SoylentNews is people
SoylentNews
I ran across a story in the acclaimed “medical journal”, International Business Times, about how an old PMS medication from the 60s might be an Alzheimer's cure. Considering the source, I don't put a ton of stock in the story but it was interesting enough to look around a little more. That led me first to wikipedia to learn a little more about the drug in question (sounds like it has nasty side effects), which is when I got totally sidetracked:
Mefenamic acid is generic and is available worldwide under many brand names.[5]
In the USA, wholesale price of a week's supply of generic mefenamic acid has been quoted as $426.90 in 2014. Brand-name Ponstel is $571.70.[15] In contrast, in the UK, a weeks supply is £1.66, or £8.17 for branded Ponstan.[16] In the Philippines, 10 tablets of 500 mg generic mefenamic acid cost PHP39.00 (or the equivalent of $0.88USD) as of October 25, 2014.
The numbers in wikipedia may be extreme, but not by much. Looking online, I see that thirty 250mg tablets cost at least $111 at Walmart. In an almost direct reversal of the quantity and price numbers, one hundred 250mg tablets cost $35 from a UK manufacturer, but to get the drug at that price, you must break Federal law.
The rest of my comment would be a long string of expletives which I shall omit.
(Score: 2) by migz on Wednesday August 17 2016, @08:00PM
"Price Controls Are Disastrous for Venezuela, and Everywhere Else"
https://mises.org/blog/price-controls-are-disastrous-venezuela-and-everywhere-else [mises.org]
(Score: 2) by Capt. Obvious on Wednesday August 17 2016, @11:55PM
That piece was long on theory, and short on real world evidence. I would, trivially, point to the economic downturns in Qatar, Saudi Arabia and Russia as evidence that it's the price of oil that has the most to do with Venezuela's situation. Yes, their internal policies exacerbate the issue, but petro-dollars are not what they once were.
Not all industries are the same. Healthcare, in particular, has low elasticity, low information consumers. Things that work well with toilet paper, may not work on lifesaving drugs.
Did you read my citation about drug prices in the UK and Norway (coming soon to Germany?)