Goldman Sachs questions whether curing patients is a sustainable business model • Hacker News Board

Re: Goldman Sachs questions whether curing patients is a sustainable business model

#11

Post by wiz21c » Fri, Apr 13, 2018, 8:13 AM UTC

emiliobumachar wrote: post #6

_lbaq wrote: post #2

Thats why "we the people" need to have large part in developing new drugs and the care of people, this is nothing that can be left to the "market" in some hope that it will "work out".

Good idea, but it takes a lot of cash.

Once it is in the public hands, it allows for democratic prioritization of the cash (do we need more solar energy or more cures ?).

Re: Goldman Sachs questions whether curing patients is a sustainable business model

#12

Post by qwbsdfg » Fri, Apr 13, 2018, 8:14 AM UTC

emiliobumachar wrote: post #6

_lbaq wrote: post #2

Thats why "we the people" need to have large part in developing new drugs and the care of people, this is nothing that can be left to the "market" in some hope that it will "work out".

Good idea, but it takes a lot of cash.

Although it might take less cash if only the people actually doing the research needed to get paid. If the patent lawyers, the investment bank analysts writing these reports, and the likes of Martin Shkreli also need to eat everyday that could potentially be inflating the cost.

Re: Goldman Sachs questions whether curing patients is a sustainable business model

#13

Post by oceanman888 » Fri, Apr 13, 2018, 8:17 AM UTC

andybak wrote: post #9

watwut wrote: post #7

Earlier quoted context omitted.

That assumes monopoly. Competition should solve that.

Remembering basic human moral values might help as well.

Which is usually destroyed by competition.

Re: Goldman Sachs questions whether curing patients is a sustainable business model

#14

Post by beefield » Fri, Apr 13, 2018, 8:20 AM UTC

watwut wrote: post #7

emiliobumachar wrote: post #5

This is one of the downsides of mobbing, shaming and regulating away outrageous prices. If pharma companies can't charge you in the ballpark of a lifetime's earnings for a one-shot, one-shots will be less compelling to them compared with treatments you have to take twice a day for the rest of your life.

That assumes monopoly. Competition should solve that.

Well, somehow getting rid of the monopolies (patents) faces significant resistance.

Re: Goldman Sachs questions whether curing patients is a sustainable business model

#15

Post by pintxo » Fri, Apr 13, 2018, 8:20 AM UTC

dschuetz wrote: post #4

A healthy person is bad for pharmaceutical business and doctors, yet very good for health and life insurances.

Not sure about that. Insurances require a certain level of "damage" probability, else no one would get insurance in the first place. If you could cure any illness with a $5 pill, I'd guess no one would get health insurance.

This is somewhat different for life insurances, as you could still be run over by a (self-driving) car and die.

Re: Goldman Sachs questions whether curing patients is a sustainable business model

#16

Post by worldsayshi » Fri, Apr 13, 2018, 8:20 AM UTC

emiliobumachar wrote: post #5

This is one of the downsides of mobbing, shaming and regulating away outrageous prices. If pharma companies can't charge you in the ballpark of a lifetime's earnings for a one-shot, one-shots will be less compelling to them compared with treatments you have to take twice a day for the rest of your life.

Perhaps it could be regulated so that for these kind of things the price have to be proportional to the income level of the patient?

Re: Goldman Sachs questions whether curing patients is a sustainable business model

#17

Post by hollander » Fri, Apr 13, 2018, 8:24 AM UTC

emiliobumachar wrote: post #6

_lbaq wrote: post #2

Thats why "we the people" need to have large part in developing new drugs and the care of people, this is nothing that can be left to the "market" in some hope that it will "work out".

Good idea, but it takes a lot of cash.

And that's why God invented taxes. But then the US invented their own gods, who don't have to pay tax.

Re: Goldman Sachs questions whether curing patients is a sustainable business model

#18

Post by alimw » Fri, Apr 13, 2018, 8:27 AM UTC

emiliobumachar wrote: post #6

_lbaq wrote: post #2

Thats why "we the people" need to have large part in developing new drugs and the care of people, this is nothing that can be left to the "market" in some hope that it will "work out".

Good idea, but it takes a lot of cash.

In many countries including mine, it is the state that pays into drugs companies anyway.

Re: Goldman Sachs questions whether curing patients is a sustainable business model

#19

Post by Kalounji » Fri, Apr 13, 2018, 8:29 AM UTC

wiz21c wrote: post #11

emiliobumachar wrote: post #6

Earlier quoted context omitted.

Good idea, but it takes a lot of cash.

Once it is in the public hands, it allows for democratic prioritization of the cash (do we need more solar energy or more cures ?).

I like to think we need both

Re: Goldman Sachs questions whether curing patients is a sustainable business model

#20

Post by watwut » Fri, Apr 13, 2018, 8:31 AM UTC

andybak wrote: post #9

watwut wrote: post #7

Earlier quoted context omitted.

That assumes monopoly. Competition should solve that.

Remembering basic human moral values might help as well.

The trouble is that those who remember those basic values in more complex competitive environments tend to loose competition against those who dont. Not always, but often enough.