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Drugmakers raise US prices on 350 medicines despite pressure

reuters.com

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Re: Drugmakers raise US prices on 350 medicines despite pressure

#61

Post by general1465 »

begueradj wrote: post #32

> Drugmakers plan to raise U.S. prices on at least 350 branded medications including vaccines against COVID, RSV and shingles and blockbuster cancer treatment Ibrance, even as the Trump administration pressures them for cuts Few days ago, Donald Trump pressured Emmanuel Macron to raise the prices of all medicines. The pressure was made with unspoken threats according to several mainstream French media such as this on…

That's like pressuring a politician to commit seppuku. French would be rioting in the streets if he would even try that.

Furthermore how Macron can increase prices of drugs? I was thinking that Americans are all about free market.

Re: Drugmakers raise US prices on 350 medicines despite pressure

#62

Post by lenkite »

lotsofpulp wrote: post #51
lenkite wrote: post #49

Earlier quoted context omitted.

> it has a problem of supply being nowhere near demand, Get rid of the patents and this will solve itself in no time. > The insurance company has no hand in this. False. Insurance companies in the US own stock in big pharma firms like Pfizer, Johnson & Johnson, Eli Lilly, etc. They maintain substantial investment portfolios and generate returns on premiums and reserves. They also have voting rights as institutional i…

Yes, no one is stopping US (or other countries’) taxpayers from paying for all the drug trials so that the resulting medicines are in the public domain. > False. Insurance companies in the US own stock in big pharma firms like Pfizer, Johnson & Johnson, Eli Lilly, etc. They maintain substantial investment portfolios and generate returns on premiums and reserves. They also have voting rights as institutional investors…

The U.S taxpayer already pays for this. ~40% of FDA-approved drugs have direct NIH funding behind them. Nearly all modern drugs rely on NIH-funded foundational science. Taxpayer money additionally also floats through BARDA, DOD and DARPA.

COVID mRNA vaccines (Pfizer-BioNTech, Moderna) got billions in public funding. Yet, patents usually belong to the private company and prices are not capped as a condition of public funding. It is gross corruption begging for heads to be put on pikes.

Re: Drugmakers raise US prices on 350 medicines despite pressure

#63

Post by [deleted] »

KumaBear wrote: post #6
mistrial9 wrote: post #5

Earlier quoted context omitted.

big Pharma has properties unlike many other business. The R&D is very, very expensive and, income is not directly related to expenses each year. The natural "moat" is such that only a relatively few, giant and wealthy, companies exist over time. ref- The Billion Dollar Molecule

Why does the US consumer of said medications subsidize many other countries who have access to the same medications for a fraction of the US sticker price?

[deleted]

Re: Drugmakers raise US prices on 350 medicines despite pressure

#65

Post by vkou »

general1465 wrote: post #61
begueradj wrote: post #32

> Drugmakers plan to raise U.S. prices on at least 350 branded medications including vaccines against COVID, RSV and shingles and blockbuster cancer treatment Ibrance, even as the Trump administration pressures them for cuts Few days ago, Donald Trump pressured Emmanuel Macron to raise the prices of all medicines. The pressure was made with unspoken threats according to several mainstream French media such as this on…

That's like pressuring a politician to commit seppuku. French would be rioting in the streets if he would even try that. Furthermore how Macron can increase prices of drugs? I was thinking that Americans are all about free market.

It's possible that Americans are all about free markets (I have severe doubts on this point, but let's accept it), but Trump and his MAGAts are far more concerned about fucking with people weaker than them.

If given two options, they will take the one that will hurt more people, every day of the week.

Re: Drugmakers raise US prices on 350 medicines despite pressure

#66

Post by infermore »

weslleyskah wrote: post #36
vjvjvjvjghv wrote: post #4

"Rome said the companies seem to be maximizing prices while negotiating discounts behind the scenes with health and drug insurers and then setting yet another price for direct-to-consumer cash-pay sales." This describes the biggest problem in US healthcare. No clear and consistent pricing. If we had a real market, you would get a prescription and then go to the seller with the lowest price. And everybody would get th…

Here in Brazil, we have something called 'Genéricos.' These are essentially the same medications as the brand-name versions, produced with the same chemical ingredients, but they often cost half the price, sometimes even cheaper than that. Insanely comical.

in the US, we call these 'generics'

Re: Drugmakers raise US prices on 350 medicines despite pressure

#67

Post by lotsofpulp »

lenkite wrote: post #62
lotsofpulp wrote: post #51

Earlier quoted context omitted.

Yes, no one is stopping US (or other countries’) taxpayers from paying for all the drug trials so that the resulting medicines are in the public domain. > False. Insurance companies in the US own stock in big pharma firms like Pfizer, Johnson & Johnson, Eli Lilly, etc. They maintain substantial investment portfolios and generate returns on premiums and reserves. They also have voting rights as institutional investors…

The U.S taxpayer already pays for this. ~40% of FDA-approved drugs have direct NIH funding behind them. Nearly all modern drugs rely on NIH-funded foundational science. Taxpayer money additionally also floats through BARDA, DOD and DARPA. COVID mRNA vaccines (Pfizer-BioNTech, Moderna) got billions in public funding. Yet, patents usually belong to the private company and prices are not capped as a condition of public…

Correct, people should be asking their federal politician why the US federal government is not spending the few billion dollars on drug trials to avoid having to pay extra to pharmaceutical companies.

But instead, people rail at health insurance companies and pharmaceutical companies and others who can’t or won’t make a difference.

Re: Drugmakers raise US prices on 350 medicines despite pressure

#68

Post by vkou »

KumaBear wrote: post #6
mistrial9 wrote: post #5

Earlier quoted context omitted.

big Pharma has properties unlike many other business. The R&D is very, very expensive and, income is not directly related to expenses each year. The natural "moat" is such that only a relatively few, giant and wealthy, companies exist over time. ref- The Billion Dollar Molecule

Why does the US consumer of said medications subsidize many other countries who have access to the same medications for a fraction of the US sticker price?

Nobody's forcing US pharama companies to sell to those countries at those prices, they choose to, because it makes them more money.

Foreigners aren't the reason American healthcare sucks. Stop looking for people to blame abroad, all the sources of your problems are in the presidency, congress, and in the boardroom that directs the former.

Re: Drugmakers raise US prices on 350 medicines despite pressure

#69

Post by mothballed »

olyjohn wrote: post #55
Workaccount2 wrote: post #19

Earlier quoted context omitted.

Last year I needed to get blood work done, some of which may or may not be covered. It took me two weeks, dozens of phone calls, and multiple "escalations" to learn what would be covered and what the price would be if it wasn't Totally insane. The kicker is that after all that, the price I was billed wasn't even the price I was given (thankfully it was less though).

I just had some bloodwork done, myself. My provider accidentally billed insurance, which had lapsed due to being laid off. I got my "Explanation of benefits" and it was $1000 billed to them, but I was given a $500 "discount." So I only owed $500... Cash cost was $50. Makes no goddamn sense. Also I went in for a colonoscopy and an endoscopy. Insurance was billed for $14000. I got statements from 4 different doctors, a…

I don't think the hospital expects to actually ever get paid what they bill out, or anything at all, if it's not paid onsite or by insurance.

Re: Drugmakers raise US prices on 350 medicines despite pressure

#70

Post by hypeatei »

blackbear_ wrote: post #11
KumaBear wrote: post #6

Earlier quoted context omitted.

Why does the US consumer of said medications subsidize many other countries who have access to the same medications for a fraction of the US sticker price?

Because US voters prefer the free market as opposed to government regulation and nationalized healthcare.

I'm assuming you're European and just want to make an "America bad" post because this is comically ignorant. There wouldn't be mountains of federal code to adhere to if that was the case.

This is a trope among populists: pass legislation around , observe consequences of doing so, blame the "free market", repeat.

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