The price of drugs

[bobAlike]

A US pharmaceutical company has raised the price of a 62-year-old medication used by Aids patients by over 5,000%. Is this ever justified?

IMO They should send in the navy seals and kill the CEO.

http://www.bbc.co.uk/news/world-us-canada-34320413

[DaveShoelace]

A US pharmaceutical company has raised the price of a 62-year-old medication used by Aids patients by over 5,000%. Is this ever justified?

IMO They should send in the navy seals and kill the CEO.

http://www.bbc.co.uk/news/world-us-canada-34320413

Just reading this. America is just awful.

The dude claims he needs the price increase to fund future research on more effective drugs. He also said that he will give it away for free to those that can't afford it.

If he does, fairplay, but he is coming across very bad on his twitters https://twitter.com/MartinShkreli

[rfgqqabc]

Martin Shkreli retweeted
 Danny Polowy ‏@MarketTimer_F3  11 hrs11 hours ago
@MartinShkreli Apparently, 99% of the world's population consider themselves experts in the pharmaceutical industry.

I hope his PR firm have increased their prices too... What a disaster. Even if it was the right economic decision it just cannot be the right decision for the whole business. Some of his argument makes some sense to me. And then he compares the costs of cancer drugs to this one, describing it as a "peer" which seems pretty silly imo. The cost of saving your own life shouldn't be compared when it comes to pricing up these sorts of drugs and I can't believe this fact has escaped what appears to be a reasonably intelligent guy.

http://www.bloomberg.com/news/videos/2015-09-21/why-turing-increased-price-of-daraprim-over-500-

I actually think his heart is in the right place here but he just comes across so poorly everywhere.

[Graham C]

That's disgusting.  How the hell he can come up with that price is beyond belief.  The drug only costs $1 to make!  

[Ironside]

Good news is his company only has licence in USA so it's insurance companies and those paying for insurance that will take the hit. And those people in poorer countries will get non generic drugs at a much cheaper price

[titaniumbean]

http://www.vox.com/2015/9/22/9366721/daraprim-price-shkreli-turing

I dont see how you can 'play to win' when you are in the market for life saving drug treatments.


but yeh this isn't the most stupid thing i'll hear about America today so i'm not shocked!

[Graham C]

Good news is his company only has licence in USA so it's insurance companies and those paying for insurance that will take the hit. And those people in poorer countries will get non generic drugs at a much cheaper price

A lot of people have healthcare cover in the US as there's no NHS.  If you get healthcare provided in your work, then company healthcare costs will dramatically increase.  Those companies will then have to raise prices.  It's not really good news, if all drug companies take similar lines it could have a global knock on effect.

Besides that, lifesaving drugs should be affordable by those that need them.  Of course I'm not against companies making a profit, I'm all for it but to raise the cost from $13.50 to $750 for a tablet that costs $1 to make is beyond belief. 

[titaniumbean]

remember this is the country that has guaranteed they will lock up a high number of young black men so the prison operators make profit  



Murica fuk yeh!

edit this comes out in full next week and will be interesting to hear-

https://www.vice.com/read/fixing-the-system-prisons-obama-shane-smith-hbo?utm_source=homepage

[DaveShoelace]

remember this is the country that has guaranteed they will lock up a high number of young black men so the prison operators make profit  



Murica fuk yeh!

edit this comes out in full next week and will be interesting to hear-

https://www.vice.com/read/fixing-the-system-prisons-obama-shane-smith-hbo?utm_source=homepage

Their prisons really are just a form of slavery. They have 5% of the world's population and 25% of the world's prisoners.

Good to see Michael A Wood featured on that, his interview with Joe Rogan was jaw dropping:

[Ironside]

http://www.theguardian.com/business/2015/sep/23/us-pharmaceutical-firm-to-roll-back-5000-price-hike-on-drug?CMP=fb_gu