Drug companies and price increases

Bobw235

Bobw235

Senior Member
Location
Massachusetts
Many of us recently heard about the example of Turing Pharmaceutical having jacked up the price of some obscure medicine by an exorbitant amount overnight. Here's an article from today's NY Times on the practice by some drug companies. Should the US regulate drug prices? With practices described in the article, one might argue yes it is time to regulate prices, especially if we want to get a handle on Medicare costs. Interesting article which will make you shake your head at the greed inherent in this industry. http://www.nytimes.com/2015/10/05/b...column-region&region=top-news&WT.nav=top-news
 

These companies have to pay for all their advertising. I am still gobsmacked when I visit the US and see drugs advertised on tv. They don't even say what the drug is for - only the long list of possible side effects They simply say ask your doctor if you need this drug, so of course there's more money for the doctor since you need to visit to ask and more money for your insurance company, then the drug company makes more money on the drug you probably didn't need anyway.

Only two countries allow this type of advertising - the US and New Zealand. It's disgraceful. All about profit.
 
IF a government program pays for the drug the price should be regulating it. If patient can negotiate a price ie cash discount etc go ahead. If a private for profit insurance company will pay the ask price so be it. Just as it is 'for profit' the fact the someone else is frequently paying for it inflates the price. The patients and public have to act on the outrageous prices by doing things like asking for generics-I know some that want nothing to do with a generic, they feel entitled to the brand out of choice not need. Also non big pharma alternatives should always be explored.

For profit, subsidization and out of pocket is a consumer combination that does not make for thrifty pricing.
 

I think the drug industry should absolutely be regulated. My husband has had to do without any number of medications because Medicaid refused to cover them. Lidocaine patches? You don't need those, take a few more aspirin. I would be furious if suddenly my meds had to be changed because the manufacturer decided to jack the price. Oh and just last night I saw one of those ads on TV. It was for Humira, used to combat IBS. I know IBS can be a painfully disabling condition. But jeez the side effects can be heart failure, cancer and tuberculosis...oh my gut feels much better, but now I have cancer with an upcoming heart attack, thanks Humira!
 
Pfizer raised prices 133 times last year.

http://www.bloomberg.com/news/artic...ces-on-133-drugs-this-year-and-it-s-not-alone

This is why there needs to be alternatives so people don't get stuck relying on one drug and one company. Perhaps more effort needs to be spent on alternatives for the same condition even though there is "a" or at least one drug for it. Should resources be devoted to serving the masses with cheaper drugs and more choice for patients & doctors or curing a disease that affect far less. Maybe the industry or thinking needs to catch up-literally prioritizing accessibility rather the number of diseases they cured
 
Prescription drugs...and their ridiculous costs...will hopefully be the trigger mechanism that Finally sends this nation to a SP-UHC plan. The Greed in the drug companies is becoming almost ridiculous...and the majority of their potions do little or nothing to cure an illness...they just Mask the symptoms. They spend billions on advertising and brainwashing the public...and the public gets to pay for the Ask Your Doctor propaganda. Then, when the side effects start killing people, the lawyers take over...and Again the public gets to Pre-Pay for all these class action lawsuits. Its a vicious circle that does few, other than the company shareholders, any real lasting good.

In reality, if people followed a good regimen of proper diet and exercise, our drug and overall health care costs could probably be cut in half.
 
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"In reality, if people followed a good regimen of proper diet and exercise, our drug and overall health care costs could probably be cut in half."

I've been begging some people to exercise and take certain vitamins for their bp and other things. Yet they run in a panic to get their script filled if they are empty and complain bitterly about trips to the bathroom and/or lethargy. Too many have been indoctrinated over the years that it's a pill or procedure from the medical industry only.

I not victim blaming but too many have things that can be controlled, delayed or eliminated by their very own behavior & their choice of "treatment".
 
In the past few years, I've had a dozen friends develop serious health issues, or pass away. With One exception, they All share a common trait...OBESITY. They lay around on the recliner all day watching TV, and drinking beer or a soda, and the Only exercise they get is getting up to go to the bathroom, or the fridge. I'm sure that there are a few people who have some medical condition that affects their metabolism, but the vast majority of those who are substantially overweight got that way by years of abusing their bodies. There isn't a drug in the world that is going to overcome that.
 
Don M. said:
In the past few years, I've had a dozen friends develop serious health issues, or pass away. With One exception, they All share a common trait...OBESITY.
Click to expand...

No doubt there is much truth in the role that obesity plays in our ability to stay healthy as we age, and it's one of the prime reasons that I have lost over 30 lbs since the beginning of this year. Even so, many are afflicted by diseases that may be rare or are perhaps caused by genetics. One of the things I got out of the article was that we (at least here in the US) are basically at the mercy of these companies when it comes to our health if there's a specific drug that we need to stay alive. In some cases there are no generic alternatives to some of these medications. If you look at the recent example of the company that raised the price overnight by over 7000%, that was a situation where they did so solely for profit. The people in need of that drug die if they don't get it. There are no substitutes for that specific medication. This was a remarkable case of greed and heartlessness on display, and if not for social media, they likely would have gotten away with it. To argue that insurance or Medicare will pay only obscures the impact of such practices, because ultimately we all pay the price in the form of higher premiums. In the end, I come down on the side of regulating Big Pharma and controlling prices, because I think there's too much at stake here.
 
These drug companies are sewing the seeds of their own destruction...and the collapse of our entire medical system. In the interim, large numbers of our people are going bankrupt feeding the profits of our corrupted system. Present attempts to resolve these problems are showing to be futile....there is NOTHING "Affordable" in the Affordable Care Act. Only a complete revamping of our present system, and a serious move towards a Universal Health Care System is going to make any appreciable difference.

With regard to Obesity...virtually every statistic from the CDC, etc., shows that Obesity is the number one cause for many of our nations health issues. Every medical study and report shows that excess weight and lack of exercise is the Worst thing a person can do to themselves. This excess weight and sedentary lifestyle leads to multiple complications that cripple people in their senior years....AND cost us All dearly in terms of increased costs for insurance, etc. I take those reports seriously, and when I retired I made it a goal to get my big belly under control. I retired at about 200 lbs., and have trimmed down to about 160, and outside of a bit of arthritis, I feel as good as I did 20+ years ago.

Today, for example, after I finish typing and let breakfast settle, I will get the tractor and logsplitter out, and chop up another cord of Winter firewood. I will probably wrestle about 4,000 lbs. of wood today. There is NO substitute for some serious physical work/exercise.
 
I'm not clear why you are making obesity and issue in this thread... I thought is was about drug companies and their exorbitant pricing. Are you saying that people that are sick because of their own doing... ie.. obesity caused by laziness or over eating really shouldn't complain about the cost of medicine?
 
QuickSilver said:
I'm not clear why you are making obesity and issue in this thread... I thought is was about drug companies and their exorbitant pricing. Are you saying that people that are sick because of their own doing... ie.. obesity caused by laziness or over eating really shouldn't complain about the cost of medicine?
Click to expand...

I am Homing in on Obesity because it is the leading cause for why the drug companies are "raping" the wallets of our population. There is a "reason" why people feel the need to get hooked on these drugs, and Obesity is rapidly becoming the primary reason. Here are some sites to "ponder".

1. The CDC has identified Obesity as the nations Number One Health issue.
http://www.worldhealth.net/news/obesity_number_one_health_problem_in_us_/

2.Harvard University has summarized the economic costs of Obesity in the U.S.
http://www.hsph.harvard.edu/obesity-prevention-source/obesity-consequences/economic/

3.At the present rate, it is estimated that Obesity will cost the people of this nation 344 Billion dollars a year by 2018
http://fightchronicdisease.org/medi...hows-obesity-costs-will-grow-344-billion-2018

People complain about our soaring health care costs....while they sit on the couch eating a snack, and drinking a beer, or "diet" soda. Who do they think is going to be paying for these costs????

I try to take measures to get plenty of exercise and watch what I eat. Today, I split another cord of Winter firewood....probably lifted 4,000 lbs of wood, and burned a Bunch of calories. I have No Sympathy for those who just lay around and do nothing to keep themselves fit....Especially when I see my insurance rates being raised to cover the costs of their Slovenly Habits. Since I have to "contribute" to the cost of their health care, I reserve the Right to express my opinion.

So....That is my Rant for today. If this offends anyone, Good...maybe they will take a good look at themselves in the mirror. Now, its off to the shower, then relax a bit, and eat a moderate portion of a healthy meal the wife will be preparing for Supper.
 

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