3 ms·
Finding ways to make generics super-profitable is definitely common. Turing is, arguably, the ugliest of the bunch, but there's more than enough ugly to go arou
by drzaiusapelord 11y ago
Finding ways to make generics super-profitable is definitely common. Turing is, arguably, the ugliest of the bunch, but there's more than enough ugly to go around. Your mythical "honest and kindly pharma CEO who wants nothing but for everyone to have cheap drugs" doesn't exist. Its Shkreli's all the way down:
http://billmoyers.com/2014/10/06/allow-big-pharma-rip-us/ http://billmoyers.com/2014/10/06/allow-big-pharma-rip-us/
Bill Moyers: For example, last February, before its patent expired on Namenda, its widely used drug to treat Alzheimer’s, Forest Laboratories announced it would stop selling the existing tablet form in favor of new extended-release capsules called Namenda XR.
The capsules were just a reformulated version of the tablet. But even the minor change prevented pharmacists from substituting generic versions of the tablet.
Result: Higher profits for Forest Labs and higher costs for you and me.
Another technique is for drug companies to continue to aggressively advertise prescription brands long after their 20 year patents have expired, so patients ask their doctors for them. Many doctors will comply.
America is one of few advanced nations that allow direct advertising of prescription drugs.
A fourth tactic is for drug companies to pay the makers of generic drugs to delay their cheaper versions. These so-called “pay-for-delay” agreements generate big profits for both the proprietary manufacturers and the generics. But here again, you and I pay. The tactic costs us an estimated $3.5 billion a year.
Europe doesn’t allow these sorts of payoffs, but they’re legal in the United States because the major drug makers and generics have fought off any legislative attempts to stop them.
- FireBeyond 11y ago"America is one of few advanced nations that allow direct advertising of prescription drugs." For one, read "the only". New Zealand was the only hold out (due to a trade agreement), but even there it's now been illegal for several years.
- dennisgorelik 11y ago> pay the makers of generic drugs to delay their cheaper versions Is it even legal? Sounds like monopoly-forming conspiracy to me.
- anigbrowl 11y agoAmerica is one of few advanced nations that allow direct advertising of prescription drugs. To quote some comedian's take on this, 'in my country, your doctor tells you which drugs he wants to prescribe. In America, it's the other way around.' It's astonishing to me that direct-to-consumer pharmaceutical advertising is so rampant here, when somehow we managed to eliminate this for tobacco advertising without causing the 1st amendment to self-destruct. Besides the first-order consequences of medically ignorant consumers besieging their doctors with requests from drugs they can't even pronounce properly, it's also created this bizarre culture where illness is normative and every medical condition has to have a cute nickname or acronym - it can't be long before we start seeing people break up in soap operas because 'I love you...but my hep C isn't compatible with your A-fib!'