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Drug Manufacturer Jacks Price Of Lifesaving Drug 1000 Percent
Topic Started: Apr 10 2016, 12:48 PM (589 Views)
Member013

J. Michael Pearson is the CEO of Valeant Pharmaceuticals International, a company known for buying up drug patents and then jacking up the prices. He made over $10 million in compensation last year, between his salary and stock options.

Under Pearson's leadership, a drug used to treat a rare liver disease has risen in price from $4,000 a month to $44,000 per month, which is not only immoral, it ought to be entirely illegal.

Valeant's cynical explanation for their reasons for jacking up the prices will make you sick.

http://crooksandliars.com/2016/04/drug-manufacturer-jacks-price-drug-1000
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estonianman
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Sunshine Superman
Apr 10 2016, 12:48 PM
J. Michael Pearson is the CEO of Valeant Pharmaceuticals International, a company known for buying up drug patents and then jacking up the prices. He made over $10 million in compensation last year, between his salary and stock options.

Under Pearson's leadership, a drug used to treat a rare liver disease has risen in price from $4,000 a month to $44,000 per month, which is not only immoral, it ought to be entirely illegal.

Valeant's cynical explanation for their reasons for jacking up the prices will make you sick.

http://crooksandliars.com/2016/04/drug-manufacturer-jacks-price-drug-1000
The fact that the government grants a monopoly to this drug should be illegal.

That said - any justification for the price hike? or we just get the tears?
MEEK AND MILD
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Robert Stout
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estonianman
Apr 10 2016, 12:57 PM
Sunshine Superman
Apr 10 2016, 12:48 PM
J. Michael Pearson is the CEO of Valeant Pharmaceuticals International, a company known for buying up drug patents and then jacking up the prices. He made over $10 million in compensation last year, between his salary and stock options.

Under Pearson's leadership, a drug used to treat a rare liver disease has risen in price from $4,000 a month to $44,000 per month, which is not only immoral, it ought to be entirely illegal.

Valeant's cynical explanation for their reasons for jacking up the prices will make you sick.

http://crooksandliars.com/2016/04/drug-manufacturer-jacks-price-drug-1000
The fact that the government grants a monopoly to this drug should be illegal.

That said - any justification for the price hike? or we just get the tears?
I suggest that the government seize the assets of "big pharma" as they are a terrorist enterprise....Thank God we already have the Patriot Act................. :victory:
Jesus can raise the dead, but he can't fix stupid
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Member013

estonianman
Apr 10 2016, 12:57 PM


That said - any justification for the price hike? or we just get the tears?


I know my theory. What's yours?
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estonianman
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Sunshine Superman
Apr 10 2016, 03:24 PM
estonianman
Apr 10 2016, 12:57 PM


That said - any justification for the price hike? or we just get the tears?


I know my theory. What's yours?
I am not sure? to recoup the costs of trials? being a rare disease it probably had a high cost of development vs low volume.
MEEK AND MILD
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CautionaryTales
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Here is a quote from the article


Valeant defended itself, saying in a statement that it “prices its treatments based on a range of factors, including clinical benefits and the value they bring to patients, physicians, payers and society.” It says patients are largely shielded from price increases by insurance and financial assistance programs the company offers, so that virtually no one is denied a drug they need.

------
Not a word about the cost of trials.
Edited by CautionaryTales, Apr 10 2016, 03:40 PM.


Have you paid your internet taxes?
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estonianman
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CautionaryTales
Apr 10 2016, 03:39 PM
Here is a quote from the article


Valeant defended itself, saying in a statement that it “prices its treatments based on a range of factors, including clinical benefits and the value they bring to patients, physicians, payers and society.” It says patients are largely shielded from price increases by insurance and financial assistance programs the company offers, so that virtually no one is denied a drug they need.

------
Not a word about the cost of trials.
Was he actually quoted saying that insurance will pay whatever so he can charge whatever?

MEEK AND MILD
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CautionaryTales
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estonianman
Apr 10 2016, 04:04 PM
CautionaryTales
Apr 10 2016, 03:39 PM
Here is a quote from the article


Valeant defended itself, saying in a statement that it “prices its treatments based on a range of factors, including clinical benefits and the value they bring to patients, physicians, payers and society.” It says patients are largely shielded from price increases by insurance and financial assistance programs the company offers, so that virtually no one is denied a drug they need.

------
Not a word about the cost of trials.
Was he actually quoted saying that insurance will pay whatever so he can charge whatever?

I posted what was in the article. It was a statement from the company.
Interpret it as you wish.
Edited by CautionaryTales, Apr 10 2016, 04:23 PM.


Have you paid your internet taxes?
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estonianman
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CautionaryTales
Apr 10 2016, 04:21 PM
estonianman
Apr 10 2016, 04:04 PM
CautionaryTales
Apr 10 2016, 03:39 PM
Here is a quote from the article


Valeant defended itself, saying in a statement that it “prices its treatments based on a range of factors, including clinical benefits and the value they bring to patients, physicians, payers and society.” It says patients are largely shielded from price increases by insurance and financial assistance programs the company offers, so that virtually no one is denied a drug they need.

------
Not a word about the cost of trials.
Was he actually quoted saying that insurance will pay whatever so he can charge whatever?

I posted what was in the article. It was a statement from the company.
Interpret it as you wish.
I get that - but that part was outside quotes.
MEEK AND MILD
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CautionaryTales
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estonianman
Apr 10 2016, 04:28 PM
CautionaryTales
Apr 10 2016, 04:21 PM
estonianman
Apr 10 2016, 04:04 PM

Quoting limited to 3 levels deep
I posted what was in the article. It was a statement from the company.
Interpret it as you wish.
I get that - but that part was outside quotes.
That is where the interpretation comes into play. The "payer" in the quotes could be the patient, or an insurance company...or a desperate parent or child.


Have you paid your internet taxes?
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Robert Stout
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At $44,000 a month, I choose to become a heroin addict; no pain, no fear, and save $40,000 a month.................... :nana:
Jesus can raise the dead, but he can't fix stupid
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estonianman
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Robert Stout
Apr 10 2016, 05:22 PM
At $44,000 a month, I choose to become a heroin addict; no pain, no fear, and save $40,000 a month.................... :nana:
Oxycontin generics will save you even more.

A government approved physician will still have to give you permission to take the drugs though.
Edited by estonianman, Apr 10 2016, 05:32 PM.
MEEK AND MILD
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