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Post by savzak on Sept 21, 2015 12:45:28 GMT -5
CNBC just attributed the quick drop in the biotechs we just saw to a tweet by Hillary Clinton complaining about Touring's price increase and stating she'll have a plan out tomorrow to deal with so called price gouging. Can you imagine the Government being able to negotiate with drug companies about pricing. And you say it's all Hillary Clinton's fault? What is this world coming too?
www.cnbc.com/2015/09/21/biotech-falls-on-clinton-price-gouging-comments.html
I didn't "say" anything...I just reported what CNBC had just aired. And they weren't "blaming" Clinton for anything. They just attributed today's short term downward spike in the biotechs to her tweet.
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Post by blindhog1 on Sept 21, 2015 12:53:12 GMT -5
I didn't "say" anything...I just reported what CNBC had just aired. And they weren't "blaming" Clinton for anything. They just attributed today's short term downward spike in the biotechs to her tweet. And aren't you the smart one. A little testy this morning, are we? I just attached the CNBC piece in case anyone is confused about what you said or what you meant.....and it gives the rest of the story.
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Post by savzak on Sept 21, 2015 13:15:37 GMT -5
I didn't "say" anything...I just reported what CNBC had just aired. And they weren't "blaming" Clinton for anything. They just attributed today's short term downward spike in the biotechs to her tweet. And aren't you the smart one. A little testy this morning, are we? I just attached the CNBC piece in case anyone is confused about what you said or what you meant.....and it gives the rest of the story. First question: Yes! Thanks for noticing. Second question: Not really.
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Post by liane on Sept 21, 2015 13:22:20 GMT -5
I'm really hoping I don't have to shut down this thread for politics...
Any way, it's one thing to spend a billion or two to develop a drug and charge high prices to recoup not only the cost of a fully approved drug but also development of all the ones that don't make it. That's the pharma business. What is absolutely appalling is for companies such as Shkreli's to buy up old drugs (for a song), fully developed and off patent, and increase the price astronomically. I'm not sure how he gets away with it as i would think any generic drug manufacturer could step in, make the same drug, and undercut the price.
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Post by savzak on Sept 21, 2015 13:25:28 GMT -5
I'm really hoping I don't have to shut down this thread for politics... I'm not sure how he gets away with it as i would think any generic drug manufacturer could step in, make the same drug, and undercut the price. That was my thought as well but I assume he has calculated that the combined factors of 1) very low demand for this particular drug and 2) the costs involved in gearing up to manufacture would act as an economic barrier to entry for any new generic manufacturer.
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Post by suebeeee1 on Sept 21, 2015 13:31:18 GMT -5
Sanofi is only giving a modest discount. Since our insurance doesn't cover it, we only get the discount, which still leaves us with nearly $400 a month in cost for this. Is it worth it? Of course, and we can't wait until it is covered by our insurance company. But, clearly, they aren't "giving it away". Until the insurance companies get on board, which will require either an upgrade in the labeling or a discount to the insurance companies, many of us will be stuck with the difficult decision of whether or not to pay for this drug ourselves. I believe suebeeee1 is correct. Per this post started by Rozale, the discount card that sanofi gives to make sure your copay does not exceed $30 is only good for the first $125. Well, I'm certainly glad our price isn't near the $715 she needed to pay for the prescription. If it was that high, I doubt we would still be using it. My husand doesn't need as much. Sanofi really needs to be working to get all the insurance companies on board. I figured they would drop their price as the first 6 months went by to attract the insurance companies, but that doesn't seen to be happening yet. We are hoping at the one year anniversary, many of the companies will approve.....I hope!
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Post by suebeeee1 on Sept 21, 2015 13:32:37 GMT -5
I don't get it overall. If it is a generic drug, why don't other companies just start producing it at a lower cost?
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Post by savzak on Sept 21, 2015 13:33:24 GMT -5
Shkrelli was just on CNBC for a live interview. I thought I posted a thread to alert the board but I don't see where it posted. Anyway, he reminds me of Barty Crouch Jr. from the Harry Potter movies; both in appearance and in character.
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Post by suebeeee1 on Sept 21, 2015 13:41:30 GMT -5
Interesting and amusing entry on Shkreli on Wikipedia: en.wikipedia.org/wiki/Martin_ShkreliMartin Shkreli From Wikipedia, the free encyclopedia Martin Shkreli (born April 1, 1983) is a Albanian American[1] hedge fund manager and entrepreneur, piece of human garbage, specializing in healthcare and is the founder of MSMB Capital Management, Retrophin, Inc. and Turing Pharmaceuticals AG. He is a big jerk. He was the Founder and Chief Executive Officer of Retrophin LLC, a biotechnology firm founded in 2011.[2][3] In September 2015, he came under fire for his tactics of obtaining patents to life saving medicines like Pyrimethamine, and increasing their prices in the US, sometimes by up to 5000%. Pyrimethamine is listed in World Health Organization's List of Essential Medicines, the most important medications needed in a basic health system which Martin Shkreli is accused of manipulating the price and effectively made out of reach of millions of needy patient all over the world. [4]
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Post by factspls88 on Sept 21, 2015 13:46:53 GMT -5
Shkrelli was just on CNBC for a live interview. I thought I posted a thread to alert the board but I don't see where it posted. Anyway, he reminds me of Barty Crouch Jr. from the Harry Potter movies; both in appearance and in character. CNBC interview was worthless. No hard questions asked, no homework on Shkreli's background.
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Post by brentie on Sept 21, 2015 14:18:43 GMT -5
Shkrelli was just on CNBC for a live interview. I thought I posted a thread to alert the board but I don't see where it posted. Anyway, he reminds me of Barty Crouch Jr. from the Harry Potter movies; both in appearance and in character. CNBC interview was worthless. No hard questions asked, no homework on Shkreli's background. video.cnbc.com/gallery/?video=3000423226
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Post by mssciguy on Sept 21, 2015 14:30:43 GMT -5
The way to go about getting it might be to contract with CROs in India or China, be sure the price is kept low, and the quality GMP or better, then sell mail order internationally. This toxoplasma is everywhere especially among those who have contact with cats but microbiologists I've known say you can often find in tap water... It's everywhere. Like Shrek. Like Cramer.... anywhere a quick easy buck can be made you can find em
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Post by esstan2001 on Sept 21, 2015 14:49:51 GMT -5
I'm really hoping I don't have to shut down this thread for politics... Any way, it's one thing to spend a billion or two to develop a drug and charge high prices to recoup not only the cost of a fully approved drug but also development of all the ones that don't make it. That's the pharma business. What is absolutely appalling is for companies such as Shkreli's to buy up old drugs (for a song), fully developed and off patent, and increase the price astronomically. I'm not sure how he gets away with it as i would think any generic drug manufacturer could step in, make the same drug, and undercut the price. Given the time (slightly longer than overnight) and a market, I am sure a Teva or similar would be happy to oblige... EDIT- Boy, I gotta start reading all the posts before I bother to reply. Savzak already nailed this one to the wall, that "Smart Guy"
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Post by obamayoumama on Sept 21, 2015 15:11:39 GMT -5
I'm really hoping I don't have to shut down this thread for politics... Any way, it's one thing to spend a billion or two to develop a drug and charge high prices to recoup not only the cost of a fully approved drug but also development of all the ones that don't make it. That's the pharma business. What is absolutely appalling is for companies such as Shkreli's to buy up old drugs (for a song), fully developed and off patent, and increase the price astronomically. I'm not sure how he gets away with it as i would think any generic drug manufacturer could step in, make the same drug, and undercut the price. Any generic should still have to go through the FDA approval process, which takes time and money. It might not make sense to spend the money on a generic on this drug, and that is what Shkreli is betting on.
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Post by liane on Sept 21, 2015 17:30:59 GMT -5
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