The price of basic drug

[Queen of Hamsters]

Would it be illegal to send insulin from overseas...?

[Independent voter]

But why did the price of insulin go up so much?

Did some company stop producing it? So that there's now a shortage? If so, why did they stop producing it?

In a capitalist system, competition keeps the prices low. What happened to the competition?

[craigw]

im in the union. I have top notch insurance. payed no more than 100 dollars last year. have wife and two kids. I suggest instead of bitching about insurance costs, get a job where your employer actually gives a fuck about you and gives you the best insurance money can buy, cause you know you make him millions a year. the system will always be broken. find that "loophole" that gives you the best for nothing.

[Gasparde]

It's beyond me, as a EU person, how the US can actually still have people being against government provided general healthcare.
The prime argument of 'open market competition/the best doctors and researchers will come to the US and work their hardest there because there's money to make' holds little value when you have people dying due to a 20 bucks drug being sold for 250 bucks. Your government watches people dying because there's money to be made from that... and then you even have people approving of this, most likely because it hasn't personally bothered them yet. It's baffling how you guys are not going to the streets about your government not giving a shit about a handful of companies ruling your country - but I suppose that's the great freedom everyone over there chooses and loves.

[Lynarii]

But why did the price of insulin go up so much?

Did some company stop producing it? So that there's now a shortage? If so, why did they stop producing it?

In a capitalist system, competition keeps the prices low. What happened to the competition?

It went up because the companies that made it got together and agreed to raise it. And starting up a new pharmaceutical company is VERY expensive and difficult to do, especially if you want to keep it under your own personal control so that the big companies can't just buy it and take it over.

It's very easy to say "I want to make a company that sells generic drugs to the masses for cheaper than the big pharma companies" and a lot harder to pull it off when the price tag of a production line capable of producing that much of a drug and a distribution network capable of getting it to consumers gets factored in. The companies that already have the production lines and distribution networks in place have an insane competitive advantage against you that they absolutely will use to bully you into playing by their rules.

[Zan15]

But why did the price of insulin go up so much?

Did some company stop producing it? So that there's now a shortage? If so, why did they stop producing it?

In a capitalist system, competition keeps the prices low. What happened to the competition?

Because they have given them full control of specific drugs and the whole market for that drug....say for about 25 years. Even though they made no real changes.
Gives them full price control since they have no competition.

Then the industry has a "agreed non compete clause" between themselves. Kind of a gentleman's agreement not to really go in against each other.


the whole industry is a controlled monopoly, fuck the capitalist system it does not exist in drugs

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im in the union. I have top notch insurance. payed no more than 100 dollars last year. have wife and two kids. I suggest instead of bitching about insurance costs, get a job where your employer actually gives a fuck about you and gives you the best insurance money can buy, cause you know you make him millions a year. the system will always be broken. find that "loophole" that gives you the best for nothing.

Let me guess, state/federal job?

Even though YOU are only paying 100 dollars a month the company YOU work for is paying thousands. Eventually this will hit their bottom line and you will suffer. One can argue you have already suffered since without this huge inflation you could have seen even larger raises and lower insurance rates then 100 dollars.



so there is 198 million union jobs out there with top notch insurance for all the other workers to "get"?

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It went up because the companies that made it got together and agreed to raise it. And starting up a new pharmaceutical company is VERY expensive and difficult to do, especially if you want to keep it under your own personal control so that the big companies can't just buy it and take it over.

It's very easy to say "I want to make a company that sells generic drugs to the masses for cheaper than the big pharma companies" and a lot harder to pull it off when the price tag of a production line capable of producing that much of a drug and a distribution network capable of getting it to consumers gets factored in. The companies that already have the production lines and distribution networks in place have an insane competitive advantage against you that they absolutely will use to bully you into playing by their rules.

its actually real easy to jump into the generic world, but then the pharma industry undercuts "cost" on those drugs till the small company chokes and has to bail on their low prices.

like I said its a monopoly that needs to be regulated.

[Logwyn]

Because they have given them full control of specific drugs and the whole market for that drug....say for about 25 years. Even though they made no real changes.
Gives them full price control since they have no competition.

Then the industry has a "agreed non compete clause" between themselves. Kind of a gentleman's agreement not to really go in against each other.


the whole industry is a controlled monopoly, fuck the capitalist system it does not exist in drugs

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its actually real easy to jump into the generic world, but then the pharma industry undercuts "cost" on those drugs till the small company chokes and has to bail on their low prices.

like I said its a monopoly that needs to be regulated.

Monopolies still are governed by supply and demand.

[Zan15]

Monopolies still are governed by supply and demand.

of which they have total control over supply, and can manipulate implied demand.....

they are not "governed" by it they control it.....

[endersblade]

When are people going to stop making these stupid, pointless articles and realize -EVERYTHING- in the US is overpriced because we're run by greedy corporations? Rent, Schooling, Medical, everything is illogically expensive for absolutely no real reason. What HASN'T gone up is how much we get paid to go along with it. So we get paid less and less compared to the more and more that prices for everything keep going up.

Yep, Capitalism works folks.

[Santti]

Than you Jebus I live in Finland. Don't have to deal with shit like not being able to afford my medicine.

[Tommi]

I've never understood the whole "let people die if they won't pay our prices" for medical care. The treatment I get (Infliximab) for Crohn's Disease every 8 weeks is expensive as fuck. Due to the treatment cost changing depending on patient weight, it costs £2300 per infusion for me at my weight of 80Kg, just for a 30 min infusion. If I had to pay for it myself, I would have died years ago.

I simply cannot understand people who put profit before life. No one should have to die so someone else can make money.

[EliWallach]

Vote for medicare for all, see how fast it changes.

Well first they should fix Medicare since it doesn't cover prescription drugs.

[Freighter]

I've never understood the whole "let people die if they won't pay our prices" for medical care. The treatment I get (Infliximab) for Crohn's Disease every 8 weeks is expensive as fuck. Due to the treatment cost changing depending on patient weight, it costs £2300 per infusion for me at my weight of 80Kg, just for a 30 min infusion. If I had to pay for it myself, I would have died years ago.

I simply cannot understand people who put profit before life. No one should have to die so someone else can make money.

Even in countries with universal healthcare there is a limit to how much they're willing to spend on you because the money available to use is limited.

[yetgdhfgh]

There is simply nobody who can regulate it cause the US government has a hands off policy when it comes to health care and believes the market will always correct itself.

Iam British but lives in the US so i have had experience with both systems.

You see with the NHS or National Health Service the Government controls it which means if drug companies want to do business in the UK they have to negotiate with the Government and if they cant come to a deal then they simply cant do business in the UK and that means them losing out millions possibly billions cause without a NHS contract they cant do business in the UK. (Sure they could go private but very few people actualy have private insurance in the UK) This leads to the UK having a strong negotiating tactic when it comes to drug prices.

Until the US government takes a stronger position then the Pharma companies can do whatever the fuck they want and charge whatever the fuck they want.

[szechuan]

Dude. 1300% price increase has zero to do with health insurance being expensive. Did you even check the table in the story? Shows perfectly well how much it costs elsewhere. This has nothing to do with "increased costs", but the need for always bigger profits. Turning healthcare into business has led to this.

It's the entire system, High Pharmaceutical Prices also effect Insurance Companies which is passed onto to the consumer at the end.

[Zan15]

Well first they should fix Medicare since it doesn't cover prescription drugs.

Umm what?

It sure does.

Its shitty, it has holes in it, it does not allow for negotiations of prices, it cost more money depending on what plan you sign up for.....etc etc



Just in case you don't believe me here is the info right from the source:


https://www.medicare.gov/drug-covera...-drug-coverage
https://www.medicare.gov/drug-coverage-part-d


Medicare prescription drug coverage is an optional benefit. Medicare offers prescription drug coverage to everyone with Medicare. If you decide not to get Medicare drug coverage when you're first eligible, you'll likely pay a late enrollment penalty if you join later, unless one of these applies:


2 ways to get drug coverage

Medicare Prescription Drug Plan (Part D). These plans (sometimes called "PDPs") add drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private Fee-for-Service (PFFS) Plans, and Medicare Medical Savings Account (MSA) Plans.

Medicare Advantage Plan (Part C) (like an HMO or PPO) or other Medicare health plan that offers Medicare prescription drug coverage. You get all of your Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) coverage, and prescription drug coverage (Part D), through these plans. Medicare Advantage Plans with prescription drug coverage are sometimes called “MA-PDs.” You must have Part A and Part B to join a Medicare Advantage Plan.

[Ozyorkbourne]

We actually get charged that much in some hospitals in the US even though you can walk into a pharmacy and get more for $8.

We kind of have something similar in the UK. A prescription is £8.20 or so, but some items prescribed can be bought over the counter for £3-4 sometimes.

[Poopymonster]

I've never understood the whole "let people die if they won't pay our prices" for medical care. The treatment I get (Infliximab) for Crohn's Disease every 8 weeks is expensive as fuck. Due to the treatment cost changing depending on patient weight, it costs £2300 per infusion for me at my weight of 80Kg, just for a 30 min infusion. If I had to pay for it myself, I would have died years ago.

I simply cannot understand people who put profit before life. No one should have to die so someone else can make money.

It's really easy to explain. The logic is: It's not my life on the line, so fuck em. Profit.

[Tommi]

Even in countries with universal healthcare there is a limit to how much they're willing to spend on you because the money available to use is limited.

Must say, I've never come across this yet, and my medical history contains very expensive treatments. Always got everything I needed via NHS. For example, this is my medical history, sans identifying info: https://puu.sh/D0LuQ/feb9b2521d.png

NHS has covered everything.

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It's really easy to explain. The logic is: It's not my life on the line, so fuck em. Profit.

I feel this is why the human races progress is stagnant. Profit before anything is is just wrong. Whilst I won't see it in my lifetime, I do hope for a time when money no longer matters.

[Charge me Doctor]

when you have certificates to pay for, overinflated pay for top managers and long production chain you get this. The whole system is sick and needs fixing