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  • Geebo 8:00 am on June 25, 2019 Permalink | Reply
    Tags: collusion, drug prices, , , ,   

    Are drug companies colluding to raise prices? 

    Are drug companies colluding to raise prices?

    Previously, we’ve discussed a lawsuit against the country’s generic drug makers by 44 state Attorney’s General. The AGs claim that the pharmaceutical companies in question are colluding to keep the prices of generic drugs at the same inflated rate. Normally, when a patent expires on a brand name drug, it allows other drug manufacturers to make the exact same drug for cheaper. However, the lawsuit states that at least 20 companies are conspiring to keep generic drug prices from being competitive.

    Yesterday, the full details of the federal lawsuit were made public and included a number of codewords that the pharmaceutical companies used in discussions between each other. For example, ‘fluff pricing’ would refer to one of the companies charging a much more exorbitant price for a particular drug to maintain an illusion of competition. Whereas ‘playing nice in the sandbox’ allegedly referred to the companies not making trouble for each other. The lawsuit even alleges that the companies have tried to cover their tracks by instituting a no email policy and that they only communicate by phone.

    Artificially inflated drug prices can also affect the facilities that carry them and the insurance carriers that try to help pay for them. However, in the end, it’s inevitably the patient who has to shoulder the brunt of the cost. If the allegations in the lawsuit are true then the people in true need of these medications become nothing more than hostages paying an ever-increasing ransom to crooked companies.

     
  • Geebo 8:00 am on June 17, 2019 Permalink | Reply
    Tags: , drug prices, ,   

    Insulin prices are killing patients! 

    Insulin prices are killing patients!

    We think that it goes without saying that Diabetes is no joke. The metabolic disorder can affect anyone regardless of age, social status, or background. This requires the majority of diabetes patients to be on an insulin regimen for the rest of their lives. When insulin was first discovered the people who first discovered it refused to commercialize the drug claiming that it seemed unethical to profit from such a critical and life-saving drug. However, it seems like today’s pharmaceutical manufacturers have no such qualms about prioritizing profits over treatment.

    Over the past decade or so, prices of insulin have skyrocketed even though there have been no major advancements in the manufacturing process. While there are three companies that make insulin in the US, their prices aren’t what you could consider competitive as they’re all equally expensive pricing insulin out of the reach of many who need the drug to live. This has led many patients to try to ration their insulin supply which isn’t recommended. This can and has led to some patients dying from lack of insulin. This has forced many people seeking treatment to buy their insulin in Canada where not only can you buy insulin over the counter but you can buy it at a tenth of the US price.

    However, this is not a viable option for most diabetes patients. Some can hardly afford to leave their own city let alone travel to Canada. This has led to people forming ‘grey markets’ where they can buy or trade for supplies to help treat their diabetes. In what is supposed to be one of the most medically advanced countries in the world, people are dying because they can’t afford a drug that they need just to survive. Something can be done about this, however, those who control the supply refuse to do anything.

     
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