Pharma says high prices fund drug development: This study says otherwise

When the reader sees headlines like the one above they should beware.

 

Questions to be asked?

Who funded the research?

Is it an organization that abhors profit?

Does it consider that major U.S. Pharmaceutical companies sell their products to poor countries for dimes on the dollar? (Source)

Did it factor in the cost of malpractice insurance paid by the manufacturer, in the most litigious country in the world? (Source)

Did the study factor in the cost to the health care system of an unmet medical need had the pharmaceutical not been available?

Of course not. Caveat emptor!

It became clear to me after putting this article together and sourcing it that Market Watch has a vested interested in ripping the Pharmaceutical Industry.

They can sell positions in the companies as they like.

 

 For some companies, a top-selling product can generate as much in revenue as the company’s entire global research budget
 
Getty Images
A new report from Memorial Sloan-Kettering researchers finds that U.S. drug prices bring in ‘substantially’ more revenue than companies’ research and development costs

 

Market Watch

ByEmmaCourt

March 8, 2016

U.S. drug prices, which are notoriously higher than in other countries, generate “substantially” more revenue for companies than their research and development costs, according to a new report published in the journal Health Affairs. (Source)

To the contrary, the findings were not reported in a peer review journal but a blog.(Source)

In 2015, higher U.S. prices generated $116 billion in revenue compared with the $76 billion spent on research and development worldwide.

“This finding counters the claim that the higher prices paid by U.S. patients and taxpayers are necessary to fund research and development,” the Memorial Sloan Kettering Cancer Center researchers wrote. “Rather, there are billions of dollars left over even after worldwide research budgets are covered.”

Pharmaceutical manufacturers often defend the high, and growing, cost of their medications by pointing to the high risk involved in drug development.

They are deceitfully referring to the price gouging of the EpiPen. (Source)

A study by the Tufts Center for the Study of Drug Development, which is funded in part by industry, found that research and development costs on average $2.9 billion per new drug — a figure frequently invoked by drugmakers.

Big pharma won’t stop raising prices in 2017 — it’ll just do it smarter. (Source)

The report, published Tuesday, could be an important counterweight to those industry figures.

President Donald Trump has criticized drug prices several times, saying on Tuesday that he was working on a new system to increase industry competition, but it’s unclear what his approach would be.

” Investors have stopped believing Trump’s drug price threats” (Source)

See the entire article below.

 

 House Republicans unveiled their health-care plan to replace the Affordable Care Act on Monday night. WSJ’s Gerald F. Seib explores some of the key criticisms coming from conservatives and liberals on issues raised by the new proposal. Photo: AP

The analysis focused on the 20 top-selling U.S. drugs, which are sold by 15 companies, including AbbVie Inc. PFE, -0.12% Amgen Inc. AMGN, +0.47% AstraZeneca PLC AZN, -0.19% Biogen Inc. BIIB, +0.39% Bristol-Myers Squibb Co. BMY, +1.45% Gilead Sciences Inc. GILD, +0.81% Johnson & Johnson JNJ, +0.21% Merck & Co. Inc. MRK, -0.04%  and Pfizer Inc. PFE, -0.12%

The researchers compared the U.S. prices of those drugs, including an estimated level of discounts and rebates that drug companies provide, to prices in Canada, Denmark, Ireland and the United Kingdom.

 

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About JCscuba

I am firmly devoted to bringing you the truth and the stories that the mainstream media ignores. Together we can restore our constitutional republic to what the founding fathers envisioned and fight back against the progressive movement. Obama nearly destroyed our country economically, militarily coupled with his racism he set us further on the march to becoming a Socialist State. Now it's up to President Trump to restore America to prominence. Republicans who refuse to go along with most of his agenda RINOs must be forced to walk the plank, they are RINOs and little else.
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6 Responses to Pharma says high prices fund drug development: This study says otherwise

  1. GG says:

    I have a friend with SEVERE, crippling, RA and even with insurance, can’t afford any of the prescription drugs that help RA patients, Enbrel, Humira.. think there’s a new one.. The copay with good insurance is close to $2,000/month.
    MOST ppl can’t afford that, so
    suffer with pain.. Who hasn’t been in the hospital or had friend or loved on in for something.. You
    can’t take your own meds like Tylenol..
    have to take one from the nurse and be charged $20 per caplet.. Every little thing has an inflated price.. i assume to offset the indecent care population? Pure insanity, as are some of the
    therapies they auto-place on patients..
    When I had hip
    replacement 3 years ago, I learned what a “occupational therapist” is.. TOTAL BS!!! The first day the OT
    came into my room to show me how to use a teacher (hard to believe they
    do this with a straight face), use sock aid, what they could hand someone on a sheet of paper and let them
    read.. Instead charge EXHORBITANT (as in several hundred $$$) to visit the room daily to see if patient is able to perform common sense tasks … I told her not to
    come back after the first day, I was already using everythingnshe sugfested b/c had
    been living with pain for 4 years, too chicken to
    get hips replaced.
    Nothing but a
    rip off
    and same with physical therapist who makes
    like $600-$700 just to make sure you get up and walk down the hall.. I’m not exaggerating on the price.. I couldn’t believe when I saw EOB
    what the hospital
    charged my insurance at the time!!! No wonder premiums
    and access to healthcare costs body parts!!!!!
    Everything in the patient room
    and OR is inflated HUGELY!!!! for insurance billing..
    Since our
    family is in the
    can financially… I just don’t go to the Dr.. Can no longer see my Drs., or afford decent healthcare or premiums.. Copays
    never go away, even after deductible.. Everything has copay.. lots of $$$.
    A veteran & survivalist told me
    a couple of years to stock up on any medications when prepping.. My Drs
    wouldn’t write 3 mos. Prescriptions.. That seems to be law since govt. started dictating what Drs. can and can’t prescribe for patients.. To have on hand, my friend said keep antibiotics just in case SHTF, medicines will short supply or unavailable..
    He said to buy “Fishnet antibiotics” (don’t laugh)
    if Dr. won’t prescribe a supply to have on hand.. I read online, before I
    felt comfortable trusting this to be true.. and did
    order some.. They’re
    supposedly the exact same pills/tablets/whatever, as human grade.. but cannot be marketed as such.. No prescription necessary.. About the same as a Dr.
    visit.. , cheaper if you figure
    paying for the visit and prescription. I only bought one bottle of the broad spectrum drug…
    And only used when I was positive, I needed it..
    It worked! just like I’d taken it before.. and I didn’t blow bubbles out my arse either! Ha!
    Americans are
    fitting the bill for medicines for the world.. Long ago, when I went to Mexico, same drugs
    we have here
    we’re OTC, and inexpensive.. I hear the
    same is still
    true..

    Like

    • JCscuba says:

      Most major manufacturers make the medicines available for free to those with true hardship on the request of their physician. So what you are saying is you would prefer, less innovation and fewer drug? You can’t have it both ways.
      If you had checked my sources, I noted that the article was not from a peer review article meaning it was relevant, it was from a blog with and obvious hard on it needs to stick in meat grinder.

      Liked by 1 person

    • JCscuba says:

      Yes the med’s produced by ethical drug companies have the same content. Do you know your vet isn’t going the cheapest way as in buying from China or elsewhere in the free world?

      Do you know why oral meds aren’t sterile? Because the mouth is filled with far more bacteria.

      Like

  2. GG says:

    Uh oh… guilty again of not
    proof
    reading… and my iphone switched words.. !!!
    Indigent care!!!!! not indecent! Hahahahaha!
    and OT wanted to show how
    to use a “reacher,” not teacher! Bwaahahahahaaha. Maybe more!!! apologies to
    anyone who read thru
    the novel!

    Like

  3. GG says:

    The RA meds aren’t for me, for a friend. I’ve tried and tried to get him to appeal to his insurance company via his Dr., but ya know what they say. about leading horses to water…?
    If it was me, I’d have walked on broken glass to get it.. somehow..
    Living with pain is NOT something I enjoy.
    Thanks for
    your professional input Dr. Campbell. 😉

    Like

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