US drugmaker doubled price on potential coronavirus treatment
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Re: US drugmaker doubled price on potential coronavirus treatment
#2Non paywalled source
"A drug maker recently doubled the price of chloroquine — but in response to the coronavirus pandemic, it’s cutting it in half" https://www.statnews.com/2020/03/19/a-drug-maker-recently-do...
Re: US drugmaker doubled price on potential coronavirus treatment
#3Re: US drugmaker doubled price on potential coronavirus treatment
#4[deleted]
Re: US drugmaker doubled price on potential coronavirus treatment
#5Non paywalled source "A drug maker recently doubled the price of chloroquine — but in response to the coronavirus pandemic, it’s cutting it in half" https://www.statnews.com/2020/03/19/a-drug-maker-recently-do...
In other words, the price was reset back to its original after the Covid outbreak was a known problem. This articles title is extremely misleading in that case
Re: US drugmaker doubled price on potential coronavirus treatment
#6Non paywalled source "A drug maker recently doubled the price of chloroquine — but in response to the coronavirus pandemic, it’s cutting it in half" https://www.statnews.com/2020/03/19/a-drug-maker-recently-do...
In other words, the price was reset back to its original after the Covid outbreak was a known problem. This articles title is extremely misleading in that case
Yes, and more to the point, the doubling of the price appears to be before it was known (to the manufacturer) it was a potential treatment for COVID-19.
Re: US drugmaker doubled price on potential coronavirus treatment
#7In these circumstances, the only reasonable procedure for a government to take is to warn pharmaceutical manufacturers that "if you do that then we'll instantly nationalize you without compensation."
Moreover, this ought to be enshrined in law.
Re: US drugmaker doubled price on potential coronavirus treatment
#8In these circumstances, the only reasonable procedure for a government to take is to warn pharmaceutical manufacturers that "if you do that then we'll instantly nationalize you without compensation." Moreover, this ought to be enshrined in law.
What should be done is hard to say b/c of R&D angles about producing a more effective treatment. If the money is being put to R&D or even just enabling the company to scale manufacturing, I'm pretty okay with that.
Better than nationalization I think would be restrictions on executive compensation and dividends. Take away any personal upside from the decision-makers.
Re: US drugmaker doubled price on potential coronavirus treatment
#9In these circumstances, the only reasonable procedure for a government to take is to warn pharmaceutical manufacturers that "if you do that then we'll instantly nationalize you without compensation." Moreover, this ought to be enshrined in law.
What should be done is hard to say b/c of R&D angles about producing a more effective treatment. If the money is being put to R&D or even just enabling the company to scale manufacturing, I'm pretty okay with that. Better than nationalization I think would be restrictions on executive compensation and dividends. Take away any personal upside from the decision-makers.
> If the money is being put to R&D or even just enabling the company to scale manufacturing, I'm pretty okay with that.
That makes sense. On the other hand, the government has deep pockets. They could buy the company, fund the R&D, and still keep the prices accessible.
In pandemics, this is what we want and need.
I’m also alive to all the ways in which these powers could lead to corruption and overreach in ordinary times. I oppose the Patriot Act and abhor the wars and states-of-emergency without-end. But I’m given to believe we are not in ordinary times.
Re: US drugmaker doubled price on potential coronavirus treatment
#10Earlier quoted context omitted.
What should be done is hard to say b/c of R&D angles about producing a more effective treatment. If the money is being put to R&D or even just enabling the company to scale manufacturing, I'm pretty okay with that. Better than nationalization I think would be restrictions on executive compensation and dividends. Take away any personal upside from the decision-makers.
> If the money is being put to R&D or even just enabling the company to scale manufacturing, I'm pretty okay with that. That makes sense. On the other hand, the government has deep pockets. They could buy the company, fund the R&D, and still keep the prices accessible. In pandemics, this is what we want and need. I’m also alive to all the ways in which these powers could lead to corruption and overreach in ordinary t…
It's tough to know where to draw the line. There are roundabout ways like loans, grants, tax breaks and a variety of other tools the government has without nationalization.
Buying the company seems a little too much to me but it is an emergency. I don't know enough about the details to know the right decision.