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Started By
Message
re: Cost Of Life-Saving EpiPen Injectors Soars To $700 A Set
Posted on 8/22/16 at 3:24 pm to slackster
Posted on 8/22/16 at 3:24 pm to slackster
quote:
Good business to be in if you can crack it.
every businesses dream.
people pay $2 for a coke that is probably less than a few pennies...and it won't save a life
1
Posted on 8/22/16 at 3:34 pm to slackster
Extolling the business virtues of extortion, nice.
Oligarchs manipulating "free" markets is an issue regardless of differences of opinion on why they are able to do so, or how best to fix the problem.
On another note, why should we be surprised that a component of our healthcare system has bad incentives and screwy economics?
Oligarchs manipulating "free" markets is an issue regardless of differences of opinion on why they are able to do so, or how best to fix the problem.
On another note, why should we be surprised that a component of our healthcare system has bad incentives and screwy economics?
Posted on 8/22/16 at 3:39 pm to Topwater Trout
quote:
people pay $2 for a coke that is probably less than a few pennies...and it won't save a life
Exactly.
Apparently the business practices that are acceptable in every other field are abhorrent when applied to pharmaceutical companies. As I mentioned earlier, Mylan operates with less than half the net profit margin of Apple in 2015. In fact, Mylan's 2015 net profit margin is roughly equal to the average net profit margin of the entire S&P 500 in 2014.
Posted on 8/22/16 at 3:43 pm to Cocotheape
quote:
Extolling the business virtues of extortion, nice.
It is one product in an entire portfolio of products. They manufacture more than 294 drugs in the US, the vast majority of which are generics. Those generics are likely supported by the margins on the EpiPen. Lower the prices there and jack them up elsewhere and people will still bitch.
Posted on 8/22/16 at 3:45 pm to slackster
quote:
As I mentioned earlier, Mylan operates with less than half the net profit margin of Apple in 2015.
wow
Yeh its funny what the consumer will pay for stuff like cologne, perfume, mouth wash, etc and freak out over something that will save your life and say its gouging.
Posted on 8/22/16 at 3:46 pm to YipSkiddlyDooo
quote:
A part of me says that it should be up to someone else to come up with an equally idiot proof delivery system (that's really the value in what Mylan owns, not the medication itself)
What makes these pens a better system than all the other auto-injectors out there? I'm not familiar with using an epi pen but my daughter used to be on growth hormone and those injectors were pretty idiot proof. Is it just because they're preloaded?
Posted on 8/22/16 at 4:26 pm to Topwater Trout
quote:
eh its funny what the consumer will pay for stuff like cologne, perfume, mouth wash, etc and freak out over something that will save your life and say its gouging.
Screw the poor. If they want to live they should learn to be rich.
Posted on 8/22/16 at 4:32 pm to chryso
quote:
Screw the poor. If they want to live they should learn to be rich.
I'd they're poor they're not paying $700 for this stuff anyway.
Posted on 8/22/16 at 4:37 pm to Topwater Trout
quote:
so if you have a product that you can sell for $100 and the market says you can sell it for $700 you wouldn't sell it for that?
The "market" is captive?!!
You have something that costs a buck to make, you have people who will die without it, yet you charge $700. you aren't the fricking guy who isolated adrenalin/epinepherine? That guy would be about 150 years old.
you didn't discover some new Cancer medication that has promising results. you have a 100 year old medication, and because everything effective is now generic they've come up with a new ploy. These BigPharm companies conspire to not compete. Why is Viagra not generic? Pfizer literally paid people to not apply for permission to produce. But that is just a boner pill. epi is literally a life or death medication.
Ampules of epinepherine probably cost hospitals pennies. Epi is everywhere in a hospital setting.
This is the WORST example of BigPharm being evil that has ever been. This is worse than the weasel with the HIV med he hiked the price on.
Posted on 8/22/16 at 4:49 pm to LSU alum wannabe
quote:
This is the WORST example of BigPharm being evil that has ever been. This is worse than the weasel with the HIV med he hiked the price on.
What is an acceptable price and why?
Posted on 8/22/16 at 4:51 pm to MSMHater
MSMHater
This is where the answer lies. Difficult for me to believe a generic version has not been developed. Either that or there is something significantly unique to the mfg. of this?
This is where the answer lies. Difficult for me to believe a generic version has not been developed. Either that or there is something significantly unique to the mfg. of this?
Posted on 8/22/16 at 5:01 pm to TitleistProV1X
quote:
Won't really effect the co-pay right? I would think something like this would be about a $25 co-pay on average.
Yeah but how much will it then make insurance go up?
Posted on 8/22/16 at 5:20 pm to ldts
quote:
Yeah but how much will it then make insurance go up
The mark up on an Epipen is the least of your concerns with respect to rising healthcare costs.
Posted on 8/22/16 at 5:26 pm to slackster
quote:
What is an acceptable price and why?
75 bucks. A number that insurance will not bat MUCH of an eye at and the patient only pays a co-pay. Thats acceptable.
What is the right price? 10-20 bucks.
The sky, in a world where an epi pen costs $700, is not blue.
You CANNOT justify it with any practical application on business theory. You say "supply and demand" and I say "collusion" and "sherman anti trust".
Posted on 8/22/16 at 5:31 pm to LSU alum wannabe
quote:
The sky, in a world where an epi pen costs $700, is not blue.
You CANNOT justify it with any practical application on business theory
I've already pointed out that their net profit margin is roughly 9%. Walmart's net profit margin is about 3%.
They make an insane amount of money on an Epipen, but it likely allows them to do quite a bit more elsewhere.
Posted on 8/22/16 at 5:32 pm to LSU alum wannabe
quote:
You say "supply and demand" and I say "collusion" and "sherman anti trust".
If you believe this, the government is the problem here, not the market.
Posted on 8/22/16 at 5:40 pm to larry289
quote:
Difficult for me to believe a generic version has not been developed. Either that or there is something significantly unique to the mfg. of this?
There is!
It is used daily across the country in hospitals. "Epi 0.3cc SubQ". Do you think an ER breaks out an EpiPen. You open an ampule of 1cc draw up 0.3cc TRASH 0.7cc of this "EXPENSIVE" medication and give it.
I don't know how many manufacture epi in ampules and also in premixed injections that are in crash carts. I bet it is more than one. Epinerherine is also mixed with lidocaine in copious amounts, and used to control bleeding while numbing lacerations.
This is ABSOLUTELY what the Federal Government is for, or should be for. To step in with things like this and stop it.
The notion that Mylan is the ONLY manufacturer that can properly prepare EpiPens for public use is beyond absurd. It is a cash grab. If Pfizer rocked the boat with this, then Mylan may go after Viagra and start selling it. I am sure there are several other examples of this.
$700 for an EpiPen though is an over reach. And that is an understatement.
Posted on 8/22/16 at 5:45 pm to slackster
quote:
If you believe this, the government is the problem here, not the market.
If the Gubment doesn't step in, you are right.
Posted on 8/22/16 at 5:48 pm to slackster
quote:
I've already pointed out that their net profit margin is roughly 9%. Walmart's net profit margin is about 3%.
If they have survived solely on gouging this product? frick em. They have further business issues.
Posted on 8/22/16 at 5:54 pm to lsu13lsu
quote:
lsu13lsu
Are you really that stupid?
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