Generic does not necessarily mean that the same formula and ingredients are
used. It just means that up to 80% of the name-brand Rx recipe will be used, and
the rest is not necessarily up to par. I've found that out with even Xyrtec. The
OTC brand does nothing, as well as the Allegra OTC. Something is missing, and
I'm feeling even more drowsy than when I paid full price for name-brand.
Big Pharma. The #2 reason for high American health care costs.#1 is
the medical insurance mafia.
We all can thank Senator Hatch for these patents not expiring sooner. He has
used his influential positions in the Senate to extend the duration of the
patents to protect his contributors, the big pharma companies, at the expense of
the average American who needs the drugs and cannot often afford them. Thank
you Senator Hatch! Chafetz is no solution to Hatch
Before we rejoice too much about generic drugs, we need to remember who
discovers new medicines, researches all the side effects, gets them approved by
the FDA and pays for all of that! Generic companies do none of that! They
parasite off the work and success of other companies who foot the bills for all
the cost. Add to that the cost of defending yourself against all the legions of
ambulance chasing lawyers who love to get their hands into the pockets of drug
companies and you can begin understand why new medicines are so very expensive!
Where will the next miracle drug come from? One thing you can know for sure, it
will NOT come from a generic drug company!
The high cholesterol scare is probably the biggest medical farce presented to
the American people, ever. Though how medicine treats diabetes type II may just
top it.In 1995, death by Rx drugs was the fifth leading cause of death in
the USA. Now, it's the third leading cause. It looks like it will just get a
little cheaper to get there, legally.
@MountanmanSniff, sniff, boo hoo. I feel so sorry for those bug
drug companies. Bistol-Myers Squibb, who gets over $1180 per month for my
wife's medications only grossed $18.8 Billion dollars last year with net income
of a mere $10.6 billion. I feel so sorry for them.
@ CHS 85. I can tell you it is largely BECAUSE of generics that new meds cost
are so high. Why? because if a company is fortunate enough to discover and get a
drug approved, they have less than 15 years to recoup their costs then it goes
off patent and its done! I wish the best to your wife and hope her meds improve
her life. I for one am grateful we have medicines to protect and improve our
health! If there is anyone who should be cheering drug companies on, it is
generic companies. Because if the companies who discover new medicines do not
succeed, generic companies have nothing to sell and we will have no medicines.
Drug companies are my heroes for these reasons. Generic companies: just a
different kind of parasite.
Mountanman is right on the money. The short sighted consumers thing everything
should just be the price of the generics. The companies have to pay scientists,
researchers, lawyers etc. Then once that is finally done they only have a short
amount of time to make it pay off.When I starting worrying about
drug costs I invested in Pfizer stock. It has split 3 times and increased in
value 400%. Not to mention the great dividends we get from it each quarter.
Pfizer has some of the top selling medications on the market but will take a hit
when many of their biggest patents expire. I'm not worried though. They have a
great research team and will continue to make the medications that improve our
lives.So yes, thank you Sen. Hatch. Without your work the big
companies would go out of business and not even try to make these new
medications. It wouldn't be financially possible to make money. Thank you for
making it work for all of us instead of a few short sighted citizens.
Yeah, I'm not too concerned about what brand name drug makers are going to do
about profits with drug patents expiring. I am very excited about the savings
people are going to see. This is awesome news for everyone especially the
uninsured, people with high co-pay brands, medicare patients in the "donut
hole," people with high deductible plans, etc. Parasites Mr.
Mountainman? I certainly could make that same argument about brand name drug
makers. Sure, brand name drug makers gouge people until patents expire and make
a killing, then lets get some competition to drive prices down so people can
afford their meds. Are you suggeting that brand name drug makers aren't making
enough money? Are you suggesting competition isn't a good thing?
The pursuit of profits may kill us.Dichloroacetic Acid (DCA) is a
drug which showed promise in treating cancer. You'd think "A company could
make serious money with that!", but the drug is made up of common
ingredients that cannot be patented, so the big drug companies are not pursuing
it. The drug can be produced at the same cost as aspirin.Imagine
that. A cure for cancer not pursued because it can't make money.Long story short, a drug must go through clinical trials, so a town in Canada
held a fund raiser to pay for the trials. Tests continue today.
There is such a thing as obscene profits. The big drug companies
recoup their investment in a new drug in the first 5 years, yet they continue to
gouge the public for 10-13 years longer, making as much money as they can while
people who cannot afford their drugs suffer and perish. This is a great example
of obscene profits. So glad you could afford the Pfizer stock.
Some of us were spending that money on insurance premiums that rose 25% and drug
copays that went up 20% a year.Oil companies make the same argument:
"We incur the cost, we should reap the rewards." Another example of
obscene profits. They maximize their profits at a huge cost to society. There
is another term for this: filthy lucre.
Here's another angle on this issue--the U.S. is paying for the research, though
the benefits are worldwide! The pharmaceutical companies fund tons
and tons of research--much of their research is crazy, but their crazy research
pays off in the long run. When they do get a patent, they need to pay for their
research in the first few years while there is no competition for their new
drug.Who pays for this research? The U.S. Other countries around
the world have placed "caps" on how much pharmaceutical companies can
charge for their drugs. Pharmaceutical companies go along with this, because
they still profit a bit at these capped rates. But we don't have these caps in
the U.S., so we end up paying stunning rates for the drugs, because the world
isn't helping pay for the research.I'd like to see the
pharmaceutical companies charge those in the U.S. the same amount as they charge
everyone else. Their profits might take a hit, but then they could develop more
efficient research strategies.
For years I have purchased Lipitor and Plavix over the counter in the
Philippines for 1/5th the cost of what it is here. Just for info.
Who says the companies have to earn back their research and investments all in
one year and then make ludicrous profits every year after that for 10-15 years.
I was just reading an article which said that a report by 9 medical
scientists claiming cholesterol drugs are vital when 8 of the 9 had close ties
or investments in those very companies. The government said they saw no
conflict. Another study showed that these drugs only help people who have a
history of heart problems or it is prevalent in their family, whereas the
general public should not be taking them. This report was swept under the rug
by the government and was not reported by our "honest" media.
Re: WascomomYou know enough to be dangerous. Save the medical
advice to those that know what they are talking about. I'm a pharmacist and
what you have stated as fact is not true.
I feel that this is the time for the health insurance companies, who blame the
high cost of prescription drugs for the double digit increases in premiums every
year, to LOWER the premiums paid by patients for insurance and for prescription
drugs.Since the health insurers control Congress, I doubt this will
happen unless we as voters demand it. We must hold our representatives feet to
the fire.While I know that everyone also blames doctors for the high
costs of medical care, the fact is that reimbursements to physicians during the
past decade have NOT kept up with inflation, especially in the primary care
fields of internal medicine, pediatrics and family medicine. If
some of this windfall for insurers is not used to improve reimbursements to
these physicians, there will be a serious shortage of providers. Students will
refuse to enter these professions at such low pay compared with specialties, and
current practitioners will be forced out because they can't afford to stay open
when inflation outpaces reimbursement. Primary care medicine is
dying as a profession and there will be a serious crisis in the American medical
system, making things far worse than they are currently.
"Finally we can start eating out again" Might just be a reason why you
are having to take Lipitor. The majority of people on high blood pressure,
cholesterol, and type II diabetes meds can get off of them with some
self-control and daily monitoring of how much you eat. The majority of people
take these drugs because they eat too much and exercise too little.
I knew I would read this article and see the comments "Big Pharma"
somewhere. I wasn't disjointed. What? Perhaps some (name your Utah magical
miracle juice here) or some other snake oil would do the trick and
"magically" cure all of our ailments right? Big pharma indeed!
RE: CHS 85Reviewing th efinancial report, your numbers are wrong. while they di have nearly 18 billion net income. 13 billion
went to expenses, 1.6 billion to income taxes. leaving about 4.5 billion
actually income, to grow the company and invrst in research, so your
number are wrong, and things not so obscence afterall, as you make them out to
be.also notice in the report most of the money comes from the sales
about dozen medicines, a dozen medicnes support everything including all the
jobs that company provides, very few medicines provide any profit,
no wonder some are so expensive. sorry, businesses act like
businesses, they are not charities. they must be profitable or they
can provide you nothing and they can provide no jobs. things sre
not so simple as liberals make them out to be.
Mountanman: Hear Hear! I mostly agree with your argument. The big companies
are the research centers and, for every drug that passes the FDA, probably
hundreds fail. So they are not only recouping the costs of that one successful
drug, but also for hundreds of failed drugs. While I definitely cheer the free
market and the generic market, I still do appreciate what the big companies do
for us in the long run.Tenx: Yes! I live in India and it's the
same here as well. It seems then that the high cost to recoup the investment
stays only in the US and is not borne in foreign markets. I wonder why that is.
It's been so nice to have cheap medication here (and cheap medical care). So
cheap, in fact, I haven't even worried about running anything through my
insurance company yet.The truth: since when did this discussion
become an attack on liberals? One track mind I see. The big pharma companies
may yet come out with a med that can cure that for you. It must just be
horrible to reduce every discussion to a political debate.
Wha, Wha, Wha!!! Let's all cry for these people!!! Fact: I used to have this
problem back in the 90's and into the early 2000's, my drugs cost about $428 a
month if I recall and my disability pay was then about $872 I believe. I have a
severe Traumatic Brain Injury and couldn't qualify for medicaid, medicare didn't
have drug coverage at the time I am talking about, and so I lived on a sail boat
on the great salt lake, rent was $75 which included power. I used about $35-40 a
month for food, paid tithing, gas from the marina to Salt Lake or Magna, car
insurance and everything else didn't leave much. Along came Intermountain Health
Care to save the day, they gave me my medication for over 2 years at a cost of
$25 to me as "My Share", plus paid my back Dr. Bills! There is help
out there if you know where to find it, and I didn't know, but my caring
Doctor's secretaries KNEW how to get me the help I needed! Maybe not all Medical
Companies are like that, I know U of U definately isn't, but Help is out there!