whatyouwantfinally
Guru
- 457
If R&D is just an excuse, why are you selling insurance? You'll make WAY more developing new drugs. Your no excuses drug company sounds revolutionary.
White House to name first 10 drugs for Medicare negotiations early
- Thread starter Northeast Agent
- Start date
If R&D is just an excuse, why are you selling insurance? You'll make WAY more developing new drugs. Your no excuses drug company sounds revolutionary.
straightnochaser
Guru
- 549
why are you selling insurance? Shilling for Big Pharma is far more lucrative. Maybe you can lobby Congress to keep American seniors paying thousands for drugs that cost less than hundreds elsewhere.
whatyouwantfinally
Guru
- 457
I don't see how I'm supposed to have a serious conversation about this with someone who thinks research and development for drugs isn't a real, significant thing. It's like trying to explain to a 4 year-old why he can't have a swimming pool in his bedroom.
straightnochaser
Guru
- 549
Who said it wasn't a significant thing, all I said is it's an easy excuse for why Americans (and Americans only) get absolutely ripped off.
Let me ask you this.. why do drug companies get to charge significantly more in the US compared to other countries? And why on earth are you advocating for that?
whatyouwantfinally
Guru
- 457
So how much of it is an "excuse"? How significant is R&D in the field? At what point of profitability do you believe $ stops flowing into developing drugs? Do you think profitability has ANY effect on investment? Do you think investment correlates to us getting new drugs that help people?
The same reason other countries don't have to spend as much on defense as we do; they benefit from how much we spend. You can argue THEY should be paying more too, and I might agree, but people who need/benefit from new drugs are who I'm shilling for.[/QUOTE]
UKTX
Super Genius
- 194
Forget the notion of R&D. The government cannot and should not be allowed to confiscate your property and dictate the prices (that are not fair market) that a private company sets for a product that it developed and owns.
I read the full filing by Bristol Myers regarding their Eliquis drug. The example they use in the lawsuit is that it is like you buying a house for 500k then the government says that it is buying it from you for 10k with no recourse.
The government cannot just take and seize personal property, just because they want to, not without adequate compensation. In cases like this you have to be compensated at fair market value. The argument is that forcing to sell it at x price is not fair market and beyond the scope of the government.
IMO, the Government won't win this battle. After I read the suit bought by BMS and what the Government is trying to do, I fully sided with them. This is a massive overstep by the Federal Government. It will be interesting to see how this plays out in court.
I read the full filing by Bristol Myers regarding their Eliquis drug. The example they use in the lawsuit is that it is like you buying a house for 500k then the government says that it is buying it from you for 10k with no recourse.
The government cannot just take and seize personal property, just because they want to, not without adequate compensation. In cases like this you have to be compensated at fair market value. The argument is that forcing to sell it at x price is not fair market and beyond the scope of the government.
IMO, the Government won't win this battle. After I read the suit bought by BMS and what the Government is trying to do, I fully sided with them. This is a massive overstep by the Federal Government. It will be interesting to see how this plays out in court.
I'd buy that argument, if Big Pharma didn't report billions in profits. Big Pharma, Big Oil and Big Banks can cry me a river. Sorry, not buying it. Because of the huge sales volumes associated with prescribed meds, a $100M in R & D works out to $1 per prescription in just the first year alone. The remaining 30 years is just pure money in the bank.
If you believe in the Covid vaccine, then I'm sure you're quite happy that the private market was there to take risk, spend $$$$, and save your ass and millions of others around the world. If private pharm didn't exist, I would be pretty scared to rely on the gov't, who has no capability to just turn on a switch......or produce baby formula god forbid.
And I hope you're not profiting off NVIDIA stock, or anything in the stock market. Otherwise, that's called being a hypocrite if your profiting off companies making profits.
And I hope you're not profiting off NVIDIA stock, or anything in the stock market. Otherwise, that's called being a hypocrite if your profiting off companies making profits.
straightnochaser
Guru
- 549
You mean the covid vaccines that were heavily funded by US Taxpayers to the tune of $31.9bn
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9975718/
UKTX
Super Genius
- 194
So you want to penalize for profit companies and dictate to them what they can and cannot make by seizing their personal property and selling it at a discount just because you want to? That does probably buy votes. But I am not sure its legal.
The problem is everyone has their fingers in the pie: big pharma, insurance carriers, hospitals, physicians etc. All looking to profit, all looking to maximize their earnings at the expense of the end user. Regulation does need to occur, for sure. How we get out of this mess is a golden ticket if you can figure it out.
Similar threads
