You’re Being Gouged On Medicine You Already Paid For

timothyu · Oct 14, 2021

https://www.dailyposter.com/youre-being-gouged-on-medicine-you-already-paid-for/

dqhall · Oct 14, 2021

timothyu said:
https://www.dailyposter.com/youre-being-gouged-on-medicine-you-already-paid-for/

It was the same when the Republicans were in power, high priced drugs.

Drugs are patented for about 17 years from the time of discovery and patent approval. The company may charge a high price for a drug as the cost to develop a successful drug treatment is high and most drugs do not pass testing. The company paid for the drug research and development, not Washington. When a drug patent expires, then other companies may make cheaper generic versions of the drug.

Some countries have universal healthcare. These governments may subsidize drug costs.

The U.S. government subsidized COVID vaccine development. Anyone may get vaccinated for free.

timothyu · Oct 14, 2021

dqhall said:
Drugs are patented for about 17 years from the time of discovery and patent approval.

And who, if the government paid for the research, should get the patent (oddly enough determined by the NIH)? Should not the original funders get some benefit?

dqhall · Oct 14, 2021

timothyu said:
And who, if the government paid for the research, should get the patent (oddly enough determined by the NIH)? Should not the original funders get some benefit?

Moderna developed a vaccine, not NIH.

timothyu · Oct 14, 2021

dqhall said:
Moderna developed a vaccine, not NIH.

You keep missing the point. Did you read the article?

Pommer · Oct 15, 2021

timothyu said:
You keep missing the point. Did you read the article?

You’re comfortable with the idea of the government holding patents?

timothyu · Oct 15, 2021

Pommer said:
You’re comfortable with the idea of the government holding patents?

Not when they belong to the people who should be rewarded accordingly.

FireDragon76 · Oct 15, 2021

Basic research isn't the same as drug development. The basic research can go into funding many different drugs, not just one product.

dqhall · Oct 15, 2021

timothyu said:
You keep missing the point. Did you read the article?

The NIH did 30-45 years of research and spent $100 billion over a long period of time that contributed to pharma knowledge, then who owns the patents for major blockbuster drugs? Big pharma. The government may own some patents, but industry owns more. The NIH does not hold a patent for the cancer drug Keytruda. The NIH did not discover the COVID pill that is many times more expensive than the vaccines and less effective than Pfizer or Moderna vaccines.

When I was young, the Republicans had a saying, “America, love it or leave it.”

timothyu · Oct 15, 2021

dqhall said:
The government may own some patents, but industry owns more.

It simply says whatever the government funds belongs to the people.

dqhall · Oct 15, 2021

timothyu said:
It simply says whatever the government funds belongs to the people.

Good luck looking for cheap medicine. Merck scientists invented Keytruda, not NIH scientists.

RestoreTheJoy · Oct 16, 2021

timothyu said:
https://www.dailyposter.com/youre-being-gouged-on-medicine-you-already-paid-for/

Well, the article will be disregarded by those who are too partisan to read it for facts:

"A study from the National Academy of Sciences tells that story: The federal government spent $100 billion to subsidize the research on every single one of the 200-plus drugs approved for sale in the United States between 2010 and 2016.

Because we the public invested early in these medicines, we reduced the R&D costs for pharmaceutical companies. Therefore, on the back end, the public should have received some sort of return in the form of affordable prices. After all, we took the initial risk, and we lowered the overhead costs that the drug companies might need to recoup through higher prices. In business terms, the public is the early venture investor in these products, and we deserve a share of the returns when the product proves valuable."

The government should not be in bed with Big Pharma with tax dollars AT ALL. That is merely truth.

Then Americans are totally ripped off on prescription costs for drugs that are far cheaper in other countries. It's a horrendously corrupt system.

https://www.cnbc.com/2019/01/10/why-prescription-drugs-in-the-us-cost-so-much.html

dqhall · Oct 16, 2021

RestoreTheJoy said:
Well, the article will be disregarded by those who are too partisan to read it for facts:

"A study from the National Academy of Sciences tells that story: The federal government spent $100 billion to subsidize the research on every single one of the 200-plus drugs approved for sale in the United States between 2010 and 2016.

Because we the public invested early in these medicines, we reduced the R&D costs for pharmaceutical companies. Therefore, on the back end, the public should have received some sort of return in the form of affordable prices. After all, we took the initial risk, and we lowered the overhead costs that the drug companies might need to recoup through higher prices. In business terms, the public is the early venture investor in these products, and we deserve a share of the returns when the product proves valuable."

The government should not be in bed with Big Pharma with tax dollars AT ALL. That is merely truth.

Then Americans are totally ripped off on prescription costs for drugs that are far cheaper in other countries. It's a horrendously corrupt system.

https://www.cnbc.com/2019/01/10/why-prescription-drugs-in-the-us-cost-so-much.html

Johnson and Johnson has been sued for over $2 billion dollars over traces of asbestos in baby powder.
Johnson & Johnson places talc injury claims in bankruptcy

How many millions did the NIH pay to fund this product? Johnson and Johnson is one of the largest pharmaceutical companies in the world, paying taxes and hiring Americans.

Some of the best selling drugs in America were developed by European drug companies. Ever heard of Roche or Novartis? Their blockbuster drugs are expensive too. Why was the U.S. funding the Wuhan Institute of Virology?

RestoreTheJoy · Oct 17, 2021

dqhall said:
Johnson and Johnson has been sued for over $2 billion dollars over traces of asbestos in baby powder.
Johnson & Johnson places talc injury claims in bankruptcy

How many millions did the NIH pay to fund this product? Johnson and Johnson is one of the largest pharmaceutical companies in the world, paying taxes and hiring Americans.

Some of the best selling drugs in America were developed by European drug companies. Ever heard of Roche or Novartis? Their blockbuster drugs are expensive too. Why was the U.S. funding the Wuhan Institute of Virology?

Stop funding them. I'm pretty tired of the nonstop pushing of insanely expensive lifestyle drugs, preferably for life. We must resist.

Pommer · Oct 17, 2021

RestoreTheJoy said:
Stop funding them. I'm pretty tired of the nonstop pushing of insanely expensive lifestyle drugs, preferably for life. We must resist.

Or choose to have universal healthcare free at the point of service, paid for through taxes?

dqhall · Oct 17, 2021

RestoreTheJoy said:
Stop funding them. I'm pretty tired of the nonstop pushing of insanely expensive lifestyle drugs, preferably for life. We must resist.

Johnson and Johnson invented a COVID vaccine that may save many lives. A COVID hospitalization may cost $10,000 - $40,000, sometimes more as one hospitalization that lasted months cost seven figures. The vaccine reduces hospitalization and death.

You do not have to go to the doctor if you get sick. If they prescribe an expensive drug, you may not want to get the prescription filled. It is up to you.

It is like someone can not afford another aircraft carrier, but the govt. taxed the people and built one anyway. Companies funded drug research and the testing of drugs they developed. The FDA reviewed test results and decided to approve or disapprove of a drug for sale.

ThatRobGuy · Oct 17, 2021

dqhall said:
Drugs are patented for about 17 years from the time of discovery and patent approval. The company may charge a high price for a drug as the cost to develop a successful drug treatment is high and most drugs do not pass testing. The company paid for the drug research and development, not Washington. When a drug patent expires, then other companies may make cheaper generic versions of the drug.

Sometimes it follows that pattern, other times it doesn't.

I'll see if I can go back through my old posts and find it, but there was some controversy surrounding some popular allergy medications, where they were 'prescription-only' during the entire period of the patent (and the cost stayed high), and then just before the patent was about to expire, they lobbied to make the drug OTC and sell it at a fairly cheaper price in order to basically box-out the generic makers right before they were able to enter the market.

I think it may have been claritin, but I'll dig through my old posts.

timothyu · Oct 17, 2021

Pommer said:
Or choose to have universal healthcare free at the point of service, paid for through taxes?

Beats paying for wars to protect the interests of the wealthy

You’re Being Gouged On Medicine You Already Paid For

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