b o care will save us all money. :lol: :lol: :lol: :lol: :lol: :lol:
snip~
Specialists in infectious disease are protesting a gigantic overnight increase in the price of a 62-year-old drug that is the standard of care for treating a life-threatening parasitic infection.
The drug, called Daraprim, was acquired in August by Turing Pharmaceuticals, a start-up run by a former hedge fund manager. Turing immediately raised the price to $750 a tablet from $13.50, bringing the annual cost of treatment for some patients to hundreds of thousands of dollars.
more @
http://www.cnbc.com/2015/09/21/drug-goes-from-1350-a-tablet-to-750-overnight.html?__source=xfinity|mod&par=xfinity
Ugh oh.... AIDs patients mostly use this drug.
This company is going to take a beating.
I smell insurance fraud, or something damn close to it.
Quote from: quiller on September 21, 2015, 04:31:17 PM
I smell insurance fraud, or something damn close to it.
They will be pushing the little BLACK pill...
QuoteQuote from: quiller on September 21, 2015, 04:31:17 PM
I smell insurance fraud, or something damn close to it.
QuoteStocks of makers of biologic and "specialty" drugs plunged Monday after Democratic presidential frontrunner Hillary Clinton said she'll soon release a plan to address "price gouging" in the industry.
It was the one of the worst days of the year for the stock market performance of the biotech industry.
Clinton's announcement on Twitter follows news that drugmaker Turing Pharmaceuticals hiked the price of a 53-year-old drug for a potentially deadly parasitic infection from $13.50 per pill to $750. Because the drug, Daraprim, treats patients with compromised immune systems, the price hike of more than 5,000 percent sparked outrage from medical groups representing doctors who care for patients with HIV and other infectious diseases.
"Price gouging like this in the specialty drug market is outrageous," Clinton tweeted at 10:56 a.m. "Tomorrow I'll lay out a plan to take it on."
http://www.newsmax.com/Finance/StreetTalk/biotech-shares-stocks-drugs-hillary-clinton-tweet/2015/09/21/id/692565/#ixzz3mQ4oWiwq
I'll be this company owner is a lib creating an issue for Hillary! See how fast she came out? I'll bet they back off and give Hillary credit for making them "see the light"!
Quote from: redbeard on September 21, 2015, 04:44:29 PM
I'll be this company owner is a lib creating an issue for Hillary! See how fast she came out? I'll bet they back off and give Hillary credit for making them "see the light"!
QuoteCycloserine, a drug used to treat dangerous multidrug-resistant tuberculosis, was just increased in price to $10,800 for 30 pills from $500 after its acquisition by Rodelis Therapeutics.
Let's see if she can pull one more out of her ass. :lol:
Quote from: walkstall on September 21, 2015, 03:47:39 PM
Specialists in infectious disease are protesting a gigantic overnight increase in the price of a 62-year-old drug that is the standard of care for treating a life-threatening parasitic infection.
The drug, called Daraprim, was acquired in August by Turing Pharmaceuticals, a start-up run by a former hedge fund manager. Turing immediately raised the price to $750 a tablet from $13.50, bringing the annual cost of treatment for some patients to hundreds of thousands of dollars.
http://www.cnbc.com/2015/09/21/drug-goes-from-1350-a-tablet-to-750-overnight.html?__source=xfinity|mod&par=xfinity
So any patent on that drug would have expired a LONG time ago.
Where are the competitors? Is the FDA blocking them somehow?
And how much have this hedge fund manager and his cronies donated to the Dems?
And what connections do they have to FDA officials?
Quote from: je_freedom on September 22, 2015, 09:07:08 AM
So any patent on that drug would have expired a LONG time ago.
Where are the competitors? Is the FDA blocking them somehow?
And how much have this hedge fund manager and his cronies donated to the Dems?
And what connections do they have to FDA officials?
Supposedly there are other options out there and this drug is not used that much anymore. Sounds to me like some guy made a bad business decision to buy the firm who has the patent. The market will take care of this.
You can't blame obamadon'tcare for the greed of the company which bought the rights to this drug.
However that said, you can blame him, for allowing companies like this. Who charge we Americans, who likely already paid to develop and test the drug in the first place through the nose. (Tax money funds NIH for example) Because places such as Europe and Canada place caps on the amount they can charge for the drug. And they want to make up the "difference".
When you look at the way these pharmaceuticals operate today, it's quickly obvious that the American taxpayer is quite often, subsidizing the drug, both when it's developed and then later, as it's being sold to and in markets outside the U.S. If you ask me, it's way past time, we both stopped subsidizing research that will later be sold back to us (again), and for us to be expected to subsidize Europe and Canda's price caps.