[Paul Markham]

Do you not want us to be as fucked as the Americans are?

[_Richard_]

Originally Posted by StefanG

remember how he promised to negotiate lower drug prices? the master negotiator that he is?

instead of that, the rest of the world (who does exactly that) is now supposed to pay more.

brilliant.

and yet americans wonder why we're so concerned with their elections.

[pimpmaster9000]

Originally Posted by Paul Markham

Do you not want us to be as fucked as the Americans are?

dude nobody is as fucked as americans...the wind plays their gaping assholes like a pan flute

[beerptrol]

Originally Posted by crucifissio

oh I can not wait for trump to raise prices of US medication abroad so that the chineese can swamp the market with even more cheap generics...not that anybody outside the USA would consider paying US prices for medication for one second

wallgreens viagra: 60$/tab

home delivery in serbia: $1.50 <--- I was not happy with this but home delivery is home delivery

they could raise it to 1k a tab and it wouldn't matter to the politicians as they get free health insurance paid by the taxpayers

[NewNick]

Originally Posted by Barry-xlovecam

A patent drug costs $1 a pill to make when you amortize the R&D cost.
The government of Euro country demands you sell it for $0.50 a pill because they want a low price. If that is really so they should tell them to go die.

Maybe, big pharma is just full of shit -- they argue that the pill costs $1 when maybe it really costs $0.16 and they are selling it for $3 in the USA and for $.50 in Euroland?

We do need to investigate this thoroughly.

If the product costs you a dollar to make you say no thank you I choose not to supply you at 50c.

No one is getting their arm twisted here - turn the business down if the terms of the deal are not to your liking.

[pimpmaster9000]

Originally Posted by beerptrol

they could raise it to 1k a tab and it wouldn't matter to the politicians as they get free health insurance paid by the taxpayers

it already is $1K/tab...theres this new hep c cure, the price is literally $1k/tab...

"The first of the new hepatitis C drugs ? Sovaldi, approved in late 2013 ? is famous for its list price of $1,000 a pill, or $84,000 for the 12-week course of treatment. "



the india/china generic will probably be about 20$ for the whole course...

[beerptrol]

Originally Posted by crucifissio

it already is $1K/tab...theres this new hep c cure, the price is literally $1k/tab...

"The first of the new hepatitis C drugs ? Sovaldi, approved in late 2013 ? is famous for its list price of $1,000 a pill, or $84,000 for the 12-week course of treatment. "



the india/china generic will probably be about 20$ for the whole course...

lol I was talking about the viagra tab you mentioned.
The family value politicians who need it so they can bang hookers and Mistresses

[MaDalton]

Originally Posted by Barry-xlovecam

A patent drug costs $1 a pill to make when you amortize the R&D cost.
The government of Euro country demands you sell it for $0.50 a pill because they want a low price. If that is really so they should tell them to go die.

Maybe, big pharma is just full of shit -- they argue that the pill costs $1 when maybe it really costs $0.16 and they are selling it for $3 in the USA and for $.50 in Euroland?

We do need to investigate this thoroughly.

you really think pharma corps could be forced to sell below costs?

also here politicians cave to big pharma but not as blatantly

[Barry-xlovecam]

Originally Posted by StefanG

you really think pharma corps could be forced to sell below costs?

also here politicians cave to big pharma but not as blatantly

I really don't know nor does the public.
Does the public know what each item we sell really costs? What is the true COGS?

I know it is not the chemicals compounded and the manufacturing direct cost that determines the true unit cost.

If the legislature dictated what price or what markup you were entitled to for your content would you object? I know I would.

World price should be uniform. A happy median. Right now the price spread across markets is manipulated -- we do know this as fact

[INever]

Originally Posted by crockett

If it wasn't profitable for them to sell their pharma products in Canada & Mexico they wouldn't sell there. They aren't selling in those markets and losing money.. They are just filled with greed and want more money rather than helping people as a company in the healthcare business should be doing..

This exactly.