Earlier quoted context omitted.
That point is a bit different than comparing to Apple and Google.
I didn’t raise it.
> If the EU can fine Apple and Google, the US should be able to fine Novo.
So what did you mean by that?
Novo Nordisk facing pressure as study finds $1k drug can be made for $5
141–150 of 218 posts
Re: Novo Nordisk facing pressure as study finds $1k drug can be made for $5
#142Wait until everyone realizes the drug does more harm than good.
Re: Novo Nordisk facing pressure as study finds $1k drug can be made for $5
#143Earlier quoted context omitted.
That's against US law. The US has innovated the laws that make NN profits possible and helped other countries to adopt them. EU created anti trust laws that makes fining Apple and Google possible.
Citations for all of this please.
US laws prioritize corporations over people.
EU laws prioritize people over corporations.
So EU corps selling in the US can bleed their customers dry, just like the local US corps.
And US corps operating in the EU are restricted in the people's interest, just like the local EU corps.
This is the just application of the respective laws as they stand.
This is the outcome the respective populations voted for.
Although the rest of the world does wonder what the US voters were thinking ...
Re: Novo Nordisk facing pressure as study finds $1k drug can be made for $5
#144Producing it is not the hard part. Researching it is... And you are not paid for your research "up front". It's added to the cost afterwards.
Marketing spend dwarfs (dwarves?) R&D costs by multiple factors.
Re: Novo Nordisk facing pressure as study finds $1k drug can be made for $5
#145Earlier quoted context omitted.
you also need to cover the cost of the 100 drugs that failed at various stages of the pipeline. Not saying that it's not a screwed up industry, but stories like these distort the problem as well
Are the people running drug companies barely scraping by?
Not nearly as much as they claim they are. The system is basically rigged in their favor. Just compare the financial statements of companies like Ford and Boeing to Eli Lilly and Novo Nordisk. Pharma does very good business.
Re: Novo Nordisk facing pressure as study finds $1k drug can be made for $5
#146Earlier quoted context omitted.
So why is older insulin more expensive in the US than elsewhere, by a large margin? https://www.visualcapitalist.com/cost-of-insulin-by-country/ https://www.rand.org/pubs/research_reports/RRA788-2.html https://worldpopulationreview.com/country-rankings/cost-of-i...
Only the last one makes the distinction between modern synthetics and basic insulin. Frankly the US pays for the cost of the research while the rest of the world just pays for the cost of production. If you want to fix the cost of insulin products (and many other drugs) in the US you need to figure out how to make everybody else pay for the true costs. Edit: also your last source there doesn't even know what it's tal…
> Frankly the US pays for the cost of the research while the rest of the world just pays for the cost of production.
Top 10 pharma companies, 5/10 are US (2 UK, 2 Swiss, 1 French).
4 of the top 6 for profit margins (from 43%(!) to 19%) are US (Merck is the only outlier, 9th, at 10%).
4 of the top 5 for Sales and Marketing Spend (both on raw dollars and as a percentage of revenue) are US.
3 of the bottom 5 for R&D spend (as a percentage of revenue) are US.
Re: Novo Nordisk facing pressure as study finds $1k drug can be made for $5
#147Earlier quoted context omitted.
I'm not Pharma industry expert but ... I'm pretty sure it's much the same as venture capital. That is to say that's it's not that expensive to R&D it, certainly compared to the eventual sale price, but it's carrying the cost of the hundred potential drugs that never made it to market that's the killer.
No it’s also ludicrously expensive to R&D a drug, even if you just count the costs of the successful program. You’d be looking at easily $50-$150MM just in clinical trial costs, not to mention the years or decades of preclinical work. Factor in the failed programs and you’re looking at about $2B of spend in order to bring a drug to market.
Of the top 10 pharma companies, 5 are American, and three of them rank 8th, 9th and 10th for R&D investment.
So the whole "American big pharma needs to make a billion dollars a week in profit to recoup their R&D" is nothing but marketing fluff.
Re: Novo Nordisk facing pressure as study finds $1k drug can be made for $5
#148Ozempic is blowing up on TikTok. Celebs and young people are using it left and right. This is wildly popular and there are resellers and apps popping up everywhere to make it easy to get prescriptions. "Ozempic face" has become a meme as people try to guess who is using it. Several of my neighbors are admittedly using it. And they've lost 30, 40+ pounds in a matter of months. Months . This is a diabetes drug. There h…
GLP-1 medications have been hypothesized to possibly result in the loss of muscle mass and bone density. There will probably be better data in a few years.
Re: Novo Nordisk facing pressure as study finds $1k drug can be made for $5
#149Producing it is not the hard part. Researching it is... And you are not paid for your research "up front". It's added to the cost afterwards.
Pharma stocks actually underperform compare to other companies. So, it's not like pharma companies are making insane profits. Research, regulation, approvals and failures are expensive
> So, it's not like pharma companies are making insane profits.
Huh.
> Gilead Sciences gross profit for the twelve months ending December 31, 2023 was $20.618B
Not insane profits, indeed.
Re: Novo Nordisk facing pressure as study finds $1k drug can be made for $5
#150Producing it is not the hard part. Researching it is... And you are not paid for your research "up front". It's added to the cost afterwards.
There is an awful lot of sympathy for the drug company in this thread. You are correct, research and approval is expensive. But at some point there is a limit. Things like insulin are long paid off, and the pricing there has generated controversy. People have been charged $1000 a month for it [1]. What’s fair? They are screaming out to be regulated when they behave so badly, and that’s what’s happened with insulin. […
You can have selective outrage. Insulin is clearly overpriced. Semaglutide, maybe not as much.