My Rant; Your Precious Obamacare - Page 6

You are doing a sterling job in repeating the mantra of big pharma!  

Their standard pitch is that high prices are needed to fund R&D and that the American consumers need to be protected from sub-standard and counterfeit medications from abroad. Both have an element of truth but it is not the whole story.

The R&D issue was addressed in the Washington Post article I cited: only 12% of revenues are actually used for R&D, profitability for the sector is one of the highest of any sector in American business and the US consumer is subsidizing the cost of R&D for other countries who are enjoying the benefits of these new medications even as we bear the brunt of the cost.

The quality of medications if consumers are allowed to buy them abroad has an element of truth but, again, the industry tries to muddy the waters. The reality is that our next door neighbor, Canada,  uses the very same medications we do within their healthcare system, made by the same manufacturer, of the same quality. The only real difference is the packaging .......... and, of course, the price.

What is the evidence to support this? How about the well reputed US based National  Bureau of Economic Research ? From the CIPA website:

Yes, the top five medications in Canada costs substantially less than it does in the US and the quality of the medications from pharmacies accredited by the CIPA are 100% authentic. Here is an excerpt from the site:

"A new report, by the prestigious U.S.-based National Bureau of Economic Research confirms that medications sold by online pharmacies accredited by the Canadian International Pharmacy Association (CIPA) are 100 percent authentic. Test results show no difference in drug safety when compared to products from U.S. online pharmacies approved by American verifiers.  The report also indicates that U.S. pharmacies on average charge 52.5 percent more for the same five top-selling brand-name medications."

http://www.cipa.com/

Re the CBO report you cited .......... first thanks for providing it!   Did you read it? You might want to take a closer look at the return of assets for drug companies versus other Fortune 500 companies: the former made DOUBLE the return that the latter made! 
 
Re your comment: "I downright disagree with this statement as uninformed and really, only an opinion: Most countries buy the same drugs from the same companies at a fraction of the cost because these countries will not pay the rapacious prices that the US does."
 
Uninformed and only an opinion? Read the Washington Post article again and see what Gerard Anderson, a reputed researcher, says:
 
“We pay twice as much for brand-name drugs as most other industrialized countries,” Anderson says.
 
If that is not enough then read the National Research Bureau's conclusions cited by CIPA above and on their website. Yes, the term "rapacious" is an opinion but the rest of it is FACT!

The reason why bigpharma gets away with this is the intense lobbying the industry does. Between 1998 and 2012, the industry spent over $2.5 billion substantially more than any other industry. The insurance sector is the next largest at $1.8 billion.

http://www.opensecrets.org/lobby/top.php?showYear=a&indexType=i

Quite honestly, I am puzzled by your defense of the indefensible. It is almost as if having taken a position, you find the need to defend it.  There is factual and anecdotal evidence that many Americans can literally not afford the medications they should take and prices keep going up relentlessly. I'd love to hear what you deem to be a constructive solution to the high cost of prescription medications ........ assuming that you think there is a problem in the first place.

You can have the last word on this subject ........... I have cited specific information and sources to support my position. Anyone following this discussion can come to their own conclusions.

Why? Well, I know some people in the business, and they would not agree with your opinion. I thought it would be fair to present the truth as our Government has studied the issue because of opinions such as yours.

How can something be fixed if the truth and facts are denied?

I am not denying it is a big business or that there are lobbyists in big Pharma who spend tons of money.  

I am just saying your reasonings are not always THE reasons.  And that is not fair to the describe it that way. In my opinion, of course. If you noticed, the R&D side of drugs is likened more to the music industry than insurance, but you won't be coming back to this post any way, because I dared to disagree with any of your points?

OK then, have a nice day!

Our government has studied the issue....LOL
You mean why $2.00 worth of pills cost's $90.00 ?

Your government is bought and paid for, with your own money..

Ever notice how many commercials for drugs you can't get without a doctors prescription list death as one of the side effects ?
Yes R&D, and your the Guinea pig.


Thank you dear for helping me with my spelling....LOL

R & B ????? Rock and Blues.  LMFAO.  Do you mean R & D as in research and development?

9 of 10

SSDD  LMFAO

Edited to add: Good job editing Moons and these are the worse of times and the best of times, it my get worst or it may get better. 9 of 10. Worse or worst you be the judge. LMAO.

There you are.....lol

I knew you were lurking about.

Morning dear.

Hey,

There is an anti-government conspiracy freak holding a little autistic boy in a bunker underground.

Oh well thought you should know, honey.  LMAO.

Actually, I was here early this morning just came back from trimming dog nails, feeding and playing with the dogs.

So, now I am poof gone again, can't waste my time on your dribble.

Your here aren't you?

No matter the guy's politics he is certainly mentally ill is he not?

I would have already used a gas to subdue him.

What's that got to do with Obama care?
Unless he's been turned away at the clinic for lack of insurance.

This article is timely to this discussion I think. And here are some interesting excerpts, that are also facts, according to the Sr. Vice Pres. of development of Boehringer Ingelheim.

Estimating that phase III studies cost from $150 million to $500 million, Baxter, a graduate of Seymour High School, said there is an industry-wide failure rate of 20 percent when the research on a drug reaches that stage.

...Boehringer Ingelheim's Connecticut facility plays a crucial role in the privately owned company's drug development business, in which it could take 10 years to bring a drug to market, according to Fonteyne, a Westport resident who has been with the company since 2003 and in his position for a little over a year.

"When it comes to clinical trials, we're involved in all of them. Sooner or later they (drug development projects) come through here," said Fonteyne, a native of Belgium who has a master's degree in chemical engineering from the University of Brussels and a master's degree in business administration from Carnegie Mellon University.

Read more: http://www.stamfordadvocate.com/news/article/Boehringer-Ingelheim-s-local-CEO-sees-new-4244769.php#ixzz2JrJBQBDI
 

I think what is really being objected to is the FACT that our Government is a major funder in the Research part of the equation. And that is how USA is subsidizing cheaper drugs for the countries who only need to factor manufacturing costs into the pricing of the final product. And if you notice, in the above article it shows clearly how the patent system is like a ticking clock on profits, as far as the originating company is concerned.

 

 

It is all about profits.
And opening new markets through acquired dependency, the prices will rise there too.

And since when are profits bad? LOL ... Acquired dependancy? Yeah, we all want hepatitis C, just to get some drugs. Oh dear, now I have to laugh. It has to be a conspiracy! Like that sci-fi movie where everyone stops eating food and only wants to eat GOOP? 

Moons you are talking BS.  I could say the cost is going to rise... for everything for any reason! And I'd be right, too.