A Huge Overnight Increase in a Drug’s Price Raises Protests

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EmperorNapoleon said:
No, the difference is that I don’t have a company with the resources to bribe the government not to press criminal charges. GM, for example, just payed $900 million to avoid criminal charges for the injuries and deaths resulting from the ignition switch defect. The big banks and investment firms have made similar arrangements to avoid prosecution of their executives since the financial crisis. Big pharma does it too.
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Hope and change.

Jon
 
Theo520 said:
My you are confused, let me try again.

Greed is one of the seven Capital Vices that articulate humanities basic sins: (wrath, greed, sloth, pride, lust, envy, and gluttony). They describe human nature, not an economic system.

Capitalism recognizes these vices exist and uses them for the greater good. You contain excess profits by ensuring competition for the customer.

Socialism ignores these vices, pretending they will not interfere with execution of the idealized master plan of how people and organizations should operate. Socialism is in direct conflict with human nature, hence it fails.

Capitalism requires some level of Govt to establish and enforce standards and regulations.
A capitalist system also requires Religion to guide people in their spiritual growth, to help them recognize that the Capital Vices are in fact sins, not unadulterated virtues. Religion provides heart and governance.
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👍
 
EmperorNapoleon said:
It is a product on which human lives depend. The government should seize the patent and make it available to any company that wishes to produce it. The hedgefund manager should be jailed for extortion and murder if someone dies because of his greed.
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Wonderful idea!! But why stop there? The Gubmint ought to seize everything “on which human lives depend.” Food…shelter/housing…water supplies…and anyone who tries to make a profit & becomes wealthy (Bill Gates, Warren Buffett, etc) should be jailed. That will solve everything!!! 😃
 
SMH_2015 said:
Wonderful idea!! But why stop there? The Gubmint ought to seize everything “on which human lives depend.” Food…shelter/housing…water supplies…and anyone who tries to make a profit & becomes wealthy (Bill Gates, Warren Buffett, etc) should be jailed. That will solve everything!!! 😃
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Food prices are already regulated/manipulated as are housing and water.
 
EmperorNapoleon said:
Food prices are already regulated/manipulated as are housing and water.
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How does the government regulate food prices? Does it tell the local grocery store what prices they can charge? The trendy grocery store in the high income town charges $6 a pound for chicken. Is there someplace where I can turn them in, instead of my usual practice of buying chicken in the poor town?
 
stinkcat_14 said:
How does the government regulate food prices? Does it tell the local grocery store what prices they can charge? The trendy grocery store in the high income town charges $6 a pound for chicken. Is there someplace where I can turn them in, instead of my usual practice of buying chicken in the poor town?
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No. Things such as the farm bill, price supports for certain items, etc. manipulate the food economy. No constitutional mandate for that, either.

And the EPA has been trying to unconstitutionally seize water for years now.

Jon
 
graciew said:
I do not see much point in the “isms” right now.
The case is this drug is needed for toxoplasmosis for instance and it can be serious for moms and babies.
Life goes above everything else and this is a concrete situation for a lot of persons.
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I agree that life goes above everything else, but we must work within the law, and constitutional rights. So, for example, I’m thrilled that George Tiller is no longer killing babies, but murdering him was not the moral or ethical way to stop him. Life goes above everything, but…

Jon
 
stinkcat_14 said:
How does the government regulate food prices? Does it tell the local grocery store what prices they can charge? The trendy grocery store in the high income town charges $6 a pound for chicken. Is there someplace where I can turn them in, instead of my usual practice of buying chicken in the poor town?
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LOL, I shop at Costco.
HEY, they must be socialists instead of capitalists, per Emperor’s definition. Costco has a limited profit margin and reduced product range, so they focus on high volume.
 
JonNC said:
I agree that life goes above everything else, but we must work within the law, and constitutional rights. So, for example, I’m thrilled that George Tiller is no longer killing babies, but murdering him was not the moral or ethical way to stop him. Life goes above everything, but…

Jon
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:confused: yes…I guess any civilized person gets this…
 
There has to be more to this story. Daraprim would have long been out of patent, so anybody can manufacture it if they want to. Apparently there is a lot of resistance to it developed over the years.

It’s certainly possible that Turing found a cheaply-produced drug that nobody but one maker makes because it’s little used, and figured they could gouge until other manufacturers came on line with it. It’s possible, too, that they shut down most of the production if it was no longer in significant demand. It could be sort of like trying to buy a brand-new Model T today. If nobody makes them but a small group of replica-makers, it would sell for a lot more than the original Model T did or that a widely-manufactured Model T would.
 
sallybutler said:
You are aware that each state controls who sells insurance in their state , aren’t you? Are you suggesting that the states should be forced to let out of state businesses sell products they don’t want in their state?
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Yes, states should not be able to prevent citizens from purchasing items from other people in other states. There’s no justification for setting up protectionist rackets like this.

In every instance when this happens, consumers are hurt by the lack of competition. The protected companies reap windfalls and continue to give money to the politicians that protect them.
 
Theo520 said:
From a business perspective, it was a very stupid move. I did a quick google and over 40 Indian companies make the generic ingredient of this drug. The only hitch here is how long it will take the FDA to approve competitors for US sales.
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My question is why is there only one manufacturer of this drug? How did this come to be? Is it a rarely used drug, without much profit (if any)? Are there no generics?

And I’d be willing to bet a few dollars that this is happening because of some loophole that will be exploited in Obamacare…
 
EmperorNapoleon said:
Greed is the fuel of Capitalism.
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:rotfl::rotfl::rotfl:

Do you or did you have a job where you accepted a salary or wage? If so, then you were participating in capitalism. Were you being greedy?
Compassion is the fuel of Socialism.
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:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

There are few things MORE greedy than socialism. Which is ironic since socialism produces MORE scarcity than capitalism.
Greed will never be completely eradicated, but the damage it does can be mitigated by ending Capitalism.
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Now I see where you get some of your views, and how messed up your thinking truly is. Socialism only produces scarcity and misery. It doesn’t come close to ending greed.
 
zz912 said:
My question is why is there only one manufacturer of this drug? How did this come to be? Is it a rarely used drug, without much profit (if any)? Are there no generics?

And I’d be willing to bet a few dollars that this is happening because of some loophole that will be exploited in Obamacare…
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When it comes to prescription drugs, the real villain was Bush and Medicare part D. The federal government is actually prohibited from negotiating drug prices. That is the problem with socialized medicine, eventually you run out of other people’s money.

blog.cahealthadvocates.org/2014/05/why-cant-medicare-negotiate-lower-drug-prices-for-part-d/
 
JonNC said:
Under socialism, these kinds of drugs never exist in the first place.
Jon
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:confused: Which kind of drugs? Are there no scientists in socialist countries? I seem to have heard that Cuba has research which outsiders can’t wait to get their hands on. Just because a country’s political system is rotten doesn’t preclude real science going on there.
 
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