It is shocking and one wonders if we'd be in this situation if health insurance and other programs didn't pay for as much of the cost as they do. There are drugs commonly used in the U.S. that can be had for a fraction of the cost elsewwhere in the western world but we pay a huge amount. Healthcare reforms have failed to address this calamity, not surprising considering the golden rule.
Companies will oament the huge expense of drug development, while they do so they fail to mention the huge amounts tax subsidies and write-offs they receive, along with development programs that the government pays for a signifigant portion via the NIH. Drug companies would not risk the huge expense withhout the huge profits. We as a society have to ask which expense we are willing to bear that of thralls to a system we are virtually thralls or a future where the promised benfits of the biomedical revolution are delivered at a slower pace.
Of course, if big Pharma did not advertise direct to the consumer, that advertising budget could be applied elsewhere in manufacturer's expenses. How much does an add during the evening news or the Superbowl cost?
Advertising is a deductable expense. They have deep pockets we've all paid for they can manage that portion they retain. It's insignifigant compared to claimed development costs. Thereks clearly a huge profit in it or they wouldn't be doing it.
Possibly interesting trivia: This drug was developed out of thalidomide, the birth defect causing sedative from the early 60's. I remember seeing a documentary about it way back when. It seems the very thing that made it cause congenital defects also shrinks tumors.
The same drugs are available in other countries for much less money. Congress was unwilling to allow the government to negotiate with big Pharma to lower prices.
Capitalism has no place in healthcare. The big secret is that you can purchase an over the counter version, take 4 pills instead of one and get the same strength of the prescription for about $20.
....that's not true in this case but it just worked this week for one of my wife's medications. Buyer beware!
It is shocking and one wonders if we'd be in this situation if health insurance and other programs didn't pay for as much of the cost as they do.
ReplyDeleteThere are drugs commonly used in the U.S. that can be had for a fraction of the cost elsewwhere in the western world but we pay a huge amount. Healthcare reforms have failed to address this calamity, not surprising considering the golden rule.
And this...
Deletehttp://tywkiwdbi.blogspot.com/2011/03/big-pharma-raises-price-of-vital.html
Companies will oament the huge expense of drug development, while they do so they fail to mention the huge amounts tax subsidies and write-offs they receive, along with development programs that the government pays for a signifigant portion via the NIH. Drug companies would not risk the huge expense withhout the huge profits. We as a society have to ask which expense we are willing to bear that of thralls to a system we are virtually thralls or a future where the promised benfits of the biomedical revolution are delivered at a slower pace.
ReplyDeleteOf course, if big Pharma did not advertise direct to the consumer, that advertising budget could be applied elsewhere in manufacturer's expenses. How much does an add during the evening news or the Superbowl cost?
DeleteAdvertising is a deductable expense. They have deep pockets we've all paid for they can manage that portion they retain. It's insignifigant compared to claimed development costs. Thereks clearly a huge profit in it or they wouldn't be doing it.
DeletePossibly interesting trivia: This drug was developed out of thalidomide, the birth defect causing sedative from the early 60's. I remember seeing a documentary about it way back when. It seems the very thing that made it cause congenital defects also shrinks tumors.
ReplyDeleteThe same drugs are available in other countries for much less money. Congress was unwilling to allow the government to negotiate with big Pharma to lower prices.
ReplyDeleteThe free market in all it beauty and wonder!
DeleteCapitalism has no place in healthcare. The big secret is that you can purchase an over the counter version, take 4 pills instead of one and get the same strength of the prescription for about $20.
ReplyDelete....that's not true in this case but it just worked this week for one of my wife's medications. Buyer beware!