A drug company’s goal is to increase revenue. Cost efficiency, value for the money? Not their department.
On Feb. 10, Valeant Pharmaceuticals International Inc.bought the rights to a pair of life-saving heart drugs. The same day, their list prices rose by 525% and 212%.
Medicynical Note: Health care in case you didn’t notice is a perfect set up for blackmail. The companies have something you think you want, something that you have been told you must have in order to survive. Insurers are a buffer and in part delay the effects of price increases on drugs and pay the increased prices. So companies raise prices whenever and however they can. They think they can get away with it so they do it.
How else to explain the above increases? How else to explain the fact that today we are paying in multiples of our median and average incomes for a single medications which most often are of modest value. Panaceas? Cures? Not these. But cash cows for Big Pharma and investors, yes.
What about regulations on prices? What about some pay back for government funded research? Both were given away by congressmen/women who guess what, receive lots of money from drug companies. It’s a corrupt vile system. But really it’s just business…….as usual.