How can drug co. justify this?

Butterfly said:
Nevertheless, this does NOT justify gouging and price fixing by pharmaceutical companies.

According to news I heard yesterday, there's a generic available, but the FDA has blocked its release to the market. I'd like to know the true scoop on that, and why it has been blocked, if it's true.

Now that we've just had one big drug company, Pfizer, I think it is, buying out another, I think we can expect prices of their drugs to go up, too.
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That's right....We have TWO problems in this nation....as I see it. First, we have a Health Care System that is motivated mostly by MONEY, and Second, we have a population that refuses to follow proper personal health care habits. This combination is quickly leading us ALL to a point where rising costs are going to become a major financial hardship for a major portion of the entire population. Health Care in the US, already consumes almost 18% of the nations GDP, and this is nearly double that of nearly every other nation. If we are EVER going to get these costs down to a reasonable level, it will take a major overhaul of our current system, AND a change of lifestyle for millions of our people.
 

Don M. said:
That's right....We have TWO problems in this nation....as I see it. First, we have a Health Care System that is motivated mostly by MONEY, and Second, we have a population that refuses to follow proper personal health care habits. This combination is quickly leading us ALL to a point where rising costs are going to become a major financial hardship for a major portion of the entire population. Health Care in the US, already consumes almost 18% of the nations GDP, and this is nearly double that of nearly every other nation. If we are EVER going to get these costs down to a reasonable level, it will take a major overhaul of our current system, AND a change of lifestyle for millions of our people.
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I think your reasoning may be a bit off. Blaming the victim in this case does not justify these types of increases. While some may benefit from lifestyle choices, many illnesses develop from genetic predisposition. Of course the insurance companies want to blame everybody and everything for inflated pricing. Not everyone is overweight, and many people that need medication have not lived an unhealthy lifestyle. There should be no guilt or blame to getting sick or needing medication. Would we really want someone coming up with an excuse to prevent us from receiving treatment? Oh, you're overweight and this is why you have high blood pressure or diabetes. Lots of people are but many are not. Oh, you don't eat right, that is why your cholesterol is high. Yeah? Some of it is genetic and there could be other reasons. Since eliminating gluten from my diet, my numbers are good. Before that, dr had me on cholesterol meds that caused many side effects.

They are doing this for TWO REASONS - it's because they CAN and because they are greedy. Don't buy into their charts and excuses. It's a business and as long as they can do this and get away with it, they will. BTW--if everyone were to be more health conscious and need less medicines, do you think their business would be more profitable? No, I think what they are doing is immoral.
 
I would be willing to order from Canada, but how do you know what companies are reputable? I'm looking for Seroquel 100mg. Effexor too if I can find it ( 150 and 75 mg) The US prices for a month of each is over $100.
 

fureverywhere said:
I would be willing to order from Canada, but how do you know what companies are reputable? I'm looking for Seroquel 100mg. Effexor too if I can find it ( 150 and 75 mg) The US prices for a month of each is over $100.
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You would be buying the exact same drug.. produced by the same company ... only a lot cheaper.. They only like to gouge Americans
 
The latest info I could find about salary of CEO of Mylan Epi-pen, Robert Coury, was a 2013 report. His pay then was $10,613.00 per year.. There may be a new officer now, and of course a larger salary.
The reason I bring this up is because, on the ABC news tonight, they reported that he, the CEO, will be getting a large increase in salary this year.
Bend over folks, this is just the beginning.
 
You are correct, Pappy, I ran across this earlier...

[h=1]Mylan Execs Gave Themselves Raises As They Hiked EpiPen Prices[/h]Mylan Execs Gave Themselves Raises As They Hiked EpiPen Prices
by BEN POPKEN

EpiPen prices aren't the only thing to jump at Mylan. Executive salaries have also seen a stratospheric uptick.

Proxy filings show that from 2007 to 2015, Mylan CEO Heather Bresch's total compensation went from $2,453,456 to $18,931,068, a 671 percent increase. During the same period, the company raised EpiPen prices, with the average wholesale price going from $56.64 to $317.82, a 461 percent increase, according to data provided by Connecture.

In 2007 the company bought the rights to EpiPen, a device used to provide emergency epinephrine to stop a potentially fatal allergic reaction and began raising its price. In 2008 and 2009, Mylan raised the price by 5 percent. At the end of 2009 it tried out a 19 percent hike. The years 2010-2013 saw a succession of 10 percent price hikes.

http://www.nbcnews.com/business/con...elves-raises-they-hiked-epipen-prices-n636591
 
I think it is disgusting to raise the price on a life saving drug. Of course that isn't the only thing that makes me sick about the drug companies.I can't believe the drug companies don't have a cure for cancer,but would lose too much money if they revealed it. I think about when I was growing up and they found something to stop Polio. Now how many years have people been dying from Cancer and still no cure.It's all about the money !
 
[h=1]EpiPen maker lowers price after uproar[/h]Source: The Hill

By Peter Sullivan - 08/25/16 08:49 AM EDT

The maker of EpiPens announced Thursday that it is reducing the price of the device following an uproar in Washington over the cost of the treatment for serious allergic reactions.

Mylan, the company that makes EpiPens, said it will provide a savings card worth up to $300 for people who had been paying the full out-of-pocket cost, effectively reducing the cost by 50 percent.
The company is also doubling the eligibility for its patient assistance program, which eliminates out-of-pocket costs for uninsured and underinsured people.

"We have been a long-term, committed partner to the allergy community and are taking immediate action to help ensure that everyone who needs an EpiPen® Auto-Injector gets one,” CEO Heather Bresch said in a statement.

The move comes one day after Hillary Clinton denounced the company for hiking the cost of EpiPens 400 percent in recent years. Lawmakers on Capitol Hill had also sounded the alarm, sending letters to the company and to the Food and Drug Administration pressing for answers.

-snip-

Read more: http://thehill.com/policy/healthcare/293273-epipen-maker-lowers-price-in-response-to-uproar
 
Hopefully this price insanity will be stopped or at least slowed down. More here.


Clinton, Congress take aim at EpiPen price hikes


It’s not just consumers who are crying foul; candidates and elected officials have also taken a keen interest of late. The Wall Street Journalreported late yesterday:
Democratic presidential nominee Hillary Clinton jumped into the fray over rapid price increases for the EpiPen, a life-saving injection for people who are having severe allergic reactions.

Mrs. Clinton called the recent price hikes of the EpiPen “outrageous, and just the latest example of a company taking advantage of its consumers.”
​
In a written statement calling for Mylan to scale back EpiPen prices, Clinton added, “It’s wrong when drug companies put profits ahead of patients, raising prices without justifying the value behind them.”
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With many schools and other organizations keeping epi pens on hand the price should be regulated, not discounted with psuedo club card or discount. If Mylan is going to take government money they should take what the government and people are willing to pay. Private sales and prescription plans are another story. It's older knowledge though, kind of late to use the r & d excuse.
 
[h=1]EpiPen maker’s stock value drops nearly $3 billion in 5 days as investors panic[/h]Mylan Pharmaceuticals — the company behind the price gouging of the EpiPen — is experiencing serious karmic retribution in the stock market.

In just five days, Mylan’s stock has tanked by 12.4 percent as outrage over its astronomical price increases of the life-saving EpiPen has reached a boiling point. Mylan’s stock price went from a high of $49.20 per share on August 19 to $43.11 on August 24, according to MarketWatch:

mylanmkw.png


more at http://usuncut.com/class-war/epipen-makers-stock-value-drops-3-billion-5-days-investors-panic/
 
Yup...More Drug Company BS! First they jack the price by 600%, then, when the public outcry occurs, they cut the price in half...Still Giving Them A 300% profit. I just hope some Generic product is released to compete with this drug, and drive the Mylan stock down to half its present value...That would serve this outfit right.
 
Don M. said:
Yup...More Drug Company BS! First they jack the price by 600%, then, when the public outcry occurs, they cut the price in half...Still Giving Them A 300% profit. I just hope some Generic product is released to compete with this drug, and drive the Mylan stock down to half its present value...That would serve this outfit right.
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Couldn't happen fast enough to this bunch of A-holes.
 
WhatInThe said:
With many schools and other organizations keeping epi pens on hand the price should be regulated, not discounted with psuedo club card or discount. If Mylan is going to take government money they should take what the government and people are willing to pay. Private sales and prescription plans are another story. It's older knowledge though, kind of late to use the r & d excuse.
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It would help if the government were allowed to negotiate drug prices for Medicare part D and for schools.. However, GW Bush was opposed to that. And it was voted down.

http://www.nytimes.com/2006/11/13/washington/13medicare.html?_r=0
 
They need competition. Teva wanted to produce a generic, but the FDA opposed. Hopefully, all this attention might make competition a reality.
 
According to an article in the WSJ, several companies have tried to produce their own version of the Epi-pen but government rules are making it difficult to get them to market. Apparently, the problem is not the drug they are using but the delivery mechanism.
 
It's only Epinephrine.. It's widely available.. Use a small insulin syringe... and learn how to draw up the right amount of medication from the vile to inject into your thigh would bypass the need for epipens. Seems to me that would be better than $600 epipens
 
QuickSilver said:
It's only Epinephrine.. It's widely available.. Use a small insulin syringe... and learn how to draw up the right amount of medication from the vile to inject into your thigh would bypass the need for epipens. Seems to me that would be better than $600 epipens
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I just read something on that. They say the same thing but the average person takes 2 1/2 minutes to get the medication ready for injection which is too long. That and keeping a loaded syringe would speed up decay since things like light can age it.
 

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