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How to fix drug prices and create some good jobs.

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1 minute ago, sactowndog said:

Sure it does.   The demand curve is vertical because 1) people die or have a severely impaired quality of life and 2) they have no competitive alternatives.   

The companies aren't moving all their scientists and headquarters to the US so they either price equal to Europe or lose patent protection and generics enter the market.   Assuming no price collusion, either outcome constrains prices.   I'm good.

No, you're not getting it. They are going to price Europe equal to us, not the other way around.

We’re all sitting in the dugout. Thinking we should pitch. How you gonna throw a shutout when all you do is bitch.

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22 minutes ago, thelawlorfaithful said:

No, you're not getting it. They are going to price Europe equal to us, not the other way around.

If you think European politicians would allow that result you are fooling yourself or haven't spent much time in Europe.

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11 minutes ago, sactowndog said:

If you think European politicians would allow that result you are fooling yourself or haven't spent much time in Europe.

Then some of them wouldn't get the drugs. Drug companies aren't going to cut prices in half for a market as big ours to keep prices down in market as small as theirs. Some will pay some of the time, others wouldn't. But the company is going to price what the market will bear, and ours is the market that matters.

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We’re all sitting in the dugout. Thinking we should pitch. How you gonna throw a shutout when all you do is bitch.

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This might be a bit off topic from the main topic about markets, but are drugs really that expensive here? Yes I know all new brand name drugs can be rediculous but do they have to be used? Just off the top of my head, all first line diabetic, cardiac, antidepressants drugs are super cheap generics. Metformin, OSU, first gen insulins. Ace inhibitors, beta blockers, CCB, digoxin, statins are all less than 10-12 dollars a month. Most 4 dollars like the drug one poster said he uses to save his life. It's a lot of these doctors insistent on prescribing these new "me-too" drugs that the drug rep just told them about that are keeping pt costs high.

I admit there are maintenance classes that remain expensive like anti psychotics, anti virals (HIV), cytotoxic drugs, and pulmonary inhalers. But if doctors would realize that the new $700 per month insulin-glp1 combo Soliqua doesn't have much, if any, better a1c results than $15 NPH insulin costs should really go down. 

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59 minutes ago, thelawlorfaithful said:

Then some of them wouldn't get the drugs. Drug companies aren't going to cut prices in half for a market as big ours to keep prices down in market as small as theirs. Some will pay some of the time, others wouldn't. But the company is going to price what the market will bear, and ours is the market that matters.

You really don't think the EU countries won't band together?   You think they will be able to abandon the EU market completely?   Hahaha

What will likely happen is a global price will be set.  The Europeans will take the lead in setting it.  

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6 minutes ago, sactowndog said:

You really don't think the EU countries won't band together?   You think they will be able to abandon the EU market completely?   Hahaha

What will likely happen is a global price will be set.  The Europeans will take the lead in setting it.  

What is stopping them from doing it now?

We’re all sitting in the dugout. Thinking we should pitch. How you gonna throw a shutout when all you do is bitch.

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28 minutes ago, Stealthlobo said:

 

This might be a bit off topic from the main topic about markets, but are drugs really that expensive here? Yes I know all new brand name drugs can be rediculous but do they have to be used? Just off the top of my head, all first line diabetic, cardiac, antidepressants drugs are super cheap generics. Metformin, OSU, first gen insulins. Ace inhibitors, beta blockers, CCB, digoxin, statins are all less than 10-12 dollars a month. Most 4 dollars like the drug one poster said he uses to save his life. It's a lot of these doctors insistent on prescribing these new "me-too" drugs that the drug rep just told them about that are keeping pt costs high.

I admit there are maintenance classes that remain expensive like anti psychotics, anti virals (HIV), cytotoxic drugs, and pulmonary inhalers. But if doctors would realize that the new $700 per month insulin-glp1 combo Soliqua doesn't have much, if any, better a1c results than $15 NPH insulin costs should really go down. 

Just a recap.  The issue is a vertical demand curve which requires 2 items to exist.....  

1) an inability of the consumer to decline or opt out.   Such is the case of utilities (you can't opt out of water) and certain classes of pharmaceutical drugs

2) a lack of competition typically due to patents or in some cases small market niches

we are only talking about pricing for drugs that fall into both these categories.   Drugs that don't meet both criteria, the market does a fine job of setting prices.   

 

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