This pill used to cost me 10c/pill, now it's $5/pill. I take it 3x day. • Hacker News Board

Re: This pill used to cost me 10c/pill, now it's $5/pill. I take it 3x day.

#21

Post by wisty » Fri, Apr 01, 2011, 10:29 AM UTC

Ahmes wrote: post #15

The problem doesn't end there. Once these drugs' exclusive rights expire and "generic brand" prescriptions are allowed to compete, most insured patients will still prefer the "name brand" as they are only charged co-pay. Some insurance providers may place restrictions on which drugs are eligible for treatment but this is not the case with traditional U.S. sponsored Medicare/Medicaid (patients are free to choose betwe…

In Australia, most people have to pay for drugs. There are subsidies available. If a drug company wants the subsidy, it has to offer a fair price. If they don't offer a fair price, then they don't get subsidized, and nobody buys it.

So, patients pay (a bit), so they avoid unnecessary treatment. But they don't have to pay to much. And if the drug companies try to play funny-buggers, they get shut out.

Also, the subsidy process is completely hands-off (it's run by an untouchable board of experts), so while it's a little inefficient (untouchable experts are always inefficient) it's incorruptible.

Re: This pill used to cost me 10c/pill, now it's $5/pill. I take it 3x day.

#22

Post by meric » Fri, Apr 01, 2011, 10:31 AM UTC

Just had an epiphany. If it is these old drugs (since 6th century) that are getting monopolized.... It means they don't really need advanced technology to create! Just grind some herbs, measure carefully, sun dry, etc. If they're over-charging by 5000% you might actually save money producing the drugs yourself for self consumption!

Who's up for creating a website to share recipes of these drugs?

Re: This pill used to cost me 10c/pill, now it's $5/pill. I take it 3x day.

#23

Post by olalonde » Fri, Apr 01, 2011, 10:41 AM UTC

> One can't fault the FDA for the price increases for Makeda and Colcrys; the agency is doing what it's supposed to do, clearing out old drugs and improving the standards of the national Pharmacopoeia. (Disclosure: I worked as a speechwriter for FDA in early 2010 but had no involvement in the colchicine or 17OHP issues.)

I think anyone will agree that FDA's intentions are good. But sadly, what really matters are consequences, not intentions.

> In 2009, after winning FDA approval, URL Pharma won exclusive rights

Exclusive rights granted by who? Why blame pharmaceuticals for following the incentives they are provided with?

The truth is that FDA and other industry regulations increase costs in addition to destroying competition and innovation in the pharmaceutical industry.

Milton Friedman says it better than I can here: http://www.youtube.com/watch?v=dZL25NSLhEA

Re: This pill used to cost me 10c/pill, now it's $5/pill. I take it 3x day.

#24

Post by lwhi » Fri, Apr 01, 2011, 10:50 AM UTC

Surely the problem is the insurance industry? If the insurance industry wasn't able to foot the bill, no one would buy the product and market forces would be able to set a reasonable (affordable) price.

As a non-US citizen (I'm from the UK) I can't believe that such an obscene set of symbiotic relationships have been able to be formed between the medical establishment, medical insurance industry and pharmaceutics.

There are some things that benefit all - and some issues that every human holds close to their heart. Medicine and the ability to recover from ill health is too important to let companies hold individuals to ransom.

I'm shocked the situation was ever allowed to get this bad.

Re: This pill used to cost me 10c/pill, now it's $5/pill. I take it 3x day.

#25

Post by dexen » Fri, Apr 01, 2011, 10:58 AM UTC

meric wrote: post #22

Just had an epiphany. If it is these old drugs (since 6th century) that are getting monopolized.... It means they don't really need advanced technology to create! Just grind some herbs, measure carefully, sun dry, etc. If they're over-charging by 5000% you might actually save money producing the drugs yourself for self consumption! Who's up for creating a website to share recipes of these drugs?

> Who's up for creating a website to share recipes of these drugs?

No, seriously, somebody please figure a pharmaceutics delivery business model that does not depend on FDA for legality & operations.

Re: This pill used to cost me 10c/pill, now it's $5/pill. I take it 3x day.

#26

Post by _wp3r » Fri, Apr 01, 2011, 10:59 AM UTC

I would agree with some of the other comments. The burden of testing this historical drugs should not be placed in the industries hands. The FDA should run the testing, either with its own money in the common interest or allow the collection of manufacturers of a certain drug class to divide the total bill. The practice of back dated invention seems archaic.

Re: This pill used to cost me 10c/pill, now it's $5/pill. I take it 3x day.

#27

Post by jpspeno » Fri, Apr 01, 2011, 11:11 AM UTC

Gout may be another disease of civilization which might be preventable with diet. Gary Taubes had a chapter about this that he didn't have room for in his book, Good Calories, Bad Calories, but you can read it online: http://www.fourhourworkweek.com/blog/2009/10/05/gout/

Re: This pill used to cost me 10c/pill, now it's $5/pill. I take it 3x day.

#28

Post by qwer99 » Fri, Apr 01, 2011, 11:25 AM UTC

ck2 wrote: post #3

Based on previous "investigations", basically nothing will happen to the company and things will continue as usual. The $5-per-pill price URL Pharma set for Colcrys surprised the FDA Find the people that were surprised and terminate them immediately. The "FDA" wasn't surprised, it was a few idiots left in charge. What if they just do a compromise of $2.50 a pill, is that really going to help anyone when it was 10 cen…

This is just unbelievably incorrect, absurd, and just shows complete ignorance of the healthcare industry. Profits for healthcare companies are the same as those in any other industry. A quick check on Yahoo Finance will let you compare their respective financial statements. The culprit is in the endless rules and regulations that drive up costs to make the pills, preventing competitors from coming in to drive down the costs.

Re: This pill used to cost me 10c/pill, now it's $5/pill. I take it 3x day.

#29

Post by iwwr » Fri, Apr 01, 2011, 11:26 AM UTC

roel_v wrote: post #18

iwwr wrote: post #16

Earlier quoted context omitted.

Perversely, these monopolies are often granted on the basis of 'natural monopoly theory'. If it's a natural monopoly, why does it need to be further enforced (preserved?) by a law?

Eh, what? What monopolies are granted by law on the basis of natural monopoly theory? As you state, there is no reason to put them into law; natural monopolies are usually the ones who are broken up by regulators, to enforce competition (e.g. telecoms, energy manufacturing/distribution, public transport, ...)

These same monopolies you're mentioning (were|are) in fact legally protected from competition.

Re: This pill used to cost me 10c/pill, now it's $5/pill. I take it 3x day.

#30

Post by [deleted] » Fri, Apr 01, 2011, 11:33 AM UTC

dexen wrote: post #25

meric wrote: post #22

Just had an epiphany. If it is these old drugs (since 6th century) that are getting monopolized.... It means they don't really need advanced technology to create! Just grind some herbs, measure carefully, sun dry, etc. If they're over-charging by 5000% you might actually save money producing the drugs yourself for self consumption! Who's up for creating a website to share recipes of these drugs?

> Who's up for creating a website to share recipes of these drugs? No, seriously, somebody please figure a pharmaceutics delivery business model that does not depend on FDA for legality & operations.

[deleted]