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Drug price increases 5000%

JPV

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Messages
858
At $13.50 per pill it was already overpriced as far as I'm concerned, especially for a generic drug that was developed over 60 years ago.

And this isn't the only drug this is happening to...
This 62-year-old drug just got 5,000% more expensive

To be sure, Daraprim is not the only fairly old drug that’s seen astronomical price increases recently. The price for cycloserine, a medicine used to treat drug-resistant tuberculosis, increased to $10,800 for 30 pills from $500 in August. Two heart drugs owned by Valeant Pharmaceuticals, Isuprel and Nitropress, saw their prices increase by 525% and 212% respectively this year. Even everyday drugs like antibiotic doxycycline have been affected, with its price rising to $1,849 a bottle in April 2014 from $20 a bottle in October 2013, according to a Congressional report.
The government, big pharma and Wall Street have become so corrupt it's simply mind boggling.
 

JPV

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858
You should check out this a**holes Twitter comments. He's a serious piece of work...

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LOL, he astronomically raises the price and has the gall to claim that it "aint my fault"? What a complete and utter sociopath.
 
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Gingergrrl

Senior Member
Messages
16,171
Not surprising. My insurance was trying to deny me Gastrocrom (which at the time I needed to eat w/o anaphylaxis) and charge me $1000 per box. After much debate with them, they went down to about $375 per box which I had no choice but to pay for about 5-6 months but thank God I no longer need this med. Had I not found an alternative, they were going to charge me close to $3000 for one bottle of Valcyte (but I got it another way and then didn't tolerate it so it didn't matter.) I don't see this kind of thing changing any time soon.
 

drob31

Senior Member
Messages
1,487
This is when it becomes beneficial to look at overseas prices, like alldaychemist... if that even carry that sort of thing.
 

JPV

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Messages
858
This is when it becomes beneficial to look at overseas prices, like alldaychemist... if that even carry that sort of thing.
I think the problem is that, even though it's generic, no one else has been interested in manufacturing due to limited demand.

Ironically, now that this jerk is price gouging, there may be an incentive for another company to start producing it.

Then again, I seemed to have read somewhere, that due to arcane and corrupt pharmaceutical laws, he may be able to block other companies from manufacturing it.
 

*GG*

senior member
Messages
6,389
Location
Concord, NH
Ironically, now that this jerk is price gouging, there may be an incentive for another company to start producing it.

Then again, I seemed to have read somewhere, that due to arcane and corrupt pharmaceutical laws, he may be able to block other companies from manufacturing it.

I think they bought exclusive rights, didn't read that, think I heard it on TV. FYI

GG
 

JPV

ɹǝqɯǝɯ ɹoıuǝs
Messages
858
I think they bought exclusive rights, didn't read that, think I heard it on TV.
Actually, this is what I found on the subject...
Drug Goes From $13.50 a Tablet to $750, Overnight

With the price now high, other companies could conceivably make generic copies, since patents have long expired. One factor that could discourage that option is that Daraprim’s distribution is now tightly controlled, making it harder for generic companies to get the samples they need for the required testing.
 
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Ecoclimber

Senior Member
Messages
1,011
Whois Martin Shkreli? The press really didn't dig deep enought. He a 32-year-old venture capitalist, ex hedge fund manager. Shkreli was fired by Retrophin's Board with Stephen Aselage being named as his replacement in September 2014. Retrophin filed a $65 million dollar lawsuit against Shkreli in August 2015, claiming he breached his duty of loyalty to the biopharmaceutical company in a long-running dispute over his use of company funds.

The biggest game is by hedge funds/venture capitalist and newly formed pharmaceuticals is to buy cheap patents for drugs that are critical for patients survival and then raising the price 350-5500%.

http://usuncut.com/class-war/watch-...ids-pill-by-5500-says-drug-still-underpriced/

Police Report: Pharma CEO Martin Shkreli Hacked Legal Rival and Harassed His Wife and Teenage Son For Months

Update: Some of the Big Pharma Reps are categorizing the unsavory characteristics of Martin Shkreli as ' pure greed' on twitter. Alicia Hardin@AliciaHardin 19h19 hours ago
@AlicusOfficial @MartinShkreli I AM big pharma. this drug has been out for 65 years and that argument is invalid.
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Messages
15,786
Hopefully this blatant abuse of the current system will provoke changes. Health care is an essential need of everyone - it does not belong in a for-profit framework.
 

sarah darwins

Senior Member
Messages
2,508
Location
Cornwall, UK
The biggest game is by hedge funds/venture capitalist and newly formed pharmaceuticals is to buy cheap patents for drugs that are critical for patients survival and then raising the price 350-5500%.

Good grief. This is kind of what those 'smart guys' at Enron did with electricity in California — buy the rights then just bleed the consumer dry. It's extortion, plain and simple, and the people doing it should be behind bars.
 

Violeta

Senior Member
Messages
2,895
Good grief. This is kind of what those 'smart guys' at Enron did with electricity in California — buy the rights then just bleed the consumer dry. It's extortion, plain and simple, and the people doing it should be behind bars.
I really believe there's a special place waiting for people who are doing stuff like that to their fellow mankind.