Renocat agrees with MG about greedy gouging drug companies

[renocat]

This hurts, but MG made  a good point yesterday about a trend of drug companies buying old drugs and rebranding them as specialty drugs.  She said this is shameful because of the gouging taking place. The NY Times reported the example of one  company that bought an old drug for treating internal parasites that sold for $13.50 a pill.  Now it's a speciality drug the sells for $750 per pill.  That is not right.   I am sure MG's solution will be tax the hell out of the rich and kick her horny goat Billie gruff in the wallies. 

[star seed 7]

Disgusting

[steve dave]

I can tell you one thing, that drug company guy is not feeling the bern.

[Asteriskhead]

what is your solution to this issue, reno? information asymmetry and the relative inelasticity of prescription drugs pose a quite difficult problem here, no?

[CNS]

The resolution is something Reno is fully against....  Regulation of drug companies

[renocat]

Allow us to buy foreign drugs at our own risks.  Competition is better than price control.  Gougers should be put up to ridicule and a special Ovarmit tax put on these companies to penalize them.  Plus hire some illegal trump haters to jam pills up the butt of these greedy ceos.

[puniraptor]

Renocat taking a reno piss on the free market. I've seen it all.

[BrokenSky1113]

what is your solution to this issue, reno? information asymmetry and the relative inelasticity of prescription drugs pose a quite difficult problem here, no?

Privatize pharmaceutical research and development. It is in the public's interest to keep finding new medications and as situations like this show, you can't trust companies with the public health when profit is involved.

It's never made sense why you are regulated when you want to sell a product that harms people (tobacco, gambling & booze) but when your product helps people you can gouge the price as you see fit. We talk a lot about reducing the cost of health care in this country, but even with Obamacare the cost of products and services hasn't gone down.

I know privatization of industry is going to make reno's head do this but I think the problems within the health care industry have gotten so severe drastic action is needed.

[Asteriskhead]

what is your solution to this issue, reno? information asymmetry and the relative inelasticity of prescription drugs pose a quite difficult problem here, no?

Privatize pharmaceutical research and development. It is in the public's interest to keep finding new medications and as situations like this show, you can't trust companies with the public health when profit is involved.

It's never made sense why you are regulated when you want to sell a product that harms people (tobacco, gambling & booze) but when your product helps people you can gouge the price as you see fit. We talk a lot about reducing the cost of health care in this country, but even with Obamacare the cost of products and services hasn't gone down.

I know privatization of industry is going to make reno's head do this but I think the problems within the health care industry have gotten so severe drastic action is needed.

you keep using the word privatization, but i'm not sure you know what that means.

[michigancat]

Renocat taking a reno piss on the free market. I've seen it all.

He definitely makes his decisions on a case-by-case basis. Which i think is great.

[renocat]

I ain't going to support any dang crook, no matter what he brands on his butt.  This gouger has been  cited for stock fraud.  Some regulation is needed to protect from the hustlers.  Competition in the marketplace is the first line of price control.

[MakeItRain]

Hence the biggest issue with Obamacare, no price controls.

[slobber]

PRIVATIZE IT!!!


Gonna win 'em all!

[Spracne]

Ouch. BrokenSky is getting kicked in the publics for that mixup.

[ednksu]

Allow us to buy foreign drugs at our own risks.  Competition is better than price control.  Gougers should be put up to ridicule and a special Ovarmit tax put on these companies to penalize them.  Plus hire some illegal trump haters to jam pills up the butt of these greedy ceos.

No goEmawing, but you should look into how international pharma trade actually works.  The only reason why prices better internationally for safe drugs is because of price controls.

[CNS]

Allow us to buy foreign drugs at our own risks.  Competition is better than price control.  Gougers should be put up to ridicule and a special Ovarmit tax put on these companies to penalize them.  Plus hire some illegal trump haters to jam pills up the butt of these greedy ceos.

No goEmawing, but you should look into how international pharma trade actually works.  The only reason why prices better internationally for safe drugs is because of price controls.

And generics.  I bought some meds from Canada that were generic approx 9 yrs ago, that still aren't available as generic in our country.

[ednksu]

Well that is another example of evil big gov controls.  In the US it's pretty much a trust system that rivals the rail and oil systems of the early 20th century.  I mean these companies were just told they couldn't pay off other companies to not produce meds to ensure their production.  It's a terrible system that we are victims of.  If you really want some good hijinks just look at ProAir and it's associated bullshit.
http://www.motherjones.com/kevin-drum/2013/10/heres-why-your-asthma-inhaler-costs-so-damn-much
http://www.nytimes.com/2013/10/13/us/the-soaring-cost-of-a-simple-breath.html?nl=todaysheadlines&emc=edit_th_20131013&_r=1

It's sad that people are just now getting pissed about this guy jacking up price because I've seen it happen with many drugs, although the most memorable one was a 1000% increase instead of 5k%.

[ednksu]

http://www.cbc.ca/m/news/health/u-s-drug-company-sues-canada-for-trying-to-lower-cost-of-700k-a-year-drug-1.3242172
And I would be willing to guarantee that this company is a whole own subsidiary of another large pharma company that was spun off for the sole purpose of protecting this drug.