Trump Sends Pharma Stocks Down with New Tweet on Drug Prices • Hacker News Board

Re: Trump Sends Pharma Stocks Down with New Tweet on Drug Prices

#21

Post by throwaway91111 » Tue, Mar 07, 2017, 5:10 PM UTC

StClaire wrote: post #7

It costs a quarter to manufacture each pill but the manufacturers charge several dollars for that pill. But they don't just price gouge. Drug companies need to file patents on their drug almost as soon as they sketch they come up with drug. From there they need at least 8 years to get through the FDAs approval process, so the manufacturers don't get nearly as much exclusive time with their IP as other industries. (Th…

Given a glance at the mental health medications I see, reduced time to market is the last thing that would help.

I don't believe Western Europe is any better in quality of drug vetting.

Re: Trump Sends Pharma Stocks Down with New Tweet on Drug Prices

#22

Post by lukasm » Tue, Mar 07, 2017, 5:11 PM UTC

kar1181 wrote: post #12

Having lived in both the UK and US I find the cost of medicines very hard to understand here. For example in the UK I can buy a ventolin inhaler for £10 over the counter (if I went to the Doctor it would be free). But in the US, an inhaler costs me $60 (with insurance). Why is it that much more expensive here?

In UK government has almost a monopoly for buying drugs, so they have a leverage in negotiation and there is a lower overhead with paper work.

Americans subsidize drugs for the rest of the world.

Re: Trump Sends Pharma Stocks Down with New Tweet on Drug Prices

#23

Post by jostmey » Tue, Mar 07, 2017, 5:11 PM UTC

kar1181 wrote: post #12

Having lived in both the UK and US I find the cost of medicines very hard to understand here. For example in the UK I can buy a ventolin inhaler for £10 over the counter (if I went to the Doctor it would be free). But in the US, an inhaler costs me $60 (with insurance). Why is it that much more expensive here?

The US pays an unfair burden to cover the cost of developing new drugs. That said, many drug companies seem more concerned with selling drugs that are barely better than a placebo and have cut back on research efforts.

Re: Trump Sends Pharma Stocks Down with New Tweet on Drug Prices

#24

Post by StClaire » Tue, Mar 07, 2017, 5:12 PM UTC

skybrian wrote: post #10

StClaire wrote: post #7

It costs a quarter to manufacture each pill but the manufacturers charge several dollars for that pill. But they don't just price gouge. Drug companies need to file patents on their drug almost as soon as they sketch they come up with drug. From there they need at least 8 years to get through the FDAs approval process, so the manufacturers don't get nearly as much exclusive time with their IP as other industries. (Th…

Seems like your proposal would reduce the incentive to get drugs to market quickly?

The regulatory process overwhelms those incentives anyway. If you can cut down on the 8 to 10 years to market you might see more drug companies pop up chasing a long shot

Re: Trump Sends Pharma Stocks Down with New Tweet on Drug Prices

#25

Post by [deleted] » Tue, Mar 07, 2017, 5:15 PM UTC

StClaire wrote: post #7

It costs a quarter to manufacture each pill but the manufacturers charge several dollars for that pill. But they don't just price gouge. Drug companies need to file patents on their drug almost as soon as they sketch they come up with drug. From there they need at least 8 years to get through the FDAs approval process, so the manufacturers don't get nearly as much exclusive time with their IP as other industries. (Th…

[deleted]

Re: Trump Sends Pharma Stocks Down with New Tweet on Drug Prices

#26

Post by judah » Tue, Mar 07, 2017, 5:17 PM UTC

asdfologist wrote: post #3

overcast wrote: post #2

Awesome. Have to give at least one thing to Trump. He's addressing exactly what he said in his campaign.

All he's done so far is send down pharma stock prices.

In case one is blinded by partisan bias, remember than Hillary Clinton made a similar statement[0] against the pharmaceutical industry during her campaign, and likewise sent stocks temporarily falling.

[0]: https://www.thestreet.com/story/13684503/1/hillary-blasts-dr...

Re: Trump Sends Pharma Stocks Down with New Tweet on Drug Prices

#27

Post by microcolonel » Tue, Mar 07, 2017, 5:19 PM UTC

deepnotderp wrote: post #15

StClaire wrote: post #7

It costs a quarter to manufacture each pill but the manufacturers charge several dollars for that pill. But they don't just price gouge. Drug companies need to file patents on their drug almost as soon as they sketch they come up with drug. From there they need at least 8 years to get through the FDAs approval process, so the manufacturers don't get nearly as much exclusive time with their IP as other industries. (Th…

This is great, we're trying everything except what the real problem is! Look at the Martin shkreli situation, there was another one like that before too. How did patents play a role there? High profit margins are not a bad thing, as long as people can still afford them. What we need is the proper type of regulations, I agree we need to streamline the fda process, but that alone is not going to solve things. There are…

I've not seen a case that what Shkreli did reduced the availability of his niche drug to patients.

Re: Trump Sends Pharma Stocks Down with New Tweet on Drug Prices

#28

Post by frgtpsswrdlame » Tue, Mar 07, 2017, 5:19 PM UTC

StClaire wrote: post #17

deepnotderp wrote: post #15

Earlier quoted context omitted.

This is great, we're trying everything except what the real problem is! Look at the Martin shkreli situation, there was another one like that before too. How did patents play a role there? High profit margins are not a bad thing, as long as people can still afford them. What we need is the proper type of regulations, I agree we need to streamline the fda process, but that alone is not going to solve things. There are…

I'm not saying we can fix all the problems with drug prices by fixing the patent system. Shitheads (am I allowed to say that?) like Shkreli will always do shitty things. But those cases don't drive most drug prices

>Shitheads (am I allowed to say that?) like Shkreli will always do shitty things. But those cases don't drive most drug prices

Are you sure about that? Shkreli himself disagrees with you, see his website:

http://www.pharmaskeletons.com/

Re: Trump Sends Pharma Stocks Down with New Tweet on Drug Prices

#29

Post by coldcode » Tue, Mar 07, 2017, 5:19 PM UTC

curiousgal wrote: post #18

Step 1: Ask friend to short a bunch of stocks Step 2: Tweet up a storm Step 3: Profit

This is what scares me the most. Anyone of his family or friends could do the shorting. No one will ever catch them as the President will ensure the SEC is kept in the dark or suppressed. He might not even know they are doing it. Imagine knowing we are about to drop a nuke somewhere (like NK), you could make a fortune.

Re: Trump Sends Pharma Stocks Down with New Tweet on Drug Prices

#30

Post by [deleted] » Tue, Mar 07, 2017, 5:20 PM UTC

koolba wrote: post #19

dethswatch wrote: post #14

Earlier quoted context omitted.

>It costs a quarter to manufacture each pill but the >manufacturers charge several dollars for that pill. What are the manufacturing costs for software?

Shhh! Our whole racket is based on pricing our services on value while pricing our cost of goods on production inputs. It's not "fair" to let other industries do that right?

[deleted]