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Drug Price Goes from $13.50 to $750 Per Tablet In One Day


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#81 AnBr

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Posted 07 August 2017 - 06:57 PM

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Pray for Trump: Psalm 109:8

"Science is more than a body of knowledge; it is a way of thinking. I have a foreboding of an America in my children's or grandchildren's time - when the United States is a service and information economy; when nearly all the key manufacturing industries have slipped away to other countries; when awesome technological powers arc in the hands of a very few, and no one representing the public interest can even grasp the issues; when the people have lost the ability to set their own agendas or knowledgeably question those in authority; when, clutching our crystals and nervously consulting our horoscopes, our critical faculties in decline, unable to distinguish between what feels good and what's true, we slide, almost without noticing, back into superstition and darkness.

— Carl Sagan
The Demon-Haunted World: Science as a Candle in the Dark
1995


“As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron.”

— H.L. Mencken
On Politics: A Carnival of Buncombe


“The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.”

— Franklin Delano Roosevelt
Second inaugural address January, 1937

#82 LFC

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Posted 17 August 2017 - 05:28 PM

Some transcripts of jurors who were excused from the Martin Shkreli trial were put up by Harpers. The last one is killer.

Quote

The Court: All right. I’m going to excuse you. Juror Number 59, come on up.

Juror No. 59: Your Honor, totally he is guilty and in no way can I let him slide out of anything because —

The Court: Okay. Is that your attitude toward anyone charged with a crime who has not been proven guilty?

Juror No. 59: It’s my attitude toward his entire demeanor, what he has done to people.

The Court: All right. We are going to excuse you, sir.

Juror No. 59: And he disrespected the Wu-Tang Clan.

" 'Individual conscience' means that women only get contraceptives if their employers, their physicians, their pharmacists, their husbands and/or fathers, pastors, and possibly their mayors, Governors, State Secretaries of Health, Congressmen, Senators, and President all agree that in that particular case they're justifiable." --D.C. Sessions

"That's the problem with being implacable foes - no one has any incentive to treat you as anything more than an obstacle to be overcome."

"The 'Road to Serfdom' is really all right turns." --Progressive Whisperer

""The GOP ... where every accusation is also a confession." --Progressive Whisperer

#83 LFC

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Posted 27 October 2017 - 03:06 PM

Trump is protecting all of the Pharma Bros from anti price gouging legislation.

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Members of the Senate are leaning on the Trump administration to stop holding off on implementing a rule that would punish drug makers for price gouging.

The administration has already done so four times, and any further delays would "contradict President Trump’s repeated promises to crack down on unfair drug pricing and [allow] bad actors to continue enriching themselves at the expense of the American public,” a group of Democratic senators, led by Gary Peters of Michigan, wrote in a letter first shared with Newsweek.

The rule would put into place fines against pharmaceutical companies that jack up prices of drugs that are sold as part of the 340B program, which provides discounted medications to hospitals and clinics that serve the poor.

Under 340B, drug manufacturers that participate in Medicaid "agree to provide outpatient drugs to covered entities at significantly reduced prices," according to the Health Resources and Services Administration (HRSA).

The rule that is awaiting implementation predates the Trump administration but was supposed to kick in this year. It would set a $5,000 penalty to a drug company every time it intentionally overcharged a participant in the 340B program.

" 'Individual conscience' means that women only get contraceptives if their employers, their physicians, their pharmacists, their husbands and/or fathers, pastors, and possibly their mayors, Governors, State Secretaries of Health, Congressmen, Senators, and President all agree that in that particular case they're justifiable." --D.C. Sessions

"That's the problem with being implacable foes - no one has any incentive to treat you as anything more than an obstacle to be overcome."

"The 'Road to Serfdom' is really all right turns." --Progressive Whisperer

""The GOP ... where every accusation is also a confession." --Progressive Whisperer

#84 Art_Vandelay

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Posted 05 November 2017 - 07:37 AM

U.S. states allege broad generic drug price-fixing collusion

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WASHINGTON (Reuters) - A large group of U.S. states accused key players in the generic drug industry of a broad price-fixing conspiracy, moving on Tuesday to widen an earlier lawsuit to add many more drugmakers and medicines in an action that sent some company shares tumbling.
The lawsuit, brought by the attorneys general of 45 states and the District of Columbia, accused 18 companies and subsidiaries and named 15 medicines. It also targeted two individual executives: Rajiv Malik, president and executive director of Mylan NV, and Satish Mehta, CEO and managing director of India’s Emcure Pharmaceuticals.

Shares of Pennsylvania-based Mylan, also named as a defendant, closed down 6.6 percent.

The states said the drugmakers and executives divided customers for their drugs among themselves, agreeing that each company would have a certain percentage of the market. The companies sometimes agreed on price increases in advance, the states added.

The states said Malik and Mehta spoke directly to one another to agree on their companies’ shares of the market for a delayed-release version of a common antibiotic, doxycycline hyclate.
“It is our belief that price-fixing is systematic, it is pervasive, and that a culture of collusion exists in the industry,” Connecticut Attorney General George Jepsen, who is leading the case, told a news conference in Hartford.


#85 Bact PhD

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Posted 05 November 2017 - 05:23 PM

View PostArt_Vandelay, on 05 November 2017 - 07:37 AM, said:

A "Not-Like" Like.
Politics these days is show business. Elections are Dancing with the Stars with consequences. ~Rue Bella

(About fame) Living for likes, shares and follows is a form of validation. The question is whether it is also the source of our self esteem. If it is, we’re screwed. And, culturally, it seems as if it’s become more and more our shared value. ... Meringue is no longer a sweet and pretty topping but the body itself. ~Charles Perez

"If a nation expects to be ignorant and free in a state of civilization, it expects what never was and never will be." --Thomas Jefferson to Charles Yancey, 1816. ME 14:384, via LFC, 12/1/2016

Competent people go in one of a few directions. But incompetence is infinite. ~David Brooks, NY Times

#86 LFC

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Posted 06 March 2018 - 02:03 PM

The American face most in need of punching is losing more of his toys.

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Former drug company executive Martin Shkreli may have to give up a Picasso and a one-of-a-kind Wu-Tang Clan album, after a U.S. judge on Monday ordered him to forfeit $7.36 million following his conviction of defrauding investors.

U.S. District Judge Kiyo Matsumoto in Brooklyn said the assets Shkreli could forfeit to satisfy the judgment also include $5 million in a brokerage account and his stake in Vyera Pharmaceuticals, one of the drug companies he founded.

Shkreli is scheduled to be sentenced for securities fraud on Friday.

A lawyer for Shkreli could not immediately be reached for comment on the judge’s order.

Shkreli, 34, has been in jail since September, when Matsumoto revoked his bail after he offered a $5,000 bounty for a strand of Hillary Clinton’s hair in a Facebook post.

" 'Individual conscience' means that women only get contraceptives if their employers, their physicians, their pharmacists, their husbands and/or fathers, pastors, and possibly their mayors, Governors, State Secretaries of Health, Congressmen, Senators, and President all agree that in that particular case they're justifiable." --D.C. Sessions

"That's the problem with being implacable foes - no one has any incentive to treat you as anything more than an obstacle to be overcome."

"The 'Road to Serfdom' is really all right turns." --Progressive Whisperer

""The GOP ... where every accusation is also a confession." --Progressive Whisperer

#87 andydp

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Posted 09 March 2018 - 02:08 PM

Putting a well deserved end to that smirk...

'Pharma Bro' cries in court while apologizing for fraud


https://www.msn.com/...ocid=spartandhp
Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.

Rev Martin Luther King Jr.


Obamacare took my guns away and put me in a FEMA reeducation camp.

Anonymous

If you've got public schools paid for by taxpayers, you're in a socialist nation. If you have public roads paid for by taxpayers, socialist nation. If you've got public defense (police, fire, military, coast guard) paid for by tax dollars, socialist nation. If you're in a nation that has nationalized or localized delivery of services that are not paid for by users alone, you're in a socialist nation- the only question is how socialist. As I see it, we have the military pay to protecting the shipping lanes for our fuel needs which makes up very socialist. In a capitalist nation, the people supplying the oil would pay for their own defense force.


DC Coronata

#88 AnBr

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Posted 12 September 2018 - 09:42 AM

A new pharma bro? Pharma CEO jacks drug price 400%, citing “moral requirement to make money”
Pray for Trump: Psalm 109:8

"Science is more than a body of knowledge; it is a way of thinking. I have a foreboding of an America in my children's or grandchildren's time - when the United States is a service and information economy; when nearly all the key manufacturing industries have slipped away to other countries; when awesome technological powers arc in the hands of a very few, and no one representing the public interest can even grasp the issues; when the people have lost the ability to set their own agendas or knowledgeably question those in authority; when, clutching our crystals and nervously consulting our horoscopes, our critical faculties in decline, unable to distinguish between what feels good and what's true, we slide, almost without noticing, back into superstition and darkness.

— Carl Sagan
The Demon-Haunted World: Science as a Candle in the Dark
1995


“As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron.”

— H.L. Mencken
On Politics: A Carnival of Buncombe


“The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.”

— Franklin Delano Roosevelt
Second inaugural address January, 1937

#89 LFC

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Posted 12 September 2018 - 11:46 AM

View PostAnBr, on 12 September 2018 - 09:42 AM, said:


Sounds like another Ayn Rand acolyte. More proof that an unregulated or lightly regulated healthcare market simply can't work, or at least not for the people who actually need to use healthcare. They are simply hosts to be parasitized.
" 'Individual conscience' means that women only get contraceptives if their employers, their physicians, their pharmacists, their husbands and/or fathers, pastors, and possibly their mayors, Governors, State Secretaries of Health, Congressmen, Senators, and President all agree that in that particular case they're justifiable." --D.C. Sessions

"That's the problem with being implacable foes - no one has any incentive to treat you as anything more than an obstacle to be overcome."

"The 'Road to Serfdom' is really all right turns." --Progressive Whisperer

""The GOP ... where every accusation is also a confession." --Progressive Whisperer

#90 Rich T Bikkies

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Posted 12 September 2018 - 12:39 PM

Can any healthcare market work?

I hesitate to say, on an American blog, that capitalism itself doesn't work. I'll just say it's not God-given. Nor is the Second Amendment.
Reality is a hallucination caused by alcohol deprivation.

Only Satan can rebuke sin. The righteous don't know enough.

God is not dead. He was merely voted out of office.

You can do anything with anybody if you just save them the trouble of thinking.

#91 LFC

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Posted 12 September 2018 - 12:54 PM

View PostRich T Bikkies, on 12 September 2018 - 12:39 PM, said:

Can any healthcare market work?

I hesitate to say, on an American blog, that capitalism itself doesn't work. I'll just say it's not God-given. Nor is the Second Amendment.

We've had these discussions here at TRS before and I think it's safe to say that general consensus is that the desire for you and your loved ones to survive tends to skew the normal consumer market levers just a weeeeeeee bit. If you're choice is to buy a $1,000 phone or a $100 phone then you actually have a choice. If your choice is to risk your kid dying or coughing up $1,000 that you don't really have for an EpiPen then it's not much of a choice. Market forces in healthcare are overwhelmingly on the consumer.

Throw in the fact that somebody who is ill may also be the least capable of performing cost/benefit analysis in one of the most opaque markets in the U.S. and the consumer is truly f***ed.
" 'Individual conscience' means that women only get contraceptives if their employers, their physicians, their pharmacists, their husbands and/or fathers, pastors, and possibly their mayors, Governors, State Secretaries of Health, Congressmen, Senators, and President all agree that in that particular case they're justifiable." --D.C. Sessions

"That's the problem with being implacable foes - no one has any incentive to treat you as anything more than an obstacle to be overcome."

"The 'Road to Serfdom' is really all right turns." --Progressive Whisperer

""The GOP ... where every accusation is also a confession." --Progressive Whisperer

#92 AnBr

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Posted 12 September 2018 - 09:13 PM

This. The profit motive has no business being involved with either anything human services or justice. Capitalism can work very well if strong enough safe guards are in place to counter the worst aspects of human nature. But for the last few decades too many in power took the lesson of Gordon Gekko as a how-to instead of the cautionary tale that it was meant to be.
Pray for Trump: Psalm 109:8

"Science is more than a body of knowledge; it is a way of thinking. I have a foreboding of an America in my children's or grandchildren's time - when the United States is a service and information economy; when nearly all the key manufacturing industries have slipped away to other countries; when awesome technological powers arc in the hands of a very few, and no one representing the public interest can even grasp the issues; when the people have lost the ability to set their own agendas or knowledgeably question those in authority; when, clutching our crystals and nervously consulting our horoscopes, our critical faculties in decline, unable to distinguish between what feels good and what's true, we slide, almost without noticing, back into superstition and darkness.

— Carl Sagan
The Demon-Haunted World: Science as a Candle in the Dark
1995


“As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron.”

— H.L. Mencken
On Politics: A Carnival of Buncombe


“The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.”

— Franklin Delano Roosevelt
Second inaugural address January, 1937

#93 Rich T Bikkies

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Posted 13 September 2018 - 01:50 AM

View PostAnBr, on 12 September 2018 - 09:13 PM, said:

This. The profit motive has no business being involved with either anything human services or justice. Capitalism can work very well if strong enough safe guards are in place to counter the worst aspects of human nature. But for the last few decades too many in power took the lesson of Gordon Gekko as a how-to instead of the cautionary tale that it was meant to be.

Thank you, especially for the sentence in bold. I've often wondered if I'd ever see it put so explicitly on this blog (which, CMIIW, was founded by recovering Republicans? "My name is Jennifer. I'm a Republican"). I accept the following caveat too. Almost any system can work well if the accompanying culture of attitudes and conduct is benevolent.

This is why my hopes for several years were in Jeremy Corbyn. But his guys, Momentum, are now trying to purge moderates from the Labour Party, and his reputation concerning anti-semitism is getting worse by the week. I feel betrayed; not hugely, because I was never anywhere near a disciple, but another possible hope for my country has faded.

Jezza is our Bernie in so many ways. But IMO he's quite a likable chap; I doubt if Bernie ever was.
Reality is a hallucination caused by alcohol deprivation.

Only Satan can rebuke sin. The righteous don't know enough.

God is not dead. He was merely voted out of office.

You can do anything with anybody if you just save them the trouble of thinking.

#94 LFC

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Posted 13 February 2019 - 05:45 PM

Yet another exhibit on the need for government price controls over big pharma.

Quote

Catalyst Pharmaceuticals Inc said on Monday that it expects its drug for a rare disease, which had long been available to patients for free, will cost more than $300,000 per year including rebates to insurers and other discounts.

The drug, Firdapse, is used to treat Lambert-Eaton Myasthenic Syndrome (LEMS), a rare neuromuscular disorder.

U.S. Senator Bernie Sanders sent a letter to Catalyst last week asking the company to justify its pricing.

Florida-based Catalyst, which in November received U.S. approval to sell the drug, set a list price of $375,000 a year.

In a presentation to investors at a conference in New York on Monday, Catalyst said it expects the net price to be between $300,000 and $318,750 a year, which means it sees rebates and other discounts reducing the cost by 15 percent to 20 percent.

In the United States, drugmakers set a list price for their products, but also typically offer after-market rebates and discounts to encourage insurers and pharmacy benefit managers to pay for the drugs. Last month, the Trump administration proposed a rule to end the industry-wide system of rebates, which has been under increased scrutiny.

The Catalyst drug also received orphan drug status from the FDA, which comes with seven years of marketing exclusivity to encourage development of drugs for rare diseases. The agency grants orphan status to medicines that treat conditions or diseases that affect fewer than 200,000 people in the United States.

Catalyst bought the rights to Firdapse from BioMarin Pharmaceuticals in 2012.

" 'Individual conscience' means that women only get contraceptives if their employers, their physicians, their pharmacists, their husbands and/or fathers, pastors, and possibly their mayors, Governors, State Secretaries of Health, Congressmen, Senators, and President all agree that in that particular case they're justifiable." --D.C. Sessions

"That's the problem with being implacable foes - no one has any incentive to treat you as anything more than an obstacle to be overcome."

"The 'Road to Serfdom' is really all right turns." --Progressive Whisperer

""The GOP ... where every accusation is also a confession." --Progressive Whisperer

#95 Bact PhD

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Posted 14 February 2019 - 09:25 AM

View PostLFC, on 13 February 2019 - 05:45 PM, said:

Yet another exhibit on the need for government price controls over big pharma.

Chem PhD mentioned this tidbit to me the other day. “3,4-diaminopyridine?!?? A compound that’s been around at least a century and is ridiculously easy to synthesize?!?? Something that’s on lab shelves in quantity[1]?!?? [the rest is unprintable]”

[1] Even factoring in the markup for GMP compliance.
Politics these days is show business. Elections are Dancing with the Stars with consequences. ~Rue Bella

(About fame) Living for likes, shares and follows is a form of validation. The question is whether it is also the source of our self esteem. If it is, we’re screwed. And, culturally, it seems as if it’s become more and more our shared value. ... Meringue is no longer a sweet and pretty topping but the body itself. ~Charles Perez

"If a nation expects to be ignorant and free in a state of civilization, it expects what never was and never will be." --Thomas Jefferson to Charles Yancey, 1816. ME 14:384, via LFC, 12/1/2016

Competent people go in one of a few directions. But incompetence is infinite. ~David Brooks, NY Times

#96 LFC

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Posted 25 April 2019 - 08:38 AM

House Republicans don't just avoid the drug pricing issue, they actively abet the drug companies. Remember when some numbnuts who has no idea what they're talking about says both parties are in the pocket of Big Pharma.

Quote

Democrat Elijah Cummings chairs the House Oversight Committee, a tough job made tougher by White House stonewalling and by Republicans on the committee trying to torpedo an investigation into prescription drug pricing. Ranking member Jim Jordan of Ohio and his GOP sidekick Mark Meadows sent letters earlier this month to the CEOs of 12 pharmaceutical companies advising them not to cooperate with Cummings’ requests for information, alleging that the chairman would leak the information and tank stock prices.

Jordan and Meadows are the Thelma and Louise of the GOP, driving the party over the cliff. They’ve tried to protect Donald Trump from his former fixer Michael Cohen’s damaging testimony, calling Cohen a liar and echoing White House calls to investigate Hillary Clinton and the origins of the Russia probe. But shielding Big Pharma is another matter. It does not play well with voters, even some Republican ones—something Trump understands, at least rhetorically. He said in his first press conference as president-elect that the drug companies “are getting away with murder,” a charge he periodically repeats to bolster his populist credentials.

He even followed up with a proposal to allow Medicare to negotiate lower prices with pharmaceutical companies, which it currently cannot do, thanks to the enormous sums of money spent by the drug lobby to protect their profits.

Cummings wants to know why the cost of insulin for diabetics has skyrocketed, and the price of drugs to treat multiple sclerosis are rising much faster than inflation. Drug companies spend twice as much money on marketing as on research, while claiming higher prices are essential to bring new lifesaving drugs to the public.

News stories about people having to ration medication because of the cost, or go without and risk death, are shaming the industry and beginning to penetrate the iron curtain of secrecy around drug pricing.

" 'Individual conscience' means that women only get contraceptives if their employers, their physicians, their pharmacists, their husbands and/or fathers, pastors, and possibly their mayors, Governors, State Secretaries of Health, Congressmen, Senators, and President all agree that in that particular case they're justifiable." --D.C. Sessions

"That's the problem with being implacable foes - no one has any incentive to treat you as anything more than an obstacle to be overcome."

"The 'Road to Serfdom' is really all right turns." --Progressive Whisperer

""The GOP ... where every accusation is also a confession." --Progressive Whisperer





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