Why not just do what the Greeks did? Pay for all the drugs with government bonds that are worth nothing. That'll work just as well.
Indian Government uses special powers to slash cancer drug price by 97%
11–20 of 227 posts
Re: Indian Government uses special powers to slash cancer drug price by 97%
#12I think few people would argue that drug companies' prices are reasonable, and when it comes to life vs. death I no longer care much about the "they're a business, they're allowed to make a profit" line - of course it's still true, and of course they are, but there's a (subjective) line between "making a good profit" and killing people through greed. That said, what pricing would be fair? When people claim that these…
Truth is, clinical trials are mind-bogglingly expensive and takes years for turnover. Also some newer drugs (I'm not sure about Nexavar) are rightfully expensive to manufacture due to requirements in equipment, sterile conditions, etc. If I were to say anything negative about this it would be that this sets a bad precedent for any new drugs coming to India -- knowing that the government can effectively void out drug…
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Re: Indian Government uses special powers to slash cancer drug price by 97%
#13It would be interesting to see how much money was lost or gained by Bayer based on this. I assume that usage might go up by at least a factor 20 in India (and their production costs go down) so those 6% might actually be a fair deal in the long run.
remember that Bayer won't have to manufactor it, someone else does. They get a cut (6%) without having to do any work
Re: Indian Government uses special powers to slash cancer drug price by 97%
#14Government was forced to make such decision because Bayer sold these drugs at a price unaffordable to most Indians. This to me seems like a very stupid decision from Bayer's management. The shareholders must act against the board now.
however because of such decisions companies will find it risky to invest in life saving drug research. I think government should also take some steps to win their confidence.
Re: Indian Government uses special powers to slash cancer drug price by 97%
#15Bayer said it was "disappointed" and would "evaluate options to defend intellectual property rights" in the country.
Down-vote me if you like, but I get sick to my stomach when I read sentences like this. If someone is able to deliver and sell the anti-cancer drug by 97% cheaper than you, then in my eyes you have no right to interfere. I am starting to dislike the whole concept of intellectual property and patents and copyright. These are tools of greedy people and bring nothing to the table for the wider audience. No one creates anything just by himself. You are always building on the work of others and merely deriving, combining, changing and mutating it. Whether you do it consciously or unconsciously. It is the principle of cultural evolution and it is why we are where we are. If intellectual property was always practiced the way it is today, I fear we would still be in the Middle Ages.
Re: Indian Government uses special powers to slash cancer drug price by 97%
#16It would be interesting to see how much money was lost or gained by Bayer based on this. I assume that usage might go up by at least a factor 20 in India (and their production costs go down) so those 6% might actually be a fair deal in the long run.
Fewer than 200 Indians used the drug in 2011; impact on sales should be minimal [1]. Bayer's concern is probably the export of these generics (illegally) to other places where it sources more sales from.
[1] http://www.nytimes.com/2012/03/13/business/global/india-over...
Re: Indian Government uses special powers to slash cancer drug price by 97%
#17I think few people would argue that drug companies' prices are reasonable, and when it comes to life vs. death I no longer care much about the "they're a business, they're allowed to make a profit" line - of course it's still true, and of course they are, but there's a (subjective) line between "making a good profit" and killing people through greed. That said, what pricing would be fair? When people claim that these…
Truth is, clinical trials are mind-bogglingly expensive and takes years for turnover. Also some newer drugs (I'm not sure about Nexavar) are rightfully expensive to manufacture due to requirements in equipment, sterile conditions, etc. If I were to say anything negative about this it would be that this sets a bad precedent for any new drugs coming to India -- knowing that the government can effectively void out drug…
On principle, you are right. However, Rs 2.8 lakh for 1 month of pills is inordinately expensive. It's something that no one but aristocrats will be able to afford. By the standards of the Indian society, I fall in the upper middle class category, and that amount is almost half of my annual salary (more than half after tax deductions). To get an idea about how expensive it is, just think whether you could afford to buy a new car (even a cheap one) every month. Another point worth noting is that most Indians don't have medical insurance, since typical healthcare is quite cheap in India.
Under the new forced licensing terms, Bayer will still be making money. In fact, it might end up making pretty much the same as before, since volume will increase dramatically thanks to the 97% price cut.
Re: Indian Government uses special powers to slash cancer drug price by 97%
#18Bayer said it was "disappointed" and would "evaluate options to defend intellectual property rights" in the country. Down-vote me if you like, but I get sick to my stomach when I read sentences like this. If someone is able to deliver and sell the anti-cancer drug by 97% cheaper than you, then in my eyes you have no right to interfere. I am starting to dislike the whole concept of intellectual property and patents an…
If someone is able to deliver and sell the anti-cancer drug by 97% cheaper than you, then in my eyes you have no right to interfere
... Provided that that "someone" also bears their fair share of the cost of discovery and clinical trials. THAT is the issue here.
Re: Indian Government uses special powers to slash cancer drug price by 97%
#19Bayer said it was "disappointed" and would "evaluate options to defend intellectual property rights" in the country. Down-vote me if you like, but I get sick to my stomach when I read sentences like this. If someone is able to deliver and sell the anti-cancer drug by 97% cheaper than you, then in my eyes you have no right to interfere. I am starting to dislike the whole concept of intellectual property and patents an…
If someone is able to deliver and sell the anti-cancer drug by 97% cheaper than you, then in my eyes you have no right to interfere ... Provided that that "someone" also bears their fair share of the cost of discovery and clinical trials. THAT is the issue here.
also don't forget that for these companies the poor people in India are the subjects of clinial trials.
The mindset of these companies of treating the poor people as Guinea pigs is also disgusting
671 reported deaths http://www.business-standard.com/india/news/human-rights-pan...
There is no count of no of people who get disabilities but don't die due to trials failing. Who will pay for these? These pharma companies are steered by greed
Re: Indian Government uses special powers to slash cancer drug price by 97%
#20I think few people would argue that drug companies' prices are reasonable, and when it comes to life vs. death I no longer care much about the "they're a business, they're allowed to make a profit" line - of course it's still true, and of course they are, but there's a (subjective) line between "making a good profit" and killing people through greed. That said, what pricing would be fair? When people claim that these…
Perhaps the FDA should bankroll clinical trials, subject to a pre-agreed price and a reasonable case that the trial will work out. Monopoly sellers and monopoly buyers is fairer than a monopoly seller.