Fun little game here
- Thread starter NYShoreGuy
- Start date
But its good for your preference when twitter and political grandstanding is in your pov
Well that just shows that you don't pay any attention....
The Pharma industry (like any other) is not without it's bad actors and if you were paying attention, you know I am very critical regarding our consumption based system where we take almost 40% of the entire Rx's that are produced globally.
But you think that ignorant, grand-standing politician would also recognize that three of those big bad Pharma companies, innovated and have been delivering the vaccines for hundreds of millions of people in the U.S. and around the world?
On the litigation, did Abvie initiate it? How much of that money was spent defending themselves from frivolous lawsuits?
And she talks about shareholders....do you know how many 401K plans have Abvie in their portfolio?
Personally, I think the marketing budgets and DTC spending are out of line, but that's up to Congress to legislate.
We want to kill Big Pharma until they save our life with a COVID vaccine or fatten our wallets by investing in them.
marketing alone proves the point. and im someone who is being paid for just that by abbvie.
I always follow the money...25 years ago, the title sponsors at hospital golf outings were Pharma and Med Device companies (which Sunshine Act legislation put a stop); now its law firms, construction companies and insurers.
Most of Pharma marketing now is DTC advertising but patient assistance programs fall under that line too, so there is some good to the poor that is directly delivered.
Can’t it both be true, that some Big Pharma companies charge outrageous prices even though they spend much more on marketing and that some big pharma do amazing work developing medications and vaccines?
This is not an either or proposition in my opinion.
but it sounds like just because you acknowledge pharma marketing its ok to dismiss it as proving the main point here.
main point stands on marketing budget alone. dtc? come on. everything else jist piles on
the main point is that research budget was cited as the reason for the astronomical prices. but its one of the smallest budgets. smaller than marketing which is mainly DTC. that alone proves the point. just because one areas like stakeholders might have a portion of it be legitimate doesnt fold her entire point.
i think you knew what you were doing shifting the convo that way.
Wow, you are making some leaps there. She used exaggerations to make her point. Of course Pharma justifies their pricing positions but I don’t need a grandstanding politician to tell me that.
then save money by cutting DTC marketing , which is a higher cost, and pass the savings to the consumers. i can tell you first hand it doesnt really even work.
I don’t disagree with you on that. Several years ago there was a commercial during the Super Bowl about a drug that specifically was for constipation from opioids. How big can that market be?
There is a relationship obviously between the amount of money spent on research and the development of new drugs.The prices are highest in the US because the US pricing supports the research.Other countries get lower prices because they would not purchase the amount they currently do if US pricing applied.Trump introduced an initiative to get the same level pricing in the US as in other countries.Medicare is not permitted to negotiate pricing under current rules.The key is the pharmacy lobby ,they give money to both Dems and republicans and have historically been very powerful.As a surviving cancer patient who was given a drug that was in a trial which I was very thankful for but was shocked it cost 85k for each infusion and the protocol was 4 infusions.I was further surprised that my benefits statement indicated MSK was only reimbursed 45k and my out of pocket was 1k.I asked my son who is a CEO of a medical center how MSK could afford this.He informed me that it was a little behind the curtain way that the 11 major cancer centers get exception billing.The balance of the first bill ( 39k) was allowed to be resubmitted and paid under this exception provided by Medicare.So now you can see in this one example how drug care pricing isn’t all it seems on the surface.
haha well if its opioids its probably massive. my indication has 1.4m. relatively small for a commerical imo.
People tend to forget about how much of public shares are held in DC/DB plans. I was always amused when I saw things like “BlackRock owns 5% of this or that company” when I’m reality is BlackRock is a pure asset manager holding investments in funds and separate accounts on behalf of clients.
I remember when BlackRock had this stupid marketing campaign that was all about the fact that the assets they held were in the plans of the teachers, the firefighters… the message was fine, the adds were ludicrous.
