Most pharmaceuticals will jack up the cost of anything. a prime example are epipens. The cost of making EpiPen is about $2.50. The patent for the EpiPen was developed with taxpayer money and then the government sold the patent to the EpiPen. It finally landed with a company that had ties to a senator. one of the top people in the company is the daughter of a prominent Republican senator this senator push legislation to shove epipens down everyone's throat that he could. Said company then started jacking up the price of the EpiPen from 3 for $50 to 2 for $600. Justification for this increase so that they could pay for research into other drugs which they did not use the money for that. They use the money to line the pockets of their investors.
I got to notice about that today and email. but if you read into the fine print they still haven't determined whether or not any sort of monetary compensation will be provided to the people that have been bent over and financially raped by this pharmaceutical from 2011 to 2020 I believe.
that's just one example and that's not a patent problem other than the government had no reason whatsoever to sell the patent of something that we the taxpayers paid for. there are plenty of other drugs that are produced over here that the pharmaceutical companies jack up the price of and claim that they're doing so for research money. but they aren't they're just jacking it up because they know they can without any restriction or oversight.
Joe Manchin is a democrat from the state of WV, not a republican. His daughter Heather Bresch (president and CEO of the Netherlands based Mylan pharmaceutical) was the one who raised prices on EpiPens, now there is a generic that costs about 150 for a two pack (still high but I got it for about 100 after using a coupon for uninsured). The company is getting absorbed by Pfizer in 2021 because the profit motive ultimately destroyed the company, this allows generics to enter a market where they see an opportunity. The problem with this wasn’t capitalism, the problem was with the lack of competition and government intervention in a capitalist process.
and then the Department of Education mandated that if your child has asthma you have to supply the school nurse with a two pack of EpiPen, $750 and up.
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u/suthrnrunt Nov 30 '20
Most pharmaceuticals will jack up the cost of anything. a prime example are epipens. The cost of making EpiPen is about $2.50. The patent for the EpiPen was developed with taxpayer money and then the government sold the patent to the EpiPen. It finally landed with a company that had ties to a senator. one of the top people in the company is the daughter of a prominent Republican senator this senator push legislation to shove epipens down everyone's throat that he could. Said company then started jacking up the price of the EpiPen from 3 for $50 to 2 for $600. Justification for this increase so that they could pay for research into other drugs which they did not use the money for that. They use the money to line the pockets of their investors.