Do you think Pharmaceutical Companies have the right to mark up HIV treatment by 2000% from production to sale?

If you believe this to be unethical, who do you think ought to stop this?

Update:

Invisible: actually, people do make their own drugs, bootleg versions of the ones from the pharmaceuticals that cost about 3-5% less. Because the pharmaceutical prices are about equivalent to 4 year's worth of salary in many of the countries hit hardest by HIV.

Of course, the pharmaceuticals are doing their best to sue.

Update 2:

Sorry Viking, I've just got a book.

"Bad Samaritans" by Ha-Joon Chang, a Cambridge Economics professor who's worked as a consultant for the World Bank, Asian Development Bank, Brazil, Canada, Japan, South Africa, the UK, Venezuela, and several US agencies. Also is on the editorial board of the Cambridge Journal of Economics. Guy knows his ****.

Update 3:

Oh and Viking, our government has plenty of provisions for seizing necessary goods. During the anthrax scare we seized about 80% of available anthrax vaccines.

But of course, when its other countries, we have no problem with selling something at 2000% of its cost.

10 Answers

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  • 1 decade ago
    Favorite Answer

    People can talk of rationing in Universal Health Care but it's not rationing at all, in many cases drugs are not sanctioned by NICE and other such bodies for three specific reasons. Firstly the drugs have not been assessed properly and are still in the trials stage, secondly the same treatment and results can be achieved by using either cheaper generic drugs or by a combination of other treatments and finally a failure to reach a negotiated reasonable price with the drugs companies.

    Quote:

    http://www.pubmedcentral.nih.gov/articlerender.fcg...

    Like most other countries, the British have a national board that negotiates with the industry. Pharmaceutical companies like to portray this approach, which is nearly universal outside the United States, as “price controls” that can “never work.” In fact, nationally negotiated price schedules have worked well for years and saved billions. The British approach goes further, by rewarding breakthrough research and discouraging “me too” research or patent manipulation.

    It regulates profits, not prices, by having companies submit financial records and by determining set proportions for expenditures (e.g., a limit of 7% of sales for spending on marketing) on in-patent branded drugs. If prices result in higher profits than allowed, the excess profits are paid back. The British approach both ensures and limits profits.

    Meanwhile, providers are given drug budgets within which they have to live. Any other nation or large buyer can learn from this system.

    Indeed in the past companies such as Hoffman La Roche were manufacturing valium for a relatively small amount of money only to sell it on at a price greater than the value of gold.

    http://books.google.co.uk/books?id=Tq89AAAAIAAJ&pg...

    The Drugs Companies are currently up in arms over parralel trading where by drugs can be bought by organisations such as the British NHS at the cheapest rate in cross border and international markets including the European Free Market rather than being held hostage by the drug companies. There has also been a rise in the use of generic drugs, out of patent drugs sold under a non-brand name by the British NHS and other such organisations.

    http://www.urchpublishing.com/publications/pharma_...

    http://www.medicalnewstoday.com/articles/44879.php

    The Drugs Companies argue that this hits their profits and ability to invest in research, but then again they would say that, and the truth is they still make massive profits and are still investing heavily in research, whilst corporate greed does nobody any favours apart from city traders and shareholders.

  • 4 years ago

    Pharmaceutical Companies are in the business of making money, this is true. However, they cannot make money if their drugs do not work. I am a sufferer of several mental health diseases including Post Traumatic Stress Disorder, Bipolar Disorder, and anxiety/panic disorder. I have never been prescribed lithium. But I now take about 7 different medications a day. I can fairly well function in today's world. I have my good days, my bad days, and my so-so days. Without medication I would not be able to type this answer. My last job was my own Computer Consulting Business. I was making good money and enjoying what I was doing. Then one day I sat down in front of a computer and could not remember how to turn it on, let alone fix it. My business went bust. I went bankrupt and lost my house. With the help and love of my wife and the Veterans Administration Hospital I have medications and group therapy. I have stayed retired, but for the most part I have enjoyed the last 10 years. Do what you believe is right for you. I believe in the doctors, medications, and therapies. Good luck to you.

  • 1 decade ago

    Patents only last so long, and a company would have no incentive to bother with the research and the FDA application if they could not hope to recover their costs. The production cost of a drug is a tiny percentage of the true cost. When you study economics someday, pay close attention to the difference between marginal cost and average cost.

  • Anonymous
    1 decade ago

    You are suggesting something that may or may not be true. Got a link?

    And if a pharmaceutical company does make a profit, how much should it be? If you make a product, how much should your profit be? 100%? 200%? Who should tell you how much your profits should be? The government? Be careful what you wish for.

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  • Anonymous
    1 decade ago

    I think that since the vast majority got it by having low morals and sticking body parts into holes God did not intend, they should pay whatever the pharma industries asks for. They do have another option. If I developed a one pill cure, I would market it for 2 million a pill.

  • Anonymous
    1 decade ago

    Unethical or not its theyre product as long as youre willing to pay supply and demand

  • Anonymous
    1 decade ago

    You could always invent your own drugs.

    Do you have a clue how much it costs to bring a drug to market? All of those costs and the costs of failed attempts must be factored into the costs.

  • Anonymous
    1 decade ago

    Not at all, especially considering that originally research grants were given out liberally for such things.

  • Anonymous
    1 decade ago

    They are the Ultimate Legal Drug Pushers of our time . Really their ruthless mentality is not that different then a drug pusher on the street . They have got people by the throat .

  • Anonymous
    1 decade ago

    There's profit in sickness....why else haven't they found a cure for the costly sickness's but can cure chickenpox?

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