A Huge Overnight Increase in a Drug’s Price Raises Protests
1–10 of 124 posts
Re: A Huge Overnight Increase in a Drug’s Price Raises Protests
#2I'm fairly sure this guy has been discussed here before. A year ago or so: https://web.archive.org/web/20150420142850/http://pipeline.c...
Re: A Huge Overnight Increase in a Drug’s Price Raises Protests
#3My first thought was generics since it's so old, but this is simply amazing:
> With the price now high, other companies could conceivably make generic copies, since patents have long expired. One factor that could discourage that option is that Daraprim’s distribution is now tightly controlled, making it harder for generic companies to get the samples they need for the required testing.
> The switch from drugstores to controlled distribution was made in June by Impax, not by Turing. Still, controlled distribution was a strategy Mr. Shkreli talked about at his previous company as a way to thwart generics.
How can this be true?
Re: A Huge Overnight Increase in a Drug’s Price Raises Protests
#4I'm fairly sure this guy has been discussed here before. A year ago or so: https://web.archive.org/web/20150420142850/http://pipeline.c...
Discussed at https://news.ycombinator.com/item?id=8302451.
Re: A Huge Overnight Increase in a Drug’s Price Raises Protests
#5While shocking people have to keep in mind that pricing relates to more than cost but more importantly value. The fact that a particular product or service was priced a certain way for years is not as relevant as it might seem on the surface. I pay a very low price for a generic drug (copay doesn't even matter) but the value to me of the drug is much higher. The non generic version is priced perhaps 10 times as much but still provides value at that price. Perhaps these prices in the article are super inflated but my point is the fact that a drug was priced at $5 per tablet and now is $50 per tablet is not a non-starter in itself. Who cares what the % increase is? The question is does the drug provide value at $50 per tablet? Also a particular person's ability to pay doesn't really factor into this. I am sure the drug companies would love to be able to charge some classes of people more (Larry Ellison) and some less (jobless). But they are not allowed to do this. I know people's automatically will think "ripoff" (and maybe it is a "ripoff" whatever that is) however a price increase in itself does not indicate a ripoff.
"Cycloserine, a drug used to treat dangerous multidrug-resistant tuberculosis, was just increased in price to $10,800 for 30 pills from $500 "
Right and I don't take any drugs that even cost $500 for 30 pills (let alone $10,800). So this article could have just easily compared the pills that I buy 30 for $10 to 30 for $500 and written a similar article.
Re: A Huge Overnight Increase in a Drug’s Price Raises Protests
#6I'm fairly sure this guy has been discussed here before. A year ago or so: https://web.archive.org/web/20150420142850/http://pipeline.c...
Discussed at https://news.ycombinator.com/item?id=8302451 .
Feature request: Along those lines, I was trying to find an article (using algolia) which discussed different names for AWS service names confusion and it was useless for that purpose (given search terms I tried). Since I always clear my browser history I couldn't see the links that I had visited.
A nice feature would be if there was a way to note which article links I clicked on or which comment threads I have visited. (If I comment then it's easy to find but I read more than I comment). That way I could just browse back that history and could have easily found that article that I was looking for.
Re: A Huge Overnight Increase in a Drug’s Price Raises Protests
#7While shocking people have to keep in mind that pricing relates to more than cost but more importantly value. The fact that a particular product or service was priced a certain way for years is not as relevant as it might seem on the surface. I pay a very low price for a generic drug (copay doesn't even matter) but the value to me of the drug is much higher. The non generic version is priced perhaps 10 times as much…
No, unless you feel that people who use medicine are nothing more than a resource to be exploited.
Were it not for a (probably illegal in this case) monopoly, other people would be able to make that same pill for $5 per tablet. And then nobody would pay $50 for the pill.
Supply and demand IS NOT the same as "charging everyone as much as they will pay for everything". It's inherently unfair to everyone who has to buy that thing, and that's why people think it's a rip-off, because it is.
[edited to remove some hyperbole]
Re: A Huge Overnight Increase in a Drug’s Price Raises Protests
#8My first thought was generics since it's so old, but this is simply amazing: > With the price now high, other companies could conceivably make generic copies, since patents have long expired. One factor that could discourage that option is that Daraprim’s distribution is now tightly controlled, making it harder for generic companies to get the samples they need for the required testing. > The switch from drugstores t…
Looks like 90% of drug regulations are BS sold with the excuse of "protecting the public"
Importing a (tested) cheaper version would solve this price abuse pretty quickly but of course the government, AMA, etc loves to meddle (of course some control is necessary)
Re: A Huge Overnight Increase in a Drug’s Price Raises Protests
#9There are people who are evil. I don't care what economic language in which they couch it. They deserve what they get -- and I hope it is coming to them, soon. (This is not a threat, just a strongly held sentiment.)
P.S. I hope that micro-laboratories and production diversification will soon put a final "paid" to such exploitative strategies and tactics. Yeah, the "risk" of a chemistry and biologics lab in every back yard and basement... I'm increasingly of the sentiment that it is less than the increasing risk of autocratic and monopolistic control of centralized production and distribution.
This is a somewhat surprising development in my own attitude, to me. As I recall observing all the bone-headed and sometimes downright risky and uncaring behavior of e.g. chemistry students, including potential majors -- and some of the instructors -- back in college. Part of me is strongly concerned about keeping them from poisoning others and whatever environment they find themselves in.
Nonetheless, as I observe an increasing momentum towards artificial scarcity and profiteering -- often by people with no credit for making or enabling the original discoveries and creations -- I see decentralization as the only effective response.
I, and many others, tried "playing by the rules." Turns out, they've been increasingly rigged, and us, screwed. I'm not the only one deciding, "you have to take care of yourself." Not just in general, but seemingly in every aspect.
Re: A Huge Overnight Increase in a Drug’s Price Raises Protests
#10While shocking people have to keep in mind that pricing relates to more than cost but more importantly value. The fact that a particular product or service was priced a certain way for years is not as relevant as it might seem on the surface. I pay a very low price for a generic drug (copay doesn't even matter) but the value to me of the drug is much higher. The non generic version is priced perhaps 10 times as much…
No, unless you feel that people who use medicine are nothing more than a resource to be exploited. Were it not for a (probably illegal in this case) monopoly, other people would be able to make that same pill for $5 per tablet. And then nobody would pay $50 for the pill. Supply and demand IS NOT the same as "charging everyone as much as they will pay for everything". It's inherently unfair to everyone who has to buy…
Quite an opener, do you practice hyperbole often?
Fairness is whatever two people will agree to pay for a service.
Imagine how silly it would be if we all paid the same amount for seats on an airline - which is how it worked before deregulation. Many seats would go empty, the utility would not be maximized, and we'd be missing out on the great transfer of wealth from the rich to the poor.