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Pensacola Discussion Forum » General Discussion » $3 Billion wasted on unused cancer drugs

$3 Billion wasted on unused cancer drugs

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ZVUGKTUBM
dumpcare
6 posters

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dumpcare



http://www.cnbc.com/2016/03/02/study-3b-will-be-wasted-on-unused-portion-of-cancer-drugs.html

ZVUGKTUBM

ZVUGKTUBM

I'd like to know the actual production costs for the medicines. I bet the actual manufacturing costs are minimal.

I also bet that the research costs fronted to develop many of these drugs were recovered very early at the prices drug companies charge Americans for their use.

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dumpcare



ZVUGKTUBM wrote:I'd like to know the actual production costs for the medicines. I bet the actual manufacturing costs are minimal.

I also bet that the research costs fronted to develop many of these drugs were recovered very early at the prices drug companies charge Americans for their use.

I would imagine if they have a winner after r & d the stock jumps and with this capital pays for the research and manufacturing.

ZVUGKTUBM

ZVUGKTUBM

ppaca wrote:I would imagine if they have a winner after r & d the stock jumps and with this capital pays for the research and manufacturing.

You are probably right..... Highway robbery.

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Markle

Markle

ppaca wrote:
ZVUGKTUBM wrote:I'd like to know the actual production costs for the medicines. I bet the actual manufacturing costs are minimal.

I also bet that the research costs fronted to develop many of these drugs were recovered very early at the prices drug companies charge Americans for their use.

I would imagine if they have a winner after r & d the stock jumps and with this capital pays for the research and manufacturing.

Are you saying that you believe that when a stock price jumps from $50.00 a share to $60.00 a share, the $10.00 a share jumps into the pocket of the corporation?

Really?

In addition, how do they pay for the five, or however many, drugs that fail before one that succeeds?

It is a high-risk business which merits high returns. It is really simply business and investment common sense.


Markle

Markle

ZVUGKTUBM wrote:
ppaca wrote:I would imagine if they have a winner after r & d the stock jumps and with this capital pays for the research and manufacturing.

You are probably right..... Highway robbery.

How, specifically, does that work. Or are you that uninformed on that topic as well.

Here we have Progressives BOLDLY proclaiming they are totally ignorant as to how the stock market and, by extension, capitalism, works.

Why or how?

knothead

knothead

Markle wrote:
ZVUGKTUBM wrote:
ppaca wrote:I would imagine if they have a winner after r & d the stock jumps and with this capital pays for the research and manufacturing.

You are probably right..... Highway robbery.

How, specifically, does that work.  Or are you that uninformed on that topic as well.

Here we have Progressives BOLDLY proclaiming they are totally ignorant as to how the stock market and, by extension, capitalism, works.

Why or how?

Mr. Markle, speaking for myself I understand capitalism. What is exploited is the consumer . . . . . while capitalism is necessary in a free society the capitalistic system has always fallen prey to one of the basest instincts of humans . . . . . greed. We can only look at the recent case where a young man was CEO of a drug firm making a basic drug and I don't remember the name of the drug but he increased its price 20 fold . . . . for no other reason than to exploit the consumer. While that is an extreme I suspect that it is a basic tenet of capitalism . . . . . maximize profits to make the shareholders happy . . . . there are consequences to the exploitation that has been commonplace for a very long time. Theoretically this stimulates competition but capitalism has its share of good points as well as bad points. Wish Boards were here to school both of us as he is extremely informed on these issues, certainly more than I.

ZVUGKTUBM

ZVUGKTUBM

knothead wrote:
Markle wrote:
ZVUGKTUBM wrote:
ppaca wrote:I would imagine if they have a winner after r & d the stock jumps and with this capital pays for the research and manufacturing.

You are probably right..... Highway robbery.

How, specifically, does that work.  Or are you that uninformed on that topic as well.

Here we have Progressives BOLDLY proclaiming they are totally ignorant as to how the stock market and, by extension, capitalism, works.

Why or how?

Mr. Markle, speaking for myself I understand capitalism. What is exploited is the consumer . . . . . while capitalism is necessary in a free society the capitalistic system has always fallen prey to one of the basest instincts of humans . . . . . greed.  We can only look at the recent case where a young man was CEO of a drug firm making a basic drug and I don't remember the name of the drug but he increased its price 20 fold . . . . for no other reason than to exploit the consumer.  While that is an extreme I suspect that it is a basic tenet of capitalism . . . . . maximize profits to make the shareholders happy . . . . there are consequences to the exploitation that has been commonplace for a very long time. Theoretically this stimulates competition but capitalism has its share of good points as well as bad points. Wish Boards were here to school both of us as he is extremely informed on these issues, certainly more than I.  

The exploitation is what is pushing America closer towards following the European model for medicine (the rest of the civilized world, really). It is only a matter of time. It will give Markle and his fellow propagandists fits, but it the inevitability for this is real.

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2seaoat



My cancer had a breakthrough by pure science in Sweden. The scientist using a virus killed endocrine cancer in mice. They did not patent their process, and got private donations of three million dollars to go to phase 2 studies at Baylor university. Most of the cutting edge research is happening in those socialized European health systems. It is amazing in my cancer how NOTHING new is coming out of the US, yet everything is coming out of Europe, but when only one in a thousand cancers are endocrine.....Big pharm could care less. Our medical system which was so innovative and effective in the fifties, sixties, seventies, started to see big profits and corporations start to take over this system of innovation and patent profit rather than science.......it is not by accident the Europeans are kicking butt.......I might add socialized and effective health care in Europe.

Hospital Bob

Hospital Bob

My friend who was diagnosed with T Cell Lymphoma has had two treatments of a 4 hour IV.  It's a drug which is given to him to restore his ability to make blood.
His wife got the paperwork yesterday which revealed what the hospital is charging for each IV treatment.   $21,000 each.  He will receive four treatments and the hospital will bill that at $84,000. 
No the hospital won't get that amount because the insurance company will pay a negotiated price less than that.   But let's say it's half of the billed amount.
That still means each IV treatment will cost $10,000 making the four treatments cost $40,000.

As I've said for years,  it doesn't matter if it's the government or private businesses providing the medical care,  unless something is ever done to control the prices the whole thing will go bankrupt and then very few of us will have medical care after that.

2seaoat



The costs of these medicines are mind blowing. I had a friend who was a heavy smoker 12 years ago he was diagnosed with terminal lung issues. He was put on a study and was not the placebo and he outlived his expectancy by about four years, but here is the kicker. He at the time had a lifetime limit on his medical coverage, and after the study , the FDA approved the drug and the SOB's made him pay for it which was off the wall expensive because it was effective and they had to recoup their research. Well with only about two months of benefits left, he died. He lived almost six years beyond what the doctors originally told him and he used to laugh that he better die soon because his benefits were going to run out. Now with no limits, and the drug companies working in my opinion not on cures, but ways to turn cancer into a chronic disease which gets treated over longer periods of time and more profit for Big Pharm. I have zero faith that they are working on cures and have complete faith that the Europeans will cure cancer, as American big pharm works on obscene profits.

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