The High Cost of Staying Alive
Aug 26, 2016 11:31:54 #
Before the price increases, the EpiPens were being manufactured at some price and were being sold at a profit. After the price increase the manufacturing cost did not increase, so all of the increase had to be pure profit. Are EpiPens sold outside the United States, are the prices as profitable. What has been learned about health care in other countries is that all have figured out how to take the profit out (and the egregious salaries of the executives). The notion that one man's pain is another man's profit says something about us.
Aug 26, 2016 13:01:48 #
Big Bill
Loc: Phoenix, AZ
John_F wrote:
Before the price increases, the EpiPens were being... (show quote)
"What has been learned about health care in other countries is that all have figured out how to take the profit out..."
No, they haven't.
What they have done is manage health care, not produce it.
Private concerns still make the products, and without profit, those concerns disappear.
In some countries, such concerns have been "nationalized," (Venezuela is the latest example) but the results have been underwhelming. A notable exception has been Cuba, where health care is free and actually pretty good, but the quality of life has been very poor. With current changes, that may change, but it remains to be seen.
Aug 26, 2016 13:38:22 #
wideangle wrote:
It's not the epinephrine that's expensive. It's the delivery system. You can get epinephrine in a syringe style that is much cheaper, but it takes longer to use. It is easier to take the pen and plunge it and get the dose needed. The pen system is what is pricey now, just because they can make it that way.
For what they want for the epipens you could buy a really nice computer and they can't tell me that they have computer comparative technology in those epipens. No matter how you look at it, that company is about lower than whale poo on the scale of social responsibility. I'm all for capitalism, but when capitalism devolves into greed, that is a whole different kettle of fish.
Aug 27, 2016 01:02:22 #
The epi pens became more expensive, because the CEO said so. "Raise the price" was all that was necessary. She admits she is running a business. She wants to raise the price, she can, and did. Simple
Aug 27, 2016 07:55:13 #
jerryc41 wrote:
The price of the EpiPen has risen to the $600 - $7... (show quote)
The price of EpiPen is obscene. It's a generic drug, I wonder what it costs Mylan to make it. They are entitled to turn a profit But there should be limits. I do not want the Gov. to set those limits, but some other company should compete by drastically undercutting Mylan's price.
Aug 27, 2016 09:40:22 #
Big Bill
Loc: Phoenix, AZ
boberic wrote:
The price of EpiPen is obscene. It's a generic drug, I wonder what it costs Mylan to make it. They are entitled to turn a profit But there should be limits. I do not want the Gov. to set those limits, but some other company should compete by drastically undercutting Mylan's price.
You have very neatly described capitalism.
But there are complications. Those who put in the work and money to develop a product should have the opportunity to recapture those costs without someone else coming in and selling the same product without the costs involved. That's where patents come in.
But, obviously, patents can give the holder license to behave like an ass and raise the price of the product far above what is reasonable. In theory, there are remedies, but they are seldom applied.
And when that product is something that is a necessity, such behavior is indeed obscene.
There are websites that deal directly with the problems with patents and trademarks. Some make for some very interesting reading.
Aug 27, 2016 11:55:34 #
Big Bill wrote:
You have very neatly described capitalism. br But ... (show quote)
Maybe I am being a bit naive here, but, aren't there laws against monopolies? I don't know how this woman can go home and sleep and night, KNOWING that she is ripping off the public big time, especially in an area where there should be some sense of social responsibility. There's about a buck's worth of epinephrine in those pens, and how much can it cost to produce the delivery system by the thousands? It certainly doesn't approach $600. I hope she never decides to follow her father's footsteps into public office, as this is a scandal that would defeat her aspirations PDQ when dragged up by her opposition.
Aug 27, 2016 12:07:41 #
Big Bill
Loc: Phoenix, AZ
2Dragons wrote:
Maybe I am being a bit naive here, but, aren't the... (show quote)
A patent isn't intended to be a monopoly in that sense, though is does grant a monopoly to the patent holder. The way around that is to attempt to buy the rights to manufacture from the patent holder, but the holder is under no obligation to grant said rights.
The FTC, IIRC, has jurisdiction concerning monopolies, but a patent holder doesn't qualify.
Patents, of course, expire, and it's amazing how often the original patent holder goes out of business when that happens. Especially, IMO, when that patent holder has abused the privilege.
Aug 27, 2016 12:15:35 #
Big Bill wrote:
Patents, of course, expire, and it's amazing how often the original patent holder goes out of business when that happens. Especially, IMO, when that patent holder has abused the privilege.
From your lips, to God's ears.
Aug 28, 2016 11:39:43 #
This woman is a poster child for the reason the general public dislikes big business. I would think that her company bought the rights to these items with the express intent to blow up the price in the future. Should someone tragically die because of a lack of access to the epi pen I hope the family sues the hell out of them and takes their ill-gotten profits. I hope this lady (and I use the term as a sarcastic slam) enjoys her 19 million dollar yearly salary because I would bet her days are numbered. She will get thrown under the bus to turn around the tarnished public image of the company.
Aug 28, 2016 12:25:08 #
Ront53
Loc: Maryland
foathog wrote:
I believe the CEO's father is the Democratic Senator from WV. And her salary has gone up something like 700% in the last 6 years or so. NOBODY is happy being a lowly millionaire. You MUST be a billionaire.
That company has made a donation to the Clinton Foundation of excess of $100,000. She is he daughter of Joe Manchin, Democrat senator from WVa.
Aug 28, 2016 12:39:12 #
Big Bill wrote:
"What has been learned about health care in o... (show quote)
Big Bill needs to read T. R. Reid's "The Healing of America" to understand what all those other countries actually did.
Aug 28, 2016 14:26:06 #
Big Bill
Loc: Phoenix, AZ
John_F wrote:
Big Bill needs to read T. R. Reid's "The Healing of America" to understand what all those other countries actually did.
I will admit I've not read the book.
Could you give a short review, and tell us where I went wrong?
Aug 28, 2016 18:49:20 #
Aug 28, 2016 20:17:40 #
imntrt1 wrote:
This woman is a poster child for the reason the ge... (show quote)
I wonder how many epipens $19,000,000.00 would buy?
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