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Mylan is a real mess

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  • Center Left
    Independent
    Central, FL
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    Mylan is a pharma company that manufacturers an epipen as a sound defense for those who have a serious alergic reaction and need relief in a near immediate way. They raised the price of this epipen by a huge amount. It seems to me that it's price gouge. The CEO Heather Bresch is on cnbc now. She's catching a lot of heat and their stock has gone down today. People in congress say they want to talk to her and social media is painting an ugly picture of the unfair actions. 274.00 334.00 608.00 prices to manufacture, price by middle men, price to purchase. Others complain that it is bought in other countries where it can be purchased for 100.00 Subsidies is the explanation there. This CEO recently received a huge bonus of many millions of dollars. The whole damned thing doesn't look good.

    Above prices are for a pack of two pens is what I believe that I read. Price gouging on important medicine is a bad thing.

    Thoughts/opinions ?

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Single payer.

    "The law compares the reported price of the commodity or service during the state of emergency to the average price charged over the 30-day period prior to the declared state of emergency. If there is a “gross disparity” between the prior price and the current charge, it is considered price gouging."

    Needing a drug that saves your life in an emergency seems to include Epipens.

  • Independent
    Ft.myers, FL
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    TJ Wrote:

    Mylan is a pharma company that manufacturers an epi pen as a sound defense for those who have a serious alergic reaction and need relief in a near immediate way. They raised the price of this epi pen by a huge amount. It seems to me that it's price gouge. The CEO Heather Bresch is on cnbc now. She's catching a lot of heat and their stock has gone down today. People in congress say they want to talk to her and social media is painting an ugly picture of the unfair actions. 274.00 334.00 608.00 prices to manufacture, price by middle men, price to purchase. Others complain that it is bought in other countries where it can be purchased for 100.00 Subsidies is the explanation there. This CEO recently received a huge bonus of many millions of dollars. The whole damned thing doesn't look good.

    Above prices are for a pack of two pens is what I believe that I read. Price gouging on important medicine is a bad thing.

    Thoughts/opinions ?

    Tony as I have said in many threads; it is part of the stupidity here to refuse to copy other countries who have an excellent healthcare system and have real control over the doctors, hospitals and pharma industry. In this corrupt country this seems to be impossible because of our fantastic lobby system which protects all the crooks. In Europe prices in the healthcare system are fixed and contracted with the healthcare industry as well no lobby system or pharma adds on TV! They have to commit to regular review etc. and can't raise prices on their own. As long as the US continues as such , then only the lawyers get rich and the healthcare patient poor. As I said before the healthcare here is an total rip-off ; dentists here totally overprice as well bad work. In Europe a "tenth of the cost compared to here. Trump is right; this is an corrupt country. No wonder Obama care and Medicare is going broke.
  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    Dutch Wrote: Tony as I have said in many threads; it is part of the stupidity here to refuse to copy other countries who have an excellent healthcare system and have real control over the doctors, hospitals and pharma industry. In this corrupt country this seems to be impossible because of our fantastic lobby system which protects all the crooks. In Europe prices in the healthcare system are fixed and contracted with the healthcare industry as well no lobby system or pharma adds on TV! They have to commit to regular review etc. and can't raise prices on their own.As long as the US continues as such , then only the lawyers get rich and the healthcare patient poor. As I said before the healthcare here is an total rip-off ; dentists here totally overprice as well bad work. In Europe a "tenth of the cost compared to here. Trump is right; this is an corrupt country.

    It's a bit more complicated than that.

    The vast majority of European and other Western countries prescribe their patients drugs that were manufactured in the good ole US of A. In fact, American citizens bear the burden of other countries price controls because R&D costs a lot of money and that cost is funneled down to us because of other countries price controls.

    I know this from experience. I have a degree in healthcare management and fully understand how the health care and pharmaceutical industries function.

    So the next time you want to bitch about America, maybe look in the mirror and ask why it is that other countries take advantage of our system and force regular Americans to subsidize their health care. They want all the advantages of Western medicine, but don't want to pay their fair share.

    And I really encourage you to think twice before you respond with a personal attack calling me a flag waiving idiot who is stuck on island. This is one subject that I understand extremely well. Don't bring a knife to a gun fight because I can get extremely wonky when it comes to discussing health care.

    Dutch Wrote: No wonder Obama care and Medicare is going broke.

    No, they aren't.

  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    TJ Wrote: Mylan is a pharma company that manufacturers an epipen as a sound defense for those who have a serious alergic reaction and need relief in a near immediate way. They raised the price of this epipen by a huge amount. It seems to me that it's price gouge. The CEO Heather Bresch is on cnbc now. She's catching a lot of heat and their stock has gone down today. People in congress say they want to talk to her and social media is painting an ugly picture of the unfair actions. 274.00 334.00 608.00 prices to manufacture, price by middle men, price to purchase. Others complain that it is bought in other countries where it can be purchased for 100.00 Subsidies is the explanation there. This CEO recently received a huge bonus of many millions of dollars. The whole damned thing doesn't look good.

    Above prices are for a pack of two pens is what I believe that I read. Price gouging on important medicine is a bad thing.

    Thoughts/opinions ?

    I am by no means a big fan of Mylan and their price gouging, but as I pointed out in my response to Dutch, this is a very complicated issue.

    America basically subsidizes the rest of the worlds healthcare. We are the only major Western country that doesn't have price controls and we are also the leading country when it comes to groundbreaking treatments that can save a persons life. Add those two things together and it's no wonder why healthcare is so expensive in America. We are paying to keep it cheap in the rest of the world.

    Researching and developing these treatments requires a lot (and I mean A LOT) of time and money. The reason our drugs and medical equipment are trusted throughout the world is because of the regulatory system our government has set up to ensure that the drugs and treatments our physicians prescribe are safe.

    At the same time, these countries governments place price controls on these drugs and treatments. They don't invest the money needed to research and develop new groundbreaking drugs because they don't have to. We take care of it for them. So these other countries get to have their cake and eat it too.

  • Center Left
    Independent
    Central, FL
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    It begs the question.....who is being protected ? Not the consumer or their families. Rest of the world pays less because they allow negotiations. I think lobbyists are evil and laws should change immediately to protect the little guy. The consumer trying to provide for their family and still survive. Maybe the US govt. should say, hey we love having you here to provide medicine, devices, and jobs but groups who buy in bulk should be discounted accordingly. If you don't like it big pharma, buy new machinery and make disposable pens instead of epipens. Healthcare costs so damned much and the focus should change to benefit the citizens and not the companies. I realize there are costs of R & D and companies should be compensated. There should be much more scrutiny and limitations to profit levels. Any drug that addresses a common problem probably has 2 - 4 other competitors that offer roughly the same product. An advantage should be extended to those companies who agree to reasonable profit levels. Just my opinion.
  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    TJ Wrote: It begs the question.....who is being protected ? Not the consumer or their families. Rest of the world pays less because they allow negotiations. I think lobbyists are evil and laws should change immediately to protect the little guy. The consumer trying to provide for their family and still survive. Maybe the US govt. should say, hey we love having you here to provide medicine, devices, and jobs but groups who buy in bulk should be discounted accordingly. If you don't like it big pharma, buy new machinery and make disposable pens instead of epipens. Healthcare costs so damned much and the focus should change to benefit the citizens and not the companies. I realize there are costs of R & D and companies should be compensated. There should be much more scrutiny and limitations to profit levels. Any drug that addresses a common problem probably has 2 - 4 other competitors that offer roughly the same product. An advantage should be extended to those companies who agree to reasonable profit levels. Just my opinion.

    It's usually not as simple as saying competition is the answer because of patent laws. EpiPens will become far cheaper once their patent expires.

    What Mylan did has been done time and time again when a company is nearing the end of its patent monopoly. They are likely trying to get as much money as they can before their profit is slashed considerably. I'm not saying it's right. Actually, I think it's terrible. But it still goes back to the rest of the world taking advantage of American technological might and lax regulations on private companies financial practices.

  • Independent
    Ft.myers, FL
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    jaredsxtn Wrote:
    Dutch Wrote: Tony as I have said in many threads; it is part of the stupidity here to refuse to copy other countries who have an excellent healthcare system and have real control over the doctors, hospitals and pharma industry. In this corrupt country this seems to be impossible because of our fantastic lobby system which protects all the crooks. In Europe prices in the healthcare system are fixed and contracted with the healthcare industry as well no lobby system or pharma adds on TV! They have to commit to regular review etc. and can't raise prices on their own.As long as the US continues as such , then only the lawyers get rich and the healthcare patient poor. As I said before the healthcare here is an total rip-off ; dentists here totally overprice as well bad work. In Europe a "tenth of the cost compared to here. Trump is right; this is an corrupt country.

    It's a bit more complicated than that.

    The vast majority of European and other Western countries prescribe their patients drugs that were manufactured in the good ole US of A. In fact, American citizens bear the burden of other countries price controls because R&D costs a lot of money and that cost is funneled down to us because of other countries price controls.

    I know this from experience. I have a degree in healthcare management and fully understand how the health care and pharmaceutical industries function.

    So the next time you want to bitch about America, maybe look in the mirror and ask why it is that other countries take advantage of our system and force regular Americans to subsidize their health care. They want all the advantages of Western medicine, but don't want to pay their fair share.

    And I really encourage you to think twice before you respond with a personal attack calling me a flag waiving idiot who is stuck on island. This is one subject that I understand extremely well. Don't bring a knife to a gun fight because I can get extremely wonky when it comes to discussing health care.

    Dutch Wrote: No wonder Obama care and Medicare is going broke.

    No, they aren't.

    Jared, I guess you better ask your money back for your degree!! Just playing the "patriot" while you are being ripped off by your own fellow country man does not cut it. No CEO of any pharma or health institute here is going hungry. Ask our Mr Scott who made millions ripping off hospitals and then via our fantastic law system could claim the "fifth' a hundred times and managed to become governor via bribe money. Go wave your flag Jared and burn your "degree papers". By the way most drugs used in Europe are produced there; seldom I've seen any US made drug there; they make sure they have equivalent products or licences. Via Novartis, Bayer, and others. Yes the Obamacare is in the "red" read the news.

    Jared you have no clue whatsoever; go find an drug pricelist from here and over there and compare. No Europe has no advantage from the US. None whatsoever.

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    "However, federal law currently prohibits the government from negotiating with the pharmaceutical industry to lower the cost of drugs purchased under Medicare Part D.
    Obamacare left the pharmaceutical industry largely unregulated while requiring it to pay for some of the law’s increased drug coverage.
    “That is probably my single greatest regret, is we didn’t have the chance to get negotiating power for Medicare for drugs. That would have made a profound difference,” said former Sen. Kent Conrad (D-N.D.), a member of the Finance Committee when the health care law was being negotiated and passed throughout 2009 and into 2010."
    Is the unaddressed drug cost a result of getting ACA passed??
  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    "EpiPens will become far cheaper once their patent expires."

    There are multiple drugs not protected by patent that are rising daily.

    These sensational accounts are actually dwarfed but the rising cost of all drugs. Including otc.

  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    Dutch Wrote: Jared, I guess you better ask your money back for your degree!! Just playing the "patriot" while you are being ripped off by your own fellow country man does not cut it. No CEO of any pharma or health institute here is going hungry. Ask our Mr Scott who made millions ripping off hospitals and then via our fantastic law system could claim the "fifth' a hundred times and managed to become governor via bribe money. Go wave your flag Jared and burn your "degree papers". By the way most drugs used in Europe are produced there; seldom I've seen any US made drug there; they make sure they have equivalent products or licences. Via Novartis, Bayer, and others. Yes the Obamacare is in the "red" read the news.


    Jared you have no clue whatsoever; go find an drug pricelist from here and over there and compare. No Europe has no advantage from the US. None whatsoever.

    Seriously man. Get a grip. Your hatred of America clouds your judgement and makes it impossible to have a fact based conversation with you.

  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    Chet Ruminski Wrote:"EpiPens will become far cheaper once their patent expires."

    There are multiple drugs not protected by patent that are rising daily.

    These sensational accounts are actually dwarfed but the rising cost of all drugs. Including otc.

    What drugs are you talking about? Are these mystery drugs rising due to inflation or because of other factors?

    Price competition comes in once patents expire. That's why acetaminophen and ibuprofen cost pennies on the dollar.

  • Center Left
    Independent
    Central, FL
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    On social media they are speaking a lot about this topic. One suggestion that is often made is the generic equivalent of the epipen. I know in a perfect world we would all want the proven name brand. A generic is a perfect option and hopefully it takes away from the bottom line of Mylan without causing any problems for the consumer and their family. The generic is a fraction of the cost.

    Chet, as you stated above... the lack of negotiating abilities is a glaring weakness of the ACA in the case of Medicare and in general.

  • Liberal
    Independent
    Durham, NH
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    Gee, no collusion between this POS WOMAN, her POS Blue Dog Dem senator father from WV and the slime bags that went back and changed her college record giving her a degree she never earned! Just a coincidence her salery went from 2.4 mil to 19 mil in a few years. After all, she has the connections and in the land of the free and brave that's all that that's required to pull in the big $$$.
  • Center Left
    Independent
    Central, FL
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    I just read that over 6 or 8 years her wages went up 671% while the price of the epipen went up 400%.