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Thread: Stop the Epipen Price Gouging

  1. #46
    Member steven's Avatar
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    Quote Originally Posted by 300miles View Post
    It didn't read like they were blaming the insurance companies, it was simply stating that people without full coverage or high deductible plans have to pay the full price while others on Medicaid do not. The company thinks it can raise prices, simply because it can. It's a free market capitalist health system and it sucks for the people impacted by the price increase... but this is how companies make their profits. You keep looking for someone to blame, while denying that you want the govt to step in and do something about the pricing of their product. That's fine to admit that's what you want, but don't keep pretending you don't want any kind of socialized medicine, yet still want price controls when it impacts you or someone you care about.
    But there is the rub. We cant have price controls and socialized medicine because we are basically the ones keeping R&D going for the rest of the world. Drug manufacturers aren't in it to be benevolent, they are in it to make money.

    If we price controlled the drugs then drug makers would respond by slashing R&D budgets and laying off all those researchers with alphabets behind there name. That would mean a lot less new drugs and a lot less new knowledge.

    The problem with the fantasy that socialism will somehow make the world a better place stems directly from 1. thinking people will do hard work for pennies "just because" and 2. somehow you can force the guy that has a lot of money to give what he has to someone else. Both thoughts are ridiculous.

    No one goes to school for 8 - 12 years to make 50K a year and the guy with all the money has enough so that when you pressure him to much he will simply leave for somewhere else.

    I dont want our goverment to inact price controls I want them to pressure the Europeans to stop with the price controls.
    People who wonder if the glass is half empty or full miss the point. The glass is refillable.

  2. #47
    Member Mindcrime's Avatar
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    Quote Originally Posted by steven View Post
    ...If we price controlled the drugs then drug makers would respond by slashing R&D budgets and laying off all those researchers with alphabets behind there name. That would mean a lot less new drugs and a lot less new knowledge...
    Considering the CEO of Mylan just raised her own salary by 671%, it's pretty clear this is not about budget constraints, just capitalist greed.
    Everyone is entitled to their own opinion. No one is entitled to their own facts.

  3. #48
    Member 300miles's Avatar
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    Quote Originally Posted by WNYresident View Post
    Why don't we see Schumer soap boxes about the medical companies? Could it be they are bought off by lobbyist? Hmmmm?
    Mylan pledges to make EpiPen more affordable

    Mylan announced a series of steps Thursday it says will make its EpiPen more affordable for some patients.


    Following a recent uproar, including a public tongue-lashing from Hillary Clinton and a senator whose daughter uses the product, Mylan (MYL) said Wednesday it would help reduce the cost of the emergency allergy drug for people who are struggling to afford it.

    In a press release, Mylan said it would provide instant saving cards worth $300 to patients who have to pay full price for the drug out of pocket. That amounts to about a 50% price cut for those people without insurance or for patients with high deductible plans.

    The drugmaker also said that it would expand the group of patients eligible for financial assistance. Families of four with a household income of $97,200 or less can apply to receive the EpiPen two-pack for free.

    Mylan will also "open a pathway" to sell its EpiPens directly to consumers, which could help reduce the cost of the drug for patients. And it will continue to give away free EpiPens to select school systems.

    The company did not mention the public criticism from politicians and did not immediately respond to CNNMoney. But Clinton and also Sen. Amy Klobuchar, a Democrat from Minnesota whose daughter carries the emergency treatment as a precaution against potentially life-threatening allergic reactions, have demanded that the company reduce the price.




    http://money.cnn.com/2016/08/25/news...pen/index.html

  4. #49
    Tony Fracasso - Admin
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    Miles,

    The reason they are doing this is because of the public backlash over gouging people. I know it's capitalism but screwing people is screwing people. Add this to the mix. Have a few bought off politicians and they can pressure the FDA not to approve of other products which gives your company a monopoly of that product. Basically make it hard for your competition.

    This company is trying to milk the insurance companies for what they can while trying to put a face that they care about people who can't afford the product. How about just lowering the price across the board instead of selectively. It is far more profitable for them to give a few away while still milking the insurance companies or others.

  5. #50
    Tony Fracasso - Admin
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    Check this out.



    CEO who gouged EpiPen price is daughter of Democratic senator



    CHARLESTON, W.Va. — As a pharmaceutical company run by US Sen. Joe Manchin’s daughter faces scrutiny for hiking prices on life-saving allergy injection pens, Manchin is remaining mum.

    The Democratic West Virginia senator’s daughter, Heather Bresch, is CEO of Mylan, which manufactures EpiPens.

    A two-dose package cost around $94 nine years ago. The cost averaged more than six times that in May.


    http://nypost.com/2016/08/24/ceo-who...ocrat-senator/



    A Mylan statement Monday cited health insurance changes with higher deductible costs for many.
    This statement is completely irrelevant to them raising the price.

  6. #51
    Member 300miles's Avatar
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    What is it that you really want here? You want the price to be lower, but you don't want govt interference. You want politicians to do something, but you won't acknowledge that Democrat politicians did exactly what you asked them to do. Instead you point out that a Democrat's daughter works for the company. Are you criticizing the company? or the insurance co's? or the politicians? You seem to want govt to stay out of it, but then criticize govt for doing nothing.

  7. #52
    Tony Fracasso - Admin
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    I want nothing from this. It's capitalism. It's not my right to tell someone what they should charge or not for their product. On the other hand you can't have "government" making it difficult for people to compete against companies who line the pockets of politicians and lobbyist. I criticize government when they are hypocrites. Don't go pointing out someone in the private sector making too much money on an item/service when you have entire "government" departments lining their pockets with 6 figure salaries, gold healthcare packages and pension plans you do not see in the private sector. Simple as that.

  8. #53
    Member leftWNYbecauseofBS's Avatar
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    Quote Originally Posted by 300miles View Post
    What is it that you really want here?

    My take:

    Nothing should be forced here.

    They are not required to make, produce or price their product by anyone outside of the company.

    There are alternatives to their product on the market both as easy to use pens and more manual options.

    They should be free to set the price to whatever they want.

    If the public has issue with any of the above they can choose not to purchase the product.

  9. #54
    Tony Fracasso - Admin
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    Here is one reason they may have lowered the price.


    Check out Mylan's stock since the story started to spread.

    http://finance.yahoo.com/quote/MYL?ltr=1


    Mylan halts losing streak after EpiPen price cut, Tiffany shines, Dollar Tree declines




    MYL) shares got a nice shot in the arm in early trading, halting its recent losing streak. The biotech firm said it will cut the cost of its EpiPen by half, through a savings card which will cover up to $300 of the EpiPen 2-pak. The move comes after increased pressure from Congress and Hillary Clinton over the skyrocketing cost of the allergy treatment.



    http://finance.yahoo.com/news/mylan-...000000910.html

  10. #55
    Member steven's Avatar
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    Quote Originally Posted by Mindcrime View Post
    , capitalist greed.
    Its terrifying watching my fellow American citizens start talking more and more like communist everyday. Sooner or later you guys will just stop preteding and start calling each other comrade

    Quote Originally Posted by Mindcrime View Post
    Considering the CEO of Mylan just raised her own salary by 671%
    The Democrat Senators daughter that you speak of took a company that made less then 200 Million a year and transformed it in to a company that makes over a billion in sales in a couple of years. She makes 19 million a year. if you owned a restaurant that made 100k a year and the new head chef transformed the restaurant in to making a million a year his salary hike, percentage wise, would be a lot more then her salary hike. Not a fan of hers or anything but this whole salary bruhaha is ridiculous, 19 million in salary is peanuts compared to the over billion dollars a year that the company makes in sales.

    What the democrat Senators daughter did was pure genius, she took a product her company was selling and conned the world in to thinking it was a "must have item". Prior to 2015 epipen sales where under 400% less then it is today. 2 yrs later everyone must have it or we will all die and its the end of civilization as we know it. LOL

    Quote Originally Posted by Mindcrime View Post
    it's pretty clear this is not about budget constraints
    I said absolutely nothing about budget constraints so not sure why you quoted me with that remark. I stated the fact that drug companies are in it to make money and most of the money they make is off of United States citizens. Want a cheaper epipen? Buy it in Europe where they sell it for 100 - 150 dollars. Want prices to go down here? Then you should be lobbying for the end of the socialized system in Europe so they pay their fair share.

    But if you think cutting the CEO's pay is going to magically make the price less your dreaming. It has nothing to do with her salary and everything to do with the United States subsidizing the rest of the world.

    That kiddies, is why socialism/communism doesn't and cant work. At the end of the day someone has to foot the bill.
    People who wonder if the glass is half empty or full miss the point. The glass is refillable.

  11. #56
    Member BorderBob's Avatar
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    The issue for most people, me at least, is the idea that Mylan didn't DO anything to justify an increase in price. They didn't invent the product or patent it. They didn't improve the product. They have no R&D dollars invested. They bought a license, then jacked up the price on the existing product. They tried to blame it on insurance deductibles, but that is not the case either.

    That is the greed....pure and simple.





    b.b.

  12. #57
    Tony Fracasso - Admin
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    Quote Originally Posted by BorderBob View Post
    The issue for most people, me at least, is the idea that Mylan didn't DO anything to justify an increase in price. They didn't invent the product or patent it. They didn't improve the product. They have no R&D dollars invested. They bought a license, then jacked up the price on the existing product. They tried to blame it on insurance deductibles, but that is not the case either.

    That is the greed....pure and simple.


    b.b.
    Let's apply this comment to the public sector...

    The issue for most property owners is the idea that "public sector unions" didn't DO anything to justify an increase in salaries. They didn't improve service. They have no money invested in equipment, buildings and/or materials. Us property owners pay for all of that. They were given a monopoly of services and jack up the price each year.

    That is the greed....pure and simple.


  13. #58
    Member BorderBob's Avatar
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    But we are not talking about public sector unions.....or unions at all....or workers at all. Stop hijacking threads. Don't we have moderators around here.

    When any public sector unions gets a raise of 400%, then we can talk.



    b.b.

  14. #59
    Tony Fracasso - Admin
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    OH i hit a nerve i see . Same concept. Their license = a contract. Right?

  15. #60
    Member steven's Avatar
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    Quote Originally Posted by BorderBob View Post
    The issue for most people, me at least, is the idea that Mylan didn't DO anything to justify an increase in price. They didn't invent the product or patent it. They didn't improve the product. They have no R&D dollars invested. They bought a license, then jacked up the price on the existing product. They tried to blame it on insurance deductibles, but that is not the case either.

    That is the greed....pure and simple.





    b.b.
    I agree, it sucks, but unless we have mandated government price controls this will always be an issue, and mandated government price controls would be a disaster not just for us but the entire world.

    However, anyone in Buffalo can just get it in Canada or use a regular needle like most people did 2 yrs ago
    People who wonder if the glass is half empty or full miss the point. The glass is refillable.

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