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Started By
Message
re: Turing’s Martin Shkreli regrets 5,000% price hike—says it wasn’t high enough
Posted on 12/5/15 at 11:56 am to Cosmo
Posted on 12/5/15 at 11:56 am to Cosmo
quote:
I wouldnt want to be a shareholder in the company selling it for $1
Gonna cost millions to set up the process of making the drug. And there is a very limited market for it. Not everybody with HIV needs the drug.
So they are spending millions for a public relations campaign basically
What makes you think that? I'm sure the company is already established in making other generic medications, so at that point it's just different pill formulations. Do you think they're pricing it to lose money? I think not.
0
Posted on 12/5/15 at 11:58 am to jeff5891
quote:
did I quote anything about capitalism from your post?
Then your response was out of context to what I was pointing out. I was countering the stupid statement in the OP.
quote:
I countered your statement that a drug had been introduced when it is in fact not available
You are REALLY nitpicking words here.
My argument is that Capitalism worked because someone looked into making an alternative since the hike whereas before this drug existed for years without anyone doing so. None of what you are arguing with me about changes the fact that Capitalism is in fact working here and the market for this drug will correct itself.
Posted on 12/5/15 at 11:59 am to CaptainJ47
AIDS is not the only condition that causes a compromised immune system. So no, not everyone that needs the drug "took risks" to end up that way.
This post was edited on 12/5/15 at 12:00 pm
Posted on 12/5/15 at 12:00 pm to Cosmo
You don't seem to understand how drugs are made. With this drug being so old this company probably made it in generic form before and is just restarting production. It is a batch process and they probably already make pills at their current facility.
Posted on 12/5/15 at 12:02 pm to steeltiger17
quote:
Daraprim is a 62-year old drug
for those wanting to know how long the company making it for a $1 a pill can operate at that cost, well, considering the drugs age, i'm sure is very, very, very, very cheap to make....
there are drugs that are now available in generic form that have only been around for about half that time that cost me literally pennies to keep in stock on a cost per pill basis... something that old doesn't require advanced dosage forms, or high tech prep procedures, like some of the newer meds...
and the company, whoever they are, i'm 100% sure has a vast line up of other meds that, even if they are taking a loss on this one medication, (which they probably aren't, like i pointed out before), are making them insane amounts of money regardless...
Posted on 12/5/15 at 12:07 pm to steeltiger17
This guys not broke yet? I hope everyone buys the alternative. frick him.
Posted on 12/5/15 at 12:08 pm to chRxis
quote:
as a pharmacist, i hate people like him... straight up hate how pharmaceutical companies operate.... its sad.. it really is...
If it weren't for the pharmaceutical companies, what would you sell?? If the pharmaceutical companies can't make money off the drugs they research and produce, they aren't put the money in research. Still a lot of bad diseases out there that need cures. (Stupidity being one, but sadly no cure for that on the horizon)
Is your pharmacy for-profit or do you work for free??
Posted on 12/5/15 at 12:08 pm to John88
quote:
I hope everyone buys the alternative
i can guarantee you 1000% we will....
and by "we" i mean every pharmacy known to fricking man...
This post was edited on 12/5/15 at 12:09 pm
Posted on 12/5/15 at 12:12 pm to steeltiger17
KBIO stock was at .26 two weeks ago, yesterday it closed at $31.13!! Mainly because of his involvement. A lot of people made A LOT of money!! If you bought $1,000 two weeks ago it's now worth $120,000
Posted on 12/5/15 at 12:13 pm to stout
quote:your argument is that capitalism worked bc someone looked into an alternative? lololol
My argument is that Capitalism worked because someone looked into making an alternative since the hike whereas before this drug existed for years without anyone doing so.
it will be shown to work when there is an actual alt introduced into the market
Posted on 12/5/15 at 12:13 pm to Kafka
And the $1 a pill company is RXMD
This post was edited on 12/5/15 at 12:14 pm
Posted on 12/5/15 at 12:15 pm to HaveMercy
It's a 62 year old drug, not some new release drug. I don't think most people take issue with a company being rewarded for their R&D. This was just an opportunity to temporarily exploit by grossly overpricing, and then the CEO comes out and says as much. You can champion capitalism and still take issue with situations like this.
Posted on 12/5/15 at 12:19 pm to stout
quote:i was more of clarifying what you and a few others had stated earlier in the tread that an alternative had been created, introduced, whatever.
You are REALLY nitpicking words here.
quote:also, i dont know why anyone is saying that when there is no competitive alternative being sold yet
the fact that Capitalism is in fact working here
This post was edited on 12/5/15 at 12:21 pm
Posted on 12/5/15 at 12:21 pm to steeltiger17
quote:
it will be shown to work when there is an actual alt introduced into the market
It's available in compound form already.
quote:
San Diego, CA-based Imprimis ($IMMY) says it will offer a compounded drug that includes Daraprim's active ingredient--pyrimethamine--in capsules starting at $99 for a 100-count bottle. The company is also starting a program to work with payers, pharmacy benefits managers and purchasing groups to offer patient-specific formulations "at prices that ensure accessibility."
quote:
To be sure, the FDA has not approved Imprimis’ compounded drug formulations as a recommended treatment for toxoplasmosis.
But doctors can prescribe the medications for individuals when they perceive it to be a viable alternative treatment.
The Imprimis oral capsules — which are customized formulations of its pyrimethamine and leucovorin treatments — will be offered starting at $99 for a 100-count bottle.
And your original statement is still moronic. The fact that this drug sat stagnant for 62 years and an alternative was only thought about when the price hike went through proves capitalism is working. Not sure how else you can look at it.
Posted on 12/5/15 at 12:23 pm to jeff5891
quote:
also, i dont know why anyone is saying that when there is no competitive alternative being sold yet
You can get it in compound form right now
quote:
To be sure, the FDA has not approved Imprimis’ compounded drug formulations as a recommended treatment for toxoplasmosis.
But doctors can prescribe the medications for individuals when they perceive it to be a viable alternative treatment.
The Imprimis oral capsules — which are customized formulations of its pyrimethamine and leucovorin treatments — will be offered starting at $99 for a 100-count bottle.
Posted on 12/5/15 at 12:27 pm to HaveMercy
quote:
If the pharmaceutical companies can't make money off the drugs they research and produce, they aren't put the money in research.
There is a massive difference between making profits and price gouging just because you can.
Posted on 12/5/15 at 12:32 pm to Kafka
quote:Smart money says that $1-per-pill amnufacturer will raise their rates in 6-8 months... no way he would stay rock bottom when there's 648 whole numbers between that and your primary competition that you could set the price...
From your link:
quote:
quote:
Earlier this week, a pharmaceutical drug manager announced that it would promote the distribution of a $1-per-pill alternative to Daraprim
somebody sees an opportunity and creates a product
I mean, that's the definition of Capitalism... why charge $1 when you could charge $2... why $2 when $350 is still far less that the competition?
Posted on 12/5/15 at 12:33 pm to TechDawg2007
quote:
KBIO stock was at .26 two weeks ago, yesterday it closed at $31.13!! Mainly because of his involvement. A lot of people made A LOT of money!! If you bought $1,000 two weeks ago it's now worth $120,000
shite
Posted on 12/5/15 at 12:35 pm to steeltiger17
quote:
Sometimes capitalism gets things wrong
This is what's wrong with America today.
Posted on 12/5/15 at 12:37 pm to stout
exactly, capitalism works, it fails when people step in and try to regulate things
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