Price Gouging in medicine: $500+ for $1 epipen

RustyShackleford said:
handullz said:
heLiumcLinton said:
Didn't the dude who purchased Wu Tang's album do the same?

Real classless
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I actually listened to him on a few different interviews and he gave reasonable explanations behind his logic.

Plus, he comes off as a dooshey yet likeable dude.
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He comes off as a douche in every interview I have seen him in, and the one where he sort of gives a reasonable explanation he was lying through his teeth. Because he didn't lower prices like he promised

Second the "well I'm not really price gouging the customer, I'm price gouging the insurance companies" is not really a solid excuse to me. Basic economics tells us that insurance companies will just recoup that money from the consumer anyway.

I hate finance dudes like Scumbag Skrill trying to make greed seem less slimy.

The finance industry and the pharmaceutical industry, a match made in economic hell. :smh:
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You ever wonder why Martin Shekreli gave all those interviews only to disappear, whereas most people don't even know the name of Mylan's CEO, much less the fact that she lied about having an MBA to get the position in the first place? I honestly think that whole Shkreli media campaign was his attempt to draw attention to it. It was a poor way to do that, but part of me thinks that he over exaggerated to live up to the villain label.
 
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I understand high prices when a new drug is released but ain't this been around for a minute.
 
thenewjs23 said:
I understand high prices when a new drug is released but ain't this been around for a minute.
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They're charging for the distribution method. I believe the company owns the patent to the epipen. Otherwise, a basic needle and a bottle of Epinephrine would run u $30 max.
 
thenewjs23 said:
I understand high prices when a new drug is released but ain't this been around for a minute.
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The pharmaceutical is filled with companies who hold major monopolies on a various amount of drugs.

That's why they can raise the prices to such ridiculous amounts. If they're the sole market owner of a particular drug, the buyers don't have any option but to go along with their prices.

I'm not sure if patent laws are the same for the US, but over here a pharmaceutical company holds its patents for 25 years.

After those 25 years, the patent is expired and other companies can produce their own versions of that drug at a significantly lower price, known as generic variants. These are given the name of the active ingredient. Valium for example is a branded drug, Diazepam is the name of the active substance and generic variant.

Most of my prescription medications aren't patented anymore and I always ask the doctor to prescribe the generic variants. Ends up saving me quite a bit of money. Honestly a lot of people don't know that and these companies are still finessing the average consumer with their branded drugs even though their patents are expired and much cheaper options are available.
 
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My daughter is highly allergic to any type of bug bite, so we assume she's highly allergic to bee stings (like me).

We've had epipens for years and haven't had to use them, so we keep the expired joints to use just in case. Well, she just started kindergarten so we had to update the prescription. ONE two pack of epipens was $900 and that was with insurance. NINE HUNDRED DOLLARS. We sent her to school without them. Luckily the school nurse was all too familiar with this epipen situation and let us know that they have some there in case of emergencies.

Damn shame what they're doing with this life-saving treatment. A damn shame. And the generic $300 epipen is still ridiculously priced.
 
There is a group of people I would gladly beat to a pulp and take the repercussions. These people joined that group
This world needs a major change
 
superblyTRIFE said:
My daughter is highly allergic to any type of bug bite, so we assume she's highly allergic to bee stings (like me).

We've had epipens for years and haven't had to use them, so we keep the expired joints to use just in case. Well, she just started kindergarten so we had to update the prescription. ONE two pack of epipens was $900 and that was with insurance. NINE HUNDRED DOLLARS. We sent her to school without them. Luckily the school nurse was all too familiar with this epipen situation and let us know that they have some there in case of emergencies.

Damn shame what they're doing with this life-saving treatment. A damn shame. And the generic $300 epipen is still ridiculously priced.
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This really is criminal when companies skyrocket prices like that. Yeah, the goal is for them to make money but this reaches scumbag territory.
 
The real story here is that the company that issued the pen was able to create a direct-to-consumer "generic" version for a insane yet discounted price to make themselves look human, all the while reaping in more profit compared to their main model. Our pharmaceutical system is asinine. 
 
psk2310 said:
This is why we'll never ever see cures for diseases.

The medical & pharmaceutical industries make too much money in treating illnesses rather than curing.
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This is also what's taught to doctors in school indirectly. It's pretty sickening tbh.

Also it's a big issue with out medical system where the insurance companies don't have the pricing power like in Europe with a single payer system. A single payer system would tell them "100 or you can't sell your product to my 400 million consumers". That's one thing Europe and other developed countries have gotten right.

And before anyone tells me American has the best medical system. My rebuttal is yes yes we do if you are very wealthy. It if your middle class or poor we rank in the high 30s to low 40s. Pretty depressing just like our education system.
 
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