Tuesday, March 31, 2015
Big Pharma more market distorting than John D Rockerfeller?
We have to start looking at these drug monopolies as if they were John D. Rockefeller land. They may be temporary monopolies but when 5 million Hep C patients can use a new drug that costs $84,000 a treatment that adds up to $400 billion+ for one treatment of one ailment.
Steven Brill reports the government paid for the initial research on the med but when the researchers smelled money they switched to private funding. Brill says 1/10 the price would be reasonable. The endocrinologist at the heart of the research made $440 million for himself.
If you can go to India and stay 12 weeks you can do the same course of treatment for $1,000 (maybe you can sneak the pills back; don't know if that'd be legal -- why not?). Wouldn't it make the point if Medicare did something outlandish (I wont say crazy) like approving payment for the Indian trip to save tens of thousands of dollars (I've seen an estimate of $54,000)?