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trump buying into the big pharma bs?

dhdawg
dhdawg Member Posts: 13,326
edited February 2017 in Tug Tavern
http://m.dailykos.com/story/2017/1/31/1628064/--Negotiator-Trump-caves-to-big-pharma

Yikes. Negotiating down drug prices was one of the few good things that he said he'd support.

Of course he talks about tax breaks. Cause that's otally What They need. More profit
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Comments

  • doogie
    doogie Member Posts: 15,072
    Obama and the Demorats sure did
  • dhdawg
    dhdawg Member Posts: 13,326
    doogie said:

    Obama and the Demorats sure did

    selling out to pharma is one of the few things in Washington with bipartisan support
  • RaceBannon
    RaceBannon Member, Moderator, Swaye's Wigwam Posts: 115,606 Founders Club
    Selling out period. This particular story probably needs a little more time to get some actual facts in there though
  • Fenderbender123
    Fenderbender123 Member Posts: 2,989
    edited February 2017
    I'd like to see how much the drug companies are profiting per pill. If a company makes a billion dollars profit, but sells 20 billion pills, I can't see how they can afford to significantly lower prices. In that case, tax cuts and deregulation make sense if it gives them the breathing room necessary to make those cuts.
  • 2001400ex
    2001400ex Member Posts: 29,457

    I'd like to see how much the drug companies are profiting per pill. If a company makes a billion dollars profit, but sells 20 billion pills, I can't see how they can afford to significantly lower prices. In that case, tax cuts and deregulation make sense if it gives them the breathing room necessary to make those cuts.

    The issue with drugs. They invest in hundreds of drugs but only a few hit. So they have to pay for the losers from the winners, which makes it difficult to assess profitablity like that.

    That being said, charging $35 in the ER for one aspirin is dumb. But if you buy OXY, it costs $8 after insurance for a bottle but the pills go for $50 a pill in the black market.
  • priapism
    priapism Member Posts: 2,388
    Big pharma is destroying America.

    image
  • GrundleStiltzkin
    GrundleStiltzkin Member Posts: 61,516 Standard Supporter
    priapism said:

    Big pharma is destroying America.

    image

    @priapism would know.
  • tenndawg
    tenndawg Member Posts: 1,161

    This particular story probably needs a little more time to get some actual facts in there though

    Why ? Not for our purposes

    We just wany to engage in juvenile name calling about that fake orange haired narcissistic sociopath...
  • BearsWiin
    BearsWiin Member Posts: 5,076
    2001400ex said:

    I'd like to see how much the drug companies are profiting per pill. If a company makes a billion dollars profit, but sells 20 billion pills, I can't see how they can afford to significantly lower prices. In that case, tax cuts and deregulation make sense if it gives them the breathing room necessary to make those cuts.

    The issue with drugs. They invest in hundreds of drugs but only a few hit. So they have to pay for the losers from the winners, which makes it difficult to assess profitablity like that.

    That being said, charging $35 in the ER for one aspirin is dumb. But if you buy OXY, it costs $8 after insurance for a bottle but the pills go for $50 a pill in the black market.
    I recall seeing some numbers several months back that indicate pharma companies spend significantly more on advertising than they do on R&D; the "we need to rape you on the drugs that work to pay for the drugs that don't" argument doesn't hold water.