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Thread: A 100,000% increase in cost

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    Master political analyst Dittohead not!'s Avatar
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    A 100,000% increase in cost

    In 2015, two small children of Rockford employees were treated with Acthar, a drug that's been on the market since 1952. It's used to treat a rare and potentially fatal condition called infantile spasms that afflicts about 2,000 babies a year.
    The drug works – it's considered the gold standard for infantile spasms. But as he discovered it wasn't always so expensive. In 2001, Acthar sold for about $40 a vial. Today: more than $40,000. An increase of 100,000 percent. He wanted to know how that could've happened. But for two years he kept running into a brick wall.
    Surely, there must be competition for a drug used since 1952, right? Well, yes, but:

    To keep the price high, the FTC found that they did something else: they bought another drug that was Acthar's main competitor, a drug called Synacthen, that's been sold in Europe and Canada for years. For how much?

    Don Haviland: Synacthen cost $33 in Canada. $33.

    Lesley Stahl: The Acthar company bought the other drug?

    Don Haviland: The competitive drug, yes. That's anti-trust, and that's why the Federal Trade Commission went after them. Because they took the only competitive product, paid a lot of money for it, and put it on the shelf.

    Lesley Stahl: So they bought their only competitor, and then never sold it?

    Don Haviland: Correct.
    And, once you have a monopoly, just expand the market:

    We were able to find an old press release that said as much: the company was going to "...Expand our existing markets (and) find new therapeutic uses for Acthar." And so the company began to market the drug for several chronic conditions like rheumatoid arthritis that affect adults.

    Dr. Peter Bach: What's shocking to me is half a billion dollars spent on this drug for seniors where there's no evidence that it's the right drug for any of them.
    But, it's the right one for the bottom line.

    It turned out to be ineffective for RA, but cost Medicare some half billion dollars anyway.

    There you have it: A perfect example of why medical care in the USA costs double and triple what it costs other nations. Just thought you might want to know.

    Source: 60 minutes

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    Southern Strategy Liberal OldGaffer's Avatar
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    Fortunately, there is no such thing as corporate malfeasance in #Trumpworld....
    Thanks from Friday13, Ian Jeffrey and Coyote

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    Dick with my Buzz...Try DebateDrone's Avatar
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    Trump announced today 'reforms' to prescription medication costs that had Pharma stock prices soar.

    What? One would think the government looking to make Rx costs lower would have Pharma stock prices drop. What do they know...we don't?
    Thanks from Dragonfly5

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    Spock of Vulcan Ian Jeffrey's Avatar
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    Quote Originally Posted by DebateDrone View Post
    Trump announced today 'reforms' to prescription medication costs that had Pharma stock prices soar.

    What? One would think the government looking to make Rx costs lower would have Pharma stock prices drop. What do they know...we don't?
    Trump's vision for the federal government involves the following ministries, concerning themselves with, respectively: lies, starvation, war and torture.

    Ministry of Truth
    Ministry of Plenty
    Ministry of Peace
    Ministry of Love

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    Council Member Djinn's Avatar
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    Here's a summary of the reforms:

    Rather than take aim at the pharmaceutical makers, Mr. Trump said his administration would cut out the middleman, provide new tools to private benefits managers in Medicare’s prescription drug program to negotiate lower prices, stop limiting pharmacists from helping patients save money and speed up approval of over-the-counter medicines so that fewer will require prescriptions.

    He also directed his trade representative to make it a priority to stop foreign countries from forcing American drug makers to provide medicines at drastically lower prices than in the United States. “It’s time to end the global freeloading once and for all,” Mr. Trump said.
    https://www.nytimes.com/2018/05/11/u...rugs-plan.html
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    Veteran Member Southern Dad's Avatar
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    Quote Originally Posted by OldGaffer View Post
    Fortunately, there is no such thing as corporate malfeasance in #Trumpworld....
    Doh! The price of this drug went up under President Bush and again under President Obama. So how exactly are you going to blame President Trump for this one?

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    Southern Strategy Liberal OldGaffer's Avatar
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    Quote Originally Posted by Southern Dad View Post
    Doh! The price of this drug went up under President Bush and again under President Obama. So how exactly are you going to blame President Trump for this one?
    Don't worry, be happy, Trump is in control and doing a fantastic job.

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    Veteran Member Southern Dad's Avatar
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    Quote Originally Posted by OldGaffer View Post
    Don't worry, be happy, Trump is in control and doing a fantastic job.
    But have read when the significant price increases happened with this particular drug? It wasn't during this Administration. Actually, the company has even changed ownership since the increases, and we've changed presidents.

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    Master political analyst Dittohead not!'s Avatar
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    Quote Originally Posted by Southern Dad View Post
    But have read when the significant price increases happened with this particular drug? It wasn't during this Administration. Actually, the company has even changed ownership since the increases, and we've changed presidents.
    So, does that make it OK?

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    Quote Originally Posted by Dittohead not! View Post
    So, does that make it OK?
    It makes it not about Donald Trump.

    Private and public insurance reimbursement needs to refuse to cover drugs when their makers push prices this high. Simply do not cover them. Refuse. Let people pay cash if they want (which they won't).
    Last edited by Neomalthusian; 11th May 2018 at 06:35 PM.

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