Gene363
  • Gene363
  • Herf-A-Holic Topic Starter
10 years ago
Capitalism gone wrong or Not!

The Mylan company CEO is making excuses for for raising the price 400% and talking about discounts for lower income buyers, but nothing about lowering the price. She babbles about insurance causing patients to pay retail, what a crock. The production cost is about $3 per pen.

https://static01.nyt.com/video/players/offsite/index.html?videoId=100000004610924 

http://www.nytimes.com/2016/08/27/business/painted-as-a-villain-mylans-chief-says-shes-no-such-thing.html 

The real root of the problem is the FDA, they have dragged their feet and played fifty questions with other companies trying to market a competing product. As long as they don't have a competitor, it not capitalism and the cause is government inefficiency or willful blocking of a competing product.

The content of the pen is simple, epinephrine (adrenaline) is commonly available and can be administered by a simple injection. There are other existing auto injectors it's just the combination that the FDA needs to approve.

In the video it is crystal clear how business get legislation issued to their business advantage.

Finally, Heather Bresch, chief executive of Mylan is the daughter of a democrat Senator, she might get guidance from her father, but I don't see anything sinister.
DrafterX
10 years ago
well, she did get a 671% raise.... 😟
Gene363
  • Gene363
  • Herf-A-Holic Topic Starter
10 years ago

well, she did get a 671% raise.... 😟

DrafterX wrote:



I am sure, it was all about need, like her discussion of the need for all parents and schools to have their epi pens. Or that word that rhymes with need... 🙄
victor809
10 years ago
Communists...
sd72
10 years ago
I just got replacements for mine and they were $30. Total cost, but they are generic, not sure where the idea is coming from that there's no alternative. The military used to supply a kit with a syringe, and a bottle of epinephrine in neat little case to its members needing them.
dstieger
10 years ago
And yet, we shake our heads and wonder why so many young people were 'Bern-ing'.....too easy to make the leap that capitalism NEEDS regular intervention
Gene363
  • Gene363
  • Herf-A-Holic Topic Starter
10 years ago

I just got replacements for mine and they were $30. Total cost, but they are generic, not sure where the idea is coming from that there's no alternative. The military used to supply a kit with a syringe, and a bottle of epinephrine in neat little case to its members needing them.

sd72 wrote:



If you don't mind, what is the name on the Generic?

https://www.auvi-q.com/ 

As for the net cost to the patient, it depends on where you buy, what your insurance company has negotiated and your out of pocket status. Our last set cost $87.00 and they are out of date, but I keep[ them cool and dark so the expiration date is not as critical.

http://www.wsj.com/articles/anaphylactic-political-shock-1472078239 

Thus EpiPen should be open to generic competition, which cuts prices dramatically for most other old medicines. Competitors have been trying for years to challenge Mylan’s EpiPen franchise with low-cost alternatives—only to become entangled in the Food and Drug Administration’s regulatory afflatus.

Approving a generic copy that is biologically equivalent to a branded drug is simple, but the FDA maintains no clear and consistent principles for generic drug-delivery devices like auto injectors or asthma inhalers. How does a company prove that a generic device is the same as the original product if there are notional differences, even if the differences don’t matter to the end result? In this case, that means immediately injecting a kid in anaphylactic shock with epinephrine—which is not complex medical engineering.

But no company has been able to do so to the FDA’s satisfaction. Last year Sanofi withdrew an EpiPen rival called Auvi-Q that was introduced in 2013, after merely 26 cases in which the device malfunctioned and delivered an inaccurate dose. Though the recall was voluntary and the FDA process is not transparent, such extraordinary actions are never done without agency involvement. This suggests a regulatory motive other than patient safety.

Then in February the FDA rejected Teva’s generic EpiPen application. In June the FDA required a San Diego-based company called Adamis to expand patient trials and reliability studies for still another auto-injector rival.


Gene363
  • Gene363
  • Herf-A-Holic Topic Starter
10 years ago

And yet, we shake our heads and wonder why so many young people were 'Bern-ing'.....too easy to make the leap that capitalism NEEDS regular intervention

dstieger wrote:



You are correct about Bern-ing, but not about capitalism; it isn't capitalism if competitors cannot bring a competing product to market. (See highlighted text post #7 above.)
dstieger
10 years ago
Matters not. Facts have NO place in mainstream political conversations. Did away with them decades ago.
Its all about the optics, baby.
MACS
10 years ago

I just got replacements for mine and they were $30. Total cost, but they are generic, not sure where the idea is coming from that there's no alternative. The military used to supply a kit with a syringe, and a bottle of epinephrine in neat little case to its members needing them.

sd72 wrote:



That was atropine and 2 pam chloride. Used for combating nerve agents. I believe they still have them, but I don't know if they would work for allergic reactions.
MACS
10 years ago

And yet, we shake our heads and wonder why so many young people were 'Bern-ing'.....too easy to make the leap that capitalism NEEDS regular intervention

dstieger wrote:



I get it. I do support capitalism, but I do not support fleecing people because you can. Make a tidy profit, sure... make a killing off of someone else's misfortune (allergies) is wrong. I think most folks feel this way. Which is why we all dislike car salesmen. They take advantage of ignorance for profits' sake.

Lets hope the future leaders of our country can find a balance between supporting capitalism, and ensuring companies do what's right.
victor809
10 years ago
^communist.

Why do you want the terrorists to win?
dstieger
10 years ago
No simple answers.....I'm a laissez-faire sort, but my philosophy presupposes that businesses will naturally have individual and consumer rights in mind to ensure long-term success (and profits.) The age of shareholders and short sighted visions have corrupted the capitalism that I always imagined. I still want less govt in business, but I've lost a lot of faith in business to act appropriately most of the time...I don't have any real answers...just an unbridled enthusiasm to complain about the state of ....well, most everything
victor809
10 years ago

You are correct about Bern-ing, but not about capitalism; it isn't capitalism if competitors cannot bring a competing product to market. (See highlighted text post #7 above.)

Gene363 wrote:



It's capitalism if Mylan met the same stringent FDA requirements which the competitors are seemingly unable to meet at this time.

Notice the part in your highlighted statement where the words "26 cases in which the device malfunctioned and delivered an inaccurate dose". That is the sort of thing that kills a product who's entire job is to deliver an accurate dose. Just because the author put the word "merely" in front of it doesn't mean the FDA considers that few.

More importantly, in this era of rampant litigation, no company would continue forward with a product in which there is evidence they know it is delivering inaccurate dosages on occasion... All it takes is someone to die or get sick from an inaccurate dose of epinephrine and that company will be on the hook for some ridiculous sum... what was the last one, 700million or something asinine like that for one death? The lawyers proved that there had been known issues in clinical trials which were ignored, and Wyeth (or was it Merck?) got nailed.

If you want more drugs cheaper, we as a society have to be ok with some people dying occasionally. Since we are very litigious and very risk averse, both the private companies, and the government agencies are going to make it very challenging to get drugs and medical devices to the market.

You made your bed, now lay in it.
DrafterX
10 years ago
they are one dose pens right..?? so, you're not gonna overdose if it malfunctions... and I understand not enough can be bad too... 😟
gummy jones
10 years ago
this certainly isnt true capitalism

if no one else can bring a product to market without endless regulations then monopolies on products are created



victor809
10 years ago
The original manufacturer had to go through the same regulations. It is the like the FDA was put in place yesterday. Manufacturing quality is constantly monitored by the FDA as well. On first blush this just sounds like communists and liberals like gene and macs whining about their drug costs being too high.
ajerrils
10 years ago
Interesting article. I know they aren't out yet but there are a few who are close. Isn't like people aren't trying bring the prices down.

https://www.statnews.com/2016/07/07/epipen-monopoly-mylan-windgap-medical/ 
rumraider
10 years ago
I think the better question is "is it immoral?" This isnt Air Jordans we're talking about. Law and justice are two very different things.
Gene363
  • Gene363
  • Herf-A-Holic Topic Starter
10 years ago

The original manufacturer had to go through the same regulations. It is the like the FDA was put in place yesterday. Manufacturing quality is constantly monitored by the FDA as well. On first blush this just sounds like communists and liberals like gene and macs whining about their drug costs being too high.

victor809 wrote:



Someone must have stepped in a puddle of urine or perhaps feces. Fear not, no one is trying to replace you.

Funny, I don't recall saying anything about their profits, it's the lack of competition. If you read over what the FDA is doing they have no standard so they are making it up as they go along. Perhaps if the bureaucrats quoted the Bible you might react differently. IDGAF At least the FDA bureaucrats know you are their friend.
Users browsing this topic