The Suddenly $750 Pill

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johnfajardohenry
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Re: The Suddenly $750 Pill

Postby johnfajardohenry » Sun Jul 02, 2017 4:17 pm

penquin wrote:Have heard it said that for 90% of all PhramaCompanies advertising is a much bigger part of their budget than R&D. How much would drug costs in the US drop if it wasn't legal for prescription drugs to be advertised/marketed to non-physicians?

If someone needs to have a note from another adult in order to get a product, then why should those companies be allowed to advertise directly to the public?


Good point. One of the things I learned from the Roberts/Feldman broadcast on generics was that the US and NZ are the only 2 countries in the world which permit it.

I knew it was a lot or most countries. I did not realize it was all but 2.

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Re: The Suddenly $750 Pill

Postby johnfajardohenry » Sun Jul 02, 2017 4:39 pm

Russ Roberts has been doing the weekly Econtalk podcast for 11 years now and often has pretty interesting guests.

One of the best in a long time was this week's episode with Robin Feldman talking about her new book Drug Wars: How Big Pharma Raises Prices and Keeps Generics off the Market

Ms Feldman is a law professor specializing in patent, IP and related law. The book looks at how the Brand (as she terms them) drug companies use patent law and FDA regulation to keep generics off the market.

For example, when a patent expires, the first generic company to file gets 6 months exclusivity via the FDA. The exclusivity begins when the drug goes on sale and Brands pay the generic company not to go into production. They can string the process out for years, preventing other generics from being approved.

Or, since to get approval, the generic company has to prove equivalence to the brand product. The brand companies often refuse to sell sample product to the generic. The generic may not even be able to get sample product, required to prove equivalence, through 3rd parties.

Or, as a patent is coming up for expiration, the Brand will file a "citizens petition" asking that a generic not be approved. Doesn't matter whether it is a good or bad reason, it holds up approval for 5 months. Then they file another.

On the other hand, even with the shenanigans, generics have been taking a big bite out of the market. Feldman says it is up to about 80% of all pharmaceuticals sold in the US. I think she said it was 30-40% in 1980 or so. So a bit of bright news.

Lots of other good stuff in the podcast. The book comes out the end of the month. It's on my list.

The book is here http://amzn.to/2tfpLRb

The Podcast is here http://www.econtalk.org/archives/2017/0 ... ation.html

John Henry

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Re: The Suddenly $750 Pill

Postby johnfajardohenry » Sun Jul 02, 2017 4:44 pm

Jonny,

Are you still having trouble with ragweed? If so, I'll be happy to sell you a bottle of homeopathic medicine for it.

Send $20 to me at PO Box 1128, Fajardo PR 00738 and a mailing address and I'll get it right out. What I am offering is dehydrated. Just add water.

John Henry

penquin
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Re: The Suddenly $750 Pill

Postby penquin » Sat Jul 15, 2017 12:36 am

johnfajardohenry wrote:Good point. One of the things I learned from the Roberts/Feldman broadcast on generics was that the US and NZ are the only 2 countries in the world which permit it.

I knew it was a lot or most countries. I did not realize it was all but 2.


Wasn't aware of that. (tho, a quick-fact check shows that technically it is the only two developed countries...so I'll be sure to say it as such when the subject is discussed)

Thanks for sharing.

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Re: The Suddenly $750 Pill

Postby johnfajardohenry » Sun Jul 23, 2017 11:49 am

penquin wrote:Wasn't aware of that. (tho, a quick-fact check shows that technically it is the only two developed countries...so I'll be sure to say it as such when the subject is discussed)

Thanks for sharing.


Feldman's book just became available on Kindle last week and I immediately downloaded the sample, mostly the intro and 1st chapter.

Looks even better than I thought it would be from the podcast and I will be buying the whole thing in a week or two when I finish my current book.

Re the advertising, I figured you were right, Penguin, and that she had either not been clear in the podcast or I had not heard it clearly. However, in the book she is pretty explicit:

The United States and New Zealand are the only two countries in the world that permit direct-to-consumer advertising,...


There is a footnote which I can't see and she does promise to talk about it more. I believe that she thinks advertising keeps prices high, though that seems a bit counterintuitive to me. I look forward to reading the whole thing and will likely have some comments when I do.

Developed world or whole world, it is probably nitpicking. She does seem like she is going to have a lot to say about how pharmcos selectively price their drugs by country, especially to lesser developed countries. She mentions how Gilead sells their Hepatitus drug Sovaldi in Egypt for $900 and in the US for $84,000. As part of the deal, Egypt maintains very strict controls over distribution and dispensing to avoid leakage to other markets.

I suspect that the $900 covers Gilead's marginal cost but comes nowhere near covering actual cost. Hopefully she will go into this.

John Henry

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Re: The Suddenly $750 Pill

Postby johnfajardohenry » Sun Jul 23, 2017 11:58 am

I watch very little TV for the past 8-10 years. The few shows I do want to watch, I buy episode by episode from Amazon and watch while riding my bike.

While traveling last week, I was forced to when my wife watched in the room. Two things that struck me and made me realize how little I was missing:

1) In the evening, it seemed like there was a pharma ad ever 3 minutes. Almost to the exclusion of anything else. If President Trump really wants to screw with the media's rice bowl, ban pharma ads by executive order.

2) Lots and lots of judge shows. Judge Judy, of course, but probably 8-10 other ones. In the daytime it felt like all judges all the time.

John Henry

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Re: The Suddenly $750 Pill

Postby Ducatista » Fri Aug 04, 2017 2:08 pm


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Re: The Suddenly $750 Pill

Postby HawkHead » Fri Aug 04, 2017 2:10 pm

Ducatista wrote:Suck it, Shkreli. 'Pharma Bro' Shkreli is convicted at securities fraud trial — AP News.

Dang, you beat me to it.

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Re: The Suddenly $750 Pill

Postby jman111 » Fri Aug 04, 2017 2:25 pm

This makes my day.

gargantua
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Re: The Suddenly $750 Pill

Postby gargantua » Fri Aug 04, 2017 4:36 pm

Ducatista wrote:Suck it, Shkreli. 'Pharma Bro' Shkreli is convicted at securities fraud trial — AP News.

Maybe his sentence will wipe that oily smirk off his face. I can only hope.

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Re: The Suddenly $750 Pill

Postby DCB » Thu Aug 17, 2017 1:49 pm

Jury selection is not going well
Juror no. 1: I’m aware of the defendant and I hate him.

benjamin brafman: I’m sorry.

juror no. 1: I think he’s a greedy little man.

....

juror no. 77: From everything I’ve seen on the news, everything I’ve read, I believe the defendant is the face of corporate greed in America.

brafman: We would object.

juror no. 77: You’d have to convince me he was innocent rather than guilty.

the court: I will excuse this juror. Hello, Juror Number 125.

https://harpers.org/archive/2017/09/public-enemy/

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Re: The Suddenly $750 Pill

Postby gargantua » Thu Aug 17, 2017 10:24 pm

Juror #me. He can go to hell. I'll volunteer to lethal inject this worthless piece of shit myself, just to wipe that smile off his face. No charge!

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Re: The Suddenly $750 Pill

Postby gozer » Sat Aug 19, 2017 9:44 pm

gargantua wrote:Juror #me. He can go to hell. I'll volunteer to lethal inject this worthless piece of shit myself, just to wipe that smile off his face. No charge!


with an epi-pen loaded with strychnine . . . but for that fellow i would hope that the penalty would be administered by force-feeding him salty peanuts, crisps, and olives and so on for 36 hours then letting a live electric eel swim up his arsehole . . .

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Re: The Suddenly $750 Pill

Postby gozer » Sat Aug 19, 2017 10:09 pm

from the harper's article op cit:

]juror no. 144: I heard through the news of how the defendant changed the price of a pill by up-selling it. I heard he bought an album from the Wu-Tang Clan for a million dollars.

the court: The question is, have you heard anything that would affect your ability to decide this case with an open mind. Can you do that?

juror no. 144: I don’t think I can because he kind of looks like a dick.


i hope one of the radio or television networks signed on juror nº 144 as a commentator . . . s/he summed up the known facts very nicely . . .

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Re: The Suddenly $750 Pill

Postby Henry Vilas » Fri Sep 15, 2017 8:40 pm



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