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View Diary: Pharmaceutical company hikes price of preemie birth preventive (82 comments)

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  •  This is outrageous (6+ / 0-)

    Though I made some of my defenses of the pharmaceutical industry known here in the current diary on the rec list, this is one instance that is unequivocally indefensible.

    $10-20 a week to $1500??  If that isn't the definition of extortion, I don't know what is.

    "Give me a lever long enough... and I shall move the world." - Archimedes

    by mconvente on Mon Mar 14, 2011 at 08:29:29 PM PDT

    •  btw, here's the text of my comment (0+ / 0-)

      that I linked above (since that diary seems to be free of people now).

      "There's no question that pharmaceutical companies can be unscrupulous in their way of business (even criminal), but to bring drugs to market costs a lot of money, even if it's nowhere near their claim of $1 billion per drug.  

      One thing I notice missing in the above UMDNJ/U. of Victoria study is the amount lost on failed drugs - in economics terms, a sunk cost.  The last estimate I heard was 9 out of 10 drugs in Phase III (the phase where pharm companies are actually fitting a lot of the bill, compared to basic research) fail.  This money has to be recouped as well.

      This comment highlighted the differences between the FDA's requirement for establishing a new drug and the EU's requirement in regard to placebos.  There indeed are valid cases where a drug being tested should be better than one on the market, but to make that a requirement for all drugs is irresponsible.  Many cancers that would be clinically identical are caused by numerous different mutations in the same gene, and thus different drugs could have vastly different benefits for different patients.  In this common setting, it's not Drug A works better than Drug B, it's often Drug B works and Drug Adoesn't.  But if drugs were held to the EU standard, Drug B would never make it to market since it doesn't work better than A overall, but in a subset population of cancer patients, it could be the only drug that does work.

      And lastly, for all the evil "Big Xs" out there, at least the pharmaceutical companies manufacture products that do improve lives, which is much more than can be said about Wall Street that generates "wealth" by shuffling magic amounts of money as electrons across wires."

      "Give me a lever long enough... and I shall move the world." - Archimedes

      by mconvente on Mon Mar 14, 2011 at 09:33:28 PM PDT

      [ Parent ]

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