other one Posted September 23, 2015 Group: Worthy Ministers Followers: 29 Topic Count: 599 Topics Per Day: 0.08 Content Count: 56,260 Content Per Day: 7.56 Reputation: 27,988 Days Won: 271 Joined: 12/29/2003 Status: Offline Share Posted September 23, 2015 God's Word, Scripture, tells us the TRUTH. He did not lie. He knew what would be happening all along, when Jesus was crucified, the next 500 years, and the next 1500 years.... all no surprise to Yahweh.His Word covers all the bases. ((so to speak)).Men do not respect, honor, or obey His Word. (('too' obvious?))....Corporations do not respect, honor, or obey His Word. ... again.... 'too' obvious ? And I say that you are not in any position to pass judgment on that.... you have no idea on how much is invested in purchasing the drug nor how much it costs for them to make it being the new owners......If it's totally out of place, insurance companies won't pay for it and the price will come down or will not be available on the market..... it's as simple as that. Link to comment Share on other sites More sharing options...
Logan Posted September 23, 2015 Group: Diamond Member Followers: 22 Topic Count: 32 Topics Per Day: 0.01 Content Count: 1,849 Content Per Day: 0.47 Reputation: 2,013 Days Won: 24 Joined: 07/08/2013 Status: Offline Birthday: 10/15/1996 Share Posted September 23, 2015 Isn't the point of operating a business to make money?Good point.But how much money after you have paid your overhead?Millions?Billions?when does corruption and greed come into the picture?right after this point is passed : 1 Timothy 6:8 But if we have food and clothing, we will be content ...biblehub.com/1_timothy/6-8.htm And having food and raiment let us be therewith content. Holman Christian ... With food to eat and clothes to wear; content we are in everything. NET BibleGood passage.I agree.This is completely directed at Christians in our personal lives and says absolutely nothing about a corporation. Link to comment Share on other sites More sharing options...
other one Posted September 23, 2015 Group: Worthy Ministers Followers: 29 Topic Count: 599 Topics Per Day: 0.08 Content Count: 56,260 Content Per Day: 7.56 Reputation: 27,988 Days Won: 271 Joined: 12/29/2003 Status: Offline Share Posted September 23, 2015 This company paid 55 million dollars last month for the drug. It is a specialty drug which means that they don't sell a whole lot of it. The main problem I see here is paying that kind of a price for a 62 year old drug that isn't used very much.... it's used to kill parasites that we get in food not properly prepared. Even if they make a hundred dollars a pill, they would have to sell a half million of them to break even. Greed, or just a dumb investment? Link to comment Share on other sites More sharing options...
missmuffet Posted September 23, 2015 Group: Royal Member Followers: 34 Topic Count: 1,993 Topics Per Day: 0.48 Content Count: 48,691 Content Per Day: 11.76 Reputation: 30,343 Days Won: 226 Joined: 01/11/2013 Status: Offline Author Share Posted September 23, 2015 This company paid 55 million dollars last month for the drug. It is a specialty drug which means that they don't sell a whole lot of it. The main problem I see here is paying that kind of a price for a 62 year old drug that isn't used very much.... it's used to kill parasites that we get in food not properly prepared. Even if they make a hundred dollars a pill, they would have to sell a half million of them to break even. Greed, or just a dumb investment?I guess that is your choice. Link to comment Share on other sites More sharing options...
other one Posted September 23, 2015 Group: Worthy Ministers Followers: 29 Topic Count: 599 Topics Per Day: 0.08 Content Count: 56,260 Content Per Day: 7.56 Reputation: 27,988 Days Won: 271 Joined: 12/29/2003 Status: Offline Share Posted September 23, 2015 This company paid 55 million dollars last month for the drug. It is a specialty drug which means that they don't sell a whole lot of it. The main problem I see here is paying that kind of a price for a 62 year old drug that isn't used very much.... it's used to kill parasites that we get in food not properly prepared. Even if they make a hundred dollars a pill, they would have to sell a half million of them to break even. Greed, or just a dumb investment?I guess that is your choice.Probably a little of both....... It's my understanding that this is a new company and they are just starting to get into the business.... It's not an easy thing to do. Last I read on the subject the CEO had said they would lower the price to make less profit so we'll see how it goes. Link to comment Share on other sites More sharing options...
other one Posted September 23, 2015 Group: Worthy Ministers Followers: 29 Topic Count: 599 Topics Per Day: 0.08 Content Count: 56,260 Content Per Day: 7.56 Reputation: 27,988 Days Won: 271 Joined: 12/29/2003 Status: Offline Share Posted September 23, 2015 This is the best article I've seen on the situation... Pure capitalism at it's core. http://www.huffingtonpost.com/entry/daraprim-price-turing-shkreli_560063cee4b00310edf82060 They have done the same thing to the drug my wife takes for M.S. three times in the past 20 years.... Thank you all for paying your outrageous insurance premiums so my wife can still walk. Link to comment Share on other sites More sharing options...
thereselittleflower Posted September 24, 2015 Group: Royal Member Followers: 6 Topic Count: 58 Topics Per Day: 0.02 Content Count: 5,457 Content Per Day: 1.68 Reputation: 4,220 Days Won: 37 Joined: 07/01/2015 Status: Offline Share Posted September 24, 2015 If the alternatives are still more than this is...then this must not be so outrageousIt's outrageous because it costs $1 to make. what it costs to make is totally irrelevant.It is extremely relevant. People were able to buy it for $13.50 before the new owner obtained the drug.That's a 1,250% profit already. Link to comment Share on other sites More sharing options...
missmuffet Posted September 24, 2015 Group: Royal Member Followers: 34 Topic Count: 1,993 Topics Per Day: 0.48 Content Count: 48,691 Content Per Day: 11.76 Reputation: 30,343 Days Won: 226 Joined: 01/11/2013 Status: Offline Author Share Posted September 24, 2015 If the alternatives are still more than this is...then this must not be so outrageousIt's outrageous because it costs $1 to make. what it costs to make is totally irrelevant.It is extremely relevant. People were able to buy it for $13.50 before the new owner obtained the drug.That's a 1,250% profit already. I agree. Link to comment Share on other sites More sharing options...
other one Posted September 24, 2015 Group: Worthy Ministers Followers: 29 Topic Count: 599 Topics Per Day: 0.08 Content Count: 56,260 Content Per Day: 7.56 Reputation: 27,988 Days Won: 271 Joined: 12/29/2003 Status: Offline Share Posted September 24, 2015 If the alternatives are still more than this is...then this must not be so outrageousIt's outrageous because it costs $1 to make. what it costs to make is totally irrelevant.It is extremely relevant. People were able to buy it for $13.50 before the new owner obtained the drug.That's a 1,250% profit already. but you are assuming that even as a startup company they can reproduce it at the same cost..... and what about the 55 million dollars they paid for the rights to produce it....... and remember it's a generic now so any other company can go through the generic qualifications from the FDA and sell the drug themselves. This gives them a couple of years at the most to be the sole market provider..... I think it sucks, but it's just the business in this country. Unless you want to get the government in the decision making on who makes and distributes drugs. Link to comment Share on other sites More sharing options...
thereselittleflower Posted September 24, 2015 Group: Royal Member Followers: 6 Topic Count: 58 Topics Per Day: 0.02 Content Count: 5,457 Content Per Day: 1.68 Reputation: 4,220 Days Won: 37 Joined: 07/01/2015 Status: Offline Share Posted September 24, 2015 (edited) If the alternatives are still more than this is...then this must not be so outrageousIt's outrageous because it costs $1 to make. what it costs to make is totally irrelevant.It is extremely relevant. People were able to buy it for $13.50 before the new owner obtained the drug.That's a 1,250% profit already. but you are assuming that even as a startup company they can reproduce it at the same cost..... and what about the 55 million dollars they paid for the rights to produce it....... and remember it's a generic now so any other company can go through the generic qualifications from the FDA and sell the drug themselves. This gives them a couple of years at the most to be the sole market provider..... I think it sucks, but it's just the business in this country. Unless you want to get the government in the decision making on who makes and distributes drugs.You've made me look into this further. Part of what prompted my reactions were the flippant tweets that suggested the CEO was an unfeeling (explicative).If he had said in his tweets what was said in this article, I think the uproar would be much less.Here is what I found:Turing's Shkreli says those figures justify the firm's pricing strategy following its acquisition of Daraprim for $55 million. He says that at its previous price, the drug produced only $5 million in annual revenue for its rights holder. That made it a quintessential orphan drug, since no manufacturer could justify an investment either to improve the formula or bring out a generic version. The result was no improvement in treatment for toxoplasmosis in 62 years. Shkreli says Turing expects its Daraprim deal to be profitable, but will put at least some of the new revenue into research and development for an improvement and toward new drugs for other parasitical diseases. "We're not going to take this money and put it in our pocket or pay ourselves a dividend," the 32-year-old entrepreneur told me. "We're not going to stop until we've eliminated toxoplasmosis."He also says the company has taken steps to ensure that no patients go without Daraprim because of its cost or the unwillingness of pharmacy managers to stock it. Last week the company announced a special program aimed at ensuring "quick, efficient access for patients in need" and served by federally funded health programs. Shkreli says that Turing discounts about half of Daraprim sales to about $1 per 100-pill bottle. Rima MacLeod, a toxoplasmosis expert at the University of Chicago, was quoted in USA Today last week saying that none of her patients has yet lost access to Daraprim because of the price increase. "Turing’s people have been helpful every single time," she said. http://www.latimes.com/business/hiltzik/la-fi-mh-a-huge-spike-in-the-cost-of-an-old-drug-20150921-column.html Edited September 24, 2015 by thereselittleflower Link to comment Share on other sites More sharing options...
Recommended Posts