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Drug companies are sitting on generics—43% of recently approved aren't for sale
Of the more than 1,600 generic drugs approved by the Food and Drug Administration since January of 2017, more than 700—or 43 percent—are not for sale in the US, according to a new analysis by Kaiser Health News.
The finding means that many pricy, brand-name drugs are not facing the competition that could help drive down soaring prices. Among the drugs missing in action are generic versions of the expensive blood thinner Brilinta and the HIV medication Truvada. Moreover, of the approved drugs that would offer a brand-name drug its first competition, 36 percent are being held off the market, the analysis found.
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Drug Companies are Sitting on Generics—43% of Recently Approved Aren’t for Sale
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Q: Who cuts the grass on Walton's Mountain?
A: Lawn Boy.
(Score: 5, Insightful) by Thexalon on Sunday February 10 2019, @02:07PM (2 children)
The basic idea of pay-to-delay is: I make a drug that rakes in $X a quarter right now. I'll pay you $Y to allow me to continue to gouge the customers. You like this deal because it means you get $Y without having to go through all the trouble of making and selling products, while I like this deal because it allows me to continue sell this drug at whatever price I feel like. And of course "whatever price I feel like" is now at least $X+$Y, and the only losers are the government, insurance companies, and the patients who actually need my drug to survive.
That kind of stuff prevents the benefits of markets from ever taking hold.
"Think of how stupid the average person is. Then realize half of 'em are stupider than that." - George Carlin
(Score: 3, Informative) by RandomFactor on Sunday February 10 2019, @02:25PM (1 child)
So apparently this is based on patent settlements. Still, they sound textbook anti-trust to me.
Why is it the FTC that addresses this instead of the FDA?
В «Правде» нет известий, в «Известиях» нет правды
(Score: 2) by Thexalon on Sunday February 10 2019, @07:54PM
It's the FTC rather than the FDA because the issue has to do with anti-trust and restraint of trade rather than the safety of the pills in question.
"Think of how stupid the average person is. Then realize half of 'em are stupider than that." - George Carlin
(Score: 1, Interesting) by Anonymous Coward on Sunday February 10 2019, @02:28PM (2 children)
“Then there’s potentially anti-competitive deals, in which brand-name drug makers simply pay generic makers to keep their product off the market for a while—a so-called “pay for delay” tactic.”
Price collusion or something like that?
(Score: 5, Interesting) by bzipitidoo on Sunday February 10 2019, @06:15PM (1 child)
Oh yes, highly illegal, and unethical, and immoral. But the medical industry abuses the high esteem the public has for medicine to get away with price gouging, price fixing, kickbacks, bribery, and other corrupt and monopolistic practices that would never fly in any other industry.
(Score: 3, Informative) by coolgopher on Monday February 11 2019, @12:22AM
Oh I dunno. Down here both banking and utilities would have a shot at that title.
(Score: 2, Interesting) by Anonymous Coward on Sunday February 10 2019, @05:52PM (2 children)
Allow the import of generics from any country with a statistically better health care system than the US.
That should allow a good supply, both in assortment and quality.
(Score: 2) by srobert on Sunday February 10 2019, @09:17PM (1 child)
Are there such countries? I thought the U.S. had the best health care system in the world? :-D
(Score: 1, Informative) by Anonymous Coward on Sunday February 10 2019, @11:43PM
Here's 30
https://en.wikipedia.org/wiki/List_of_countries_by_life_expectancy [wikipedia.org]
(Score: 2) by istartedi on Sunday February 10 2019, @06:25PM (8 children)
Literally, a drug cartel it seems. IANAL, but I don't see how they can get away with this "pay to delay" tactic. It seems like price fixing. If our legislators and/or enforcement doesn't act, why doesn't one of these billionaires attack the problem? I don't have the money or star power to do this kind of thing, but if I did I'd charter a public benefit corporation or non-profit for the express purpose of manufacturing and selling generics at fair prices for those who can afford them, and free for those who can't.
Appended to the end of comments you post. Max: 120 chars.
(Score: 4, Informative) by stretch611 on Sunday February 10 2019, @08:42PM
Actually, one started last year... But it will only supply hospitals. Its a non-profit started to lower prices of generics as well as ensure a supply of drugs that are in short supply.
https://www.washingtonpost.com/national/health-science/hospitals-are-fed-up-with-drug-companies-so-theyre-starting-their-own/2018/09/05/61c27ec4-b111-11e8-9a6a-565d92a3585d_story.html [washingtonpost.com]
Now with 5 covid vaccine shots/boosters altering my DNA :P
(Score: 3, Interesting) by bzipitidoo on Sunday February 10 2019, @09:29PM (4 children)
George Soros to the rescue? But there are too few like him to do much. You write like you don't understand the culture that arises around great wealth, power, and privilege. It's a very corrupting environment, and it turns the heads of most children who grow up in it. Spoils them. It's not good for us or them. The people deep in it strive to perpetuate it, in many ways. They get to thinking they're superior, and above the rules. They need constant humbling and watching and reining in every time they try to hurt someone else, and break a few dozen more rules.
Instead, there are plenty of pathetic little people who aspire to little more than to be rich men's poodles. They're in many ways the worse problem. They're the ones who elevate the powerful and rich, feed their overly large egos, and let them say and do anything they want. It's often their little hands that do the dirty work. And their limited thinking allows them to do the dirty deeds with an utter lack of awareness that it's immoral, anti-Christian, anti-democratic, fascist, illegal, reckless, damaging, or just plain stupid.
If anything is to be done, we the people have to do it. And actually, you can do many things. They will be little things, and many will have little to no effect. The first thing to do is stop the worship! You are pining for a billionaire to do something. Really? Stop that. Next is your vote. Vote for a 3rd party. But most of all, what can pay the most is to hone your senses so that you can tell when someone or some organization is trying to put one over on you, trying to give you the old shakedown, trying to tell you that something is customary and expected and everyone does it, trying to pull a "Permit Patty" on you. And then, don't fall for it!
And medicine abounds with examples of that. For some medical service that may have been a good idea, or may be overkill if not outright unnecessary, first, your health insurance refuses to cover it. Perhaps they are within the letter of their obligations, and perhaps not. They may be lying. Then you get the next lie, from the medical providers. If insured, your copayment would have amounted to 3% of the list price. Next thing you know, because you're not covered, the doctors are demanding you pay the full amount, the list price, and they threaten to turn you over to debt collectors if you don't pay. They may be willing to give you 20% off if you hurry up and pay quick, quick, quick. Yeah, you thought you would owe $30 (10% of the insurance adjusted rate of $300 rather than their fantasy berserk list price of $1000), but they want the full $1000, and are willing to settle for $800. That's more bull. It may be possible to tell them all to get lost. I was in that situation, and I offered to pay what Medicare said their services were worth. They refused, acting all indignant that I could think Medicare's prices were fair, and sicced the debt collectors on me. I turned them all away.
(Score: 2) by istartedi on Sunday February 10 2019, @11:51PM (2 children)
If you really did what you said, I simultaneously pity and admire you. Putting ourselves through that kind of stress generally isn't worthwhile. You're a drop in the bucket. Plip! Yes, most people who accumulate power stay within the system, but they don't *all* work the same way (Soros vs. Koch) and they don't all even play along that same axis (Musk, and perhaps a few other mavericks). Get real. Individuals are just dx. Organizations and the people who run them are the integral. Your actions are essentially meaningless unless you have the charisma to launch an effective general strike against the system.
Appended to the end of comments you post. Max: 120 chars.
(Score: 4, Interesting) by bzipitidoo on Monday February 11 2019, @01:59AM (1 child)
I fought the hospital for a year over that bill. Demanded the line item break down. Questioned their numbers, the items, the insurance adjustments. The bill just seemed too high. Their fantasy list price was $21k. Insurance adjusted it to about $4k, and I was on the hook for the entire amount thanks to the $6k deductible a lot of insurance plans have. They told me that if I didn't have insurance, they would discount the price a whopping 86%, for a bill of about $2.5k. Medicare says the services they provided were actually worth a bit under $300. I learned of medical billing advocates, and they pointed out 1 error in the bill, for a savings of $150. Weirdest of all was radically different prices for the same things. For 3 $2 bags of saline solution for which the hospital charged $307 each, insurance adjusted them to $150, $64, and $27 respectively. I wanted to know how that was not a mistake, and no one could explain it. It's their business to know, and they didn't. On 3 different calls to insurance, got 3 different wrong explanations by call center flunkies who pretended they knew. The many other times I called, they admitted they couldn't explain it either. I finally took the hints, and told the hospital to shove their insane bills. I paid what Medicare said their services were worth. I also finally heard from elsewhere what I think is the correct explanation, and I decided that if that was so, I did not agree with the system, and was not going to pay their prices regardless.
I realize that's a lot more effort than most people are willing or able to devote. Most of all, people would rather just believe in doctors, take them at their word that the medical organizations are asking a fair price, though they really do know better. I was even castigated for being "ungrateful". I was asked how could I cheat the doctors, as if they were holy ones, and questioning the bill was akin to stealing money from the collection plate at church on Sunday.
Another fight I fought was a red light camera ticket. I asked for a hearing, knowing that the system was rigged and I was unlikely to see any justice. What I was really aiming for was to deny them any profit. The cost of holding a hearing was very likely quite a bit more than the fine, and I understood the real motivation behind the system was money, safety be damned. Nevertheless, I prepared evidence of their cheating. The light was improperly timed, and I brought along proof of that. The judge wouldn't even look at my evidence, it was outside the scope of the hearing, and ruled against me. Said that I could pursue the matter of improper timing in municipal court. I decided against that. Had played their game quite enough and wasn't willing to go further with that mockery of justice, not in their own muni court, no way. If I was going to do that, I'd want a court outside their jurisdiction. Instead, I boycotted the city. I don't shop there any more.
So that's a sample of the sorts of things citizens ought to do. If a lot more citizens fought back against these sorts of injustices, many of these corrupt money grabs would collapse under their own expenses.
(Score: 2) by krishnoid on Monday February 11 2019, @07:00AM
I think in a lot of cases, they overcharge so they can negotiate down, and to try to cover some of the costs of indigent people who don't have anything they can collect. At least they provided medical care, though. Your insurance, though, all they do is have a computer spit out random numbers and then justify them with bad explanations.*
Seems like this is exactly the kind of thing local news is good at exposing, especially since they sometimes have to look for stories that aren't already all over the Internet already.
* Maybe it was a buy-one, get the next two cheap sale-ine.
(Score: 0) by Anonymous Coward on Monday February 11 2019, @01:02AM
The butlers, sycophants and such at least realize what they are doing. The worst are the people getting paid on government grants who still think their entire education and purpose hasn't been coopted.
(Score: 0) by Anonymous Coward on Sunday February 10 2019, @09:48PM
Poor South America, stuck behind the US in almost everything even criminal cartels. Hell, we even legalized ours! Bet El Chapo wishes he had thought of that!
(Score: 2) by sjames on Sunday February 10 2019, @11:31PM
How do you think they got to be billionaires in the first place? Certainly not by following any sort of market based model laid out by Smith.
(Score: 4, Insightful) by Anonymous Coward on Sunday February 10 2019, @07:15PM (4 children)
these people only respect power. until these pieces of shit have to worry about being held accountable they will keep doing whatever they want.
(Score: 4, Touché) by Thexalon on Sunday February 10 2019, @07:56PM (3 children)
I'm pretty sure between me and my engineering and construction buddies, we can build a functional guillotine. If things continue as they have for long enough, that's going to start looking like a pretty good option.
"Think of how stupid the average person is. Then realize half of 'em are stupider than that." - George Carlin
(Score: 2) by coolgopher on Monday February 11 2019, @12:23AM
If you've got engineering buddies, go for a trebuchet, they're much more interesting ;)
(Score: 2) by Azuma Hazuki on Tuesday February 12 2019, @01:46AM (1 child)
Like so many other things, this is a problem of political will, not technology. Yes, you can build any number of guillotines; how do you get the guilty parties under the blade?
I am "that girl" your mother warned you about...
(Score: 2) by Thexalon on Tuesday February 12 2019, @02:26AM
There are thousands of us for every 1 of them, numbers will eventually tell.
"Think of how stupid the average person is. Then realize half of 'em are stupider than that." - George Carlin
(Score: 0) by Anonymous Coward on Sunday February 10 2019, @07:30PM (14 children)
As these poisons get cheaper they will be more widely consumed and people will begin dying earlier from suicide, drug misdosing/interactions (poisoning), liver failure, etc.
(Score: 3, Insightful) by PartTimeZombie on Sunday February 10 2019, @09:28PM (13 children)
Yes, because since the advent of modern medicine, our lives have been getting shorter, and we die from lots of preventable diseases...
Oh, wait, it's the opposite.
Why don't you explain again how vaccines cause autism?
(Score: -1, Troll) by Anonymous Coward on Sunday February 10 2019, @09:37PM (5 children)
Here is the mechanism: Child is forced to take vaccine. Child gets autism. How hard is it to understand, when you have a direct cause and an effect like that.
(Score: 0) by Anonymous Coward on Sunday February 10 2019, @09:53PM (2 children)
I assume you're a troll, but I'll quote one of the most important scientific maxims. Correlation != causation.
(Score: 0) by Anonymous Coward on Sunday February 10 2019, @10:06PM
Measles vaccine success is based on correlation = causation though.
They never did an RCT, and at the same time as introducing the vaccine they also introduced blood tests (which are much more specific than clinical symptoms only) and a public health campaign to convince people to stop spreading measles on purpose (which a was a practice meant to ensure you got measles as a child rather than adult).
(Score: 2) by RandomFactor on Sunday February 10 2019, @10:31PM
Bit too over the top for a troll, I assumed it was sarcasm.
В «Правде» нет известий, в «Известиях» нет правды
(Score: 2) by PartTimeZombie on Monday February 11 2019, @02:52AM (1 child)
You might be interested to know that Andrew Wakefield lied about that and was struck off.
(Score: 0) by Anonymous Coward on Monday February 11 2019, @08:30PM
you might be interested to know that not everyone bases their opinions on a fucking meme!
(Score: 0) by Anonymous Coward on Sunday February 10 2019, @09:52PM (2 children)
You have to look since obamacare gave access to these substances to tease out the effect. "Modern medicine" overlaps with "modern sanitation" and "cheap energy" too much. The "medicine" is reducing lifespan while the other two have been increasing it.
(Score: 3, Informative) by PartTimeZombie on Monday February 11 2019, @02:43AM (1 child)
I was thinking about countries with proper healthcare, not that ridiculous cash-grab you guys suffer with in the US.
(Score: -1, Troll) by Anonymous Coward on Monday February 11 2019, @03:02AM
Yes, you left what is "proper" up to the government. Next is the EU (or whatever your local super-gov is called), then the UN. Easier to control.
Each level up means you have less control even under the ideal democracy scenario.
Do you disagree with any of this?
(Score: 2) by dry on Monday February 11 2019, @02:17AM (3 children)
Lots of places, lifetimes are getting shorter now. It is also at least partially attributable to drug companies. Drug company pushes opiate, often with lies about safety, patient gets hooked, can't get legal opiate, switches to black market and gets shitty opiate that kills them.
(Score: 2) by PartTimeZombie on Monday February 11 2019, @02:48AM (2 children)
When you say "lots of places" and "opiates" you're talking about "lots of places in the US" because you have the worst possible health system.
As far as I can tell, no other first-world country has the opiate problem you guys have, and we also have proper taxpayer funded healthcare.
Maybe not letting companies that sell medicine turn into street-corner drug pushers would be a start.
(Score: 2) by dry on Monday February 11 2019, @03:10AM
Actually I was including parts of Canada, BC in particular where the opiate crisis has set back the average males lifetime length prediction slightly.
[url:https://duckduckgo.com/?q=bc+opioid+crisis]
(Score: 0) by Anonymous Coward on Monday February 11 2019, @08:37PM
"proper taxpayer funded healthcare"
lmao! what a fucking slave. just wait, dipshit. if brain damaging (it's a verb, look it up) your own kids on command isn't enough, soon they will be giving you more instructions. like, your mom is too old, you have to push the button. or your son has been brainwashed to believe he is supposed to be a girl, you have to give him "the therapy". and so on, until you're a full time zombie. you're already half way there. congrats!
(Score: 4, Interesting) by Anonymous Coward on Sunday February 10 2019, @08:03PM (5 children)
Simple colon medicine price is one example of the pricing abuse
15 years ago I could get a month of medicine for $25 to $50 -- it now costs me $1000 to $2000 per month
Since they out-priced me from getting the simple medicine which would keep colitis in-check, I know I'm in for more expensive and invasive future treatments and pain in the not-to-distant future
current system doesn't work - reboot is needed
(Score: 3, Interesting) by Anonymous Coward on Sunday February 10 2019, @09:19PM (3 children)
I used to pay $300/month for 15 fentanyl patches, then they doubled the price. I detoxed from that horrible shit and went with marijuana... $300 worth of weed lasts 2 1/2 months, works better for chronic pain, and has less side effects. Those fentanyl patches probably only cost $1 to make. It's a legal drug cartel business, with lap dances and kickbacks to those that prescribe it.
(Score: 0) by Anonymous Coward on Sunday February 10 2019, @10:04PM (2 children)
And now they (government) will "legalize" weed which makes it 10x more expensive (watch the "murder mountain" documentary).
(Score: 2, Informative) by Anonymous Coward on Sunday February 10 2019, @11:12PM (1 child)
Grow yer own, even a shitty grower will get enough usable weed.
(Score: 2) by dry on Monday February 11 2019, @02:19AM
You need somewhere to grow. Most landlords won't allow it, same with condo associations.
(Score: 0) by Anonymous Coward on Monday February 11 2019, @08:39PM
you can probably change your diet long term and cure yourself. try that.
(Score: 3, Insightful) by jelizondo on Sunday February 10 2019, @10:53PM (3 children)
More real-world proof that free-market capitalism is not practiced in the US. Big players are allowed to tilt the market in their favor using every means possible without regard for law, morals or downright Christian charity.
Of course, if one says so, one is immediately labeled a picko communist, flag burning bastard out to destroy the US and who hates apple pie.
I’ll admit part of the label is true: I hate Apple, in pie or any other form. 😋
(Score: 1, Informative) by Anonymous Coward on Monday February 11 2019, @12:33AM (1 child)
The US has been in a gray area of crony-corporate-socialism since at least 1913. It is more a matter of quantity than quality.
(Score: 1, Touché) by Anonymous Coward on Monday February 11 2019, @01:28AM
Tell that to the Gaslighting Obstructing and Projecting peeps
(Score: 3, Insightful) by Azuma Hazuki on Tuesday February 12 2019, @01:49AM
Oh, on the contrary: regulatory capture is both the end result and the apotheosis of free-market capitalism; why, even the very government is for sale! And for bonus shits'n'giggles, the greedheads then tell people that *regulation itself* is bad.
To paraphrase: regulations don't kill people, people do.
I am "that girl" your mother warned you about...