Massive price increases in EpiPen raise alarms

[Rob L 3,811]

And negotiating contracts is one of Trump's platforms.

Will he change the laws that prohibit the US government from negotiating drug prices for Medicare and Medicaid? Because I think Dumb and dumber could save us some money if their hands weren't tied.

Edited August 28, 2016 by Rob L

[Rob L 3,811]

Will there be a bonus side effect, such as barking and spinning in a circle for the human population? ;-)

Reminds me of the old Ray Steven lyrics about the woman whos wigged out husband believes he is a chicken..

"Have you ever thought about findin' him a doctor who

Could make him well"

And she said "Well, I have now and then, but then again

He don't eat much just chickenfeed and all that peckin'

In the ground don't hurt nothin'...

Heaven knows, we can use the eggs"

[Jacque67 7,328]

We saw on the TV a few days ago that people couldnt get them so we put up the ad, said a Bronx man who gave his name as Mike Black and said his 5-year-old son has a peanut allergy.

He said he was selling an extra EpiPen Jr. 2-pack on Craigslist for $300 to help someone out.

In less than a day, Black said, he got four online inquiries about the pen. Ultimately he sold it for $180.

Another peddler, who said he was based in Chelsea, posted an ad asking $450. After a reporter contacted him, the seller deleted the ad.

An offering in Brownsville, Brooklyn for a $450 EpiPen Jr. pack was paired with the caption: No games no need for it found a different remedy for my boyfriend.

The offers come after pharmaceutical company Mylan NV jacked up the price of the drug by 600 percent. But experts say the EpiPen black market endangers buyers.

EpiPens are prescription-only for a reason. They have a short shelf life of about one year and need to be replaced. If people buy one . . . but its expired, they

could die, said Arthur Levin, director of the Center for Medical Consumers.

But sellers like Black dont care.

I help people, he said. So whoever is mad at that can go suck something.

http://nypost.com/2016/08/28/hustlers-are-selling-epipens-online-amid-600-price-hike/

[The Nature Boy 7,659]

Rump certainly knows about litigation and filing for bankruptcy protection procedures. I'll give him that much credit.

You have to give the Clinton's credit. They did not file bankruptcy when they left the White House broke. Maybe the fenced all the stuff they stole when they left

[Voice of Reason 10,298]

So do many companies in America. Thousands file for bankruptcy and reorganization every year. In some cases, it's simply smart business.

Rump certainly knows about litigation and filing for bankruptcy protection procedures. I'll give him that much credit.

[Rob L 3,811]

So do many companies in America. Thousands file for bankruptcy and reorganization every year. In some cases, it's simply smart business.

yes but 6 times? that is quite a few p

bankruptcies.

[yuna628 9,758]

yes but 6 times? that is quite a few p

bankruptcies.

It's funny when businesses do it, it's considered ''a great idea'', a ''sound business practice'', ''smart'', and a ''way to navigate the system''.

When the average person does it, suddenly they lack moral character and sound judgment, aren't financially responsible, are gaming the system, and have bill collectors calling telling them they are worthless scum.

Odd how that works.

[Jacque67 7,328]

Mylan NV (MYL.O) said it would launch the first generic version of its allergy auto-injector EpiPen at half the price of the branded product, the drugmaker's second step in less than a week to counter a wave of criticism over the product's high price.

The company reduced the out-of-pocket costs of EpiPen for some patients last week, but kept the list price at about $600, a move that lawmakers said was not enough. EpiPen cost about $100 in 2008.

Mylan said on Monday it expected to launch the generic product "in several weeks" at a list price of $300, an highly unusual move considering the branded product is still under patent protection and rival treatments have failed to get regulatory clearances.

Chief Executive Heather Bresch has defended EpiPen's high price, saying Mylan had spent hundreds of millions of dollars improving the product, including making the needle invisible, since acquiring it from Germany's Merck KGaA (MRCG.DE).

The company has said that it recoups less than half of EpiPen's list price because pharmacy benefit managers, which often require discounted prices or rebates from drugmakers, are involved, along with insurers and others.

"Our decision to launch a generic alternative to EpiPen is an extraordinary commercial response," Bresch said on Monday. "We determined that bypassing the brand system in this case and offering an additional alternative was the best option."

Netherlands-based Mylan said it also intends to continue to market and distribute branded EpiPen.

[Jacque67 7,328]

http://www.reuters.com/article/us-mylan-nl-pricing-idUSKCN1140YF

[Jacque67 7,328]

COUGH

Top Trump Backer Bets Big on Overpriced EpiPens

Outraged about EpiPen prices going up 450 percent? Meet the Trump-loving billionaire who owns a major chunk of the company.

Betsy Woodruff

BETSY WOODRUFF

08.25.16 9:50 AM ET

The recent price hike for lifesaving EpiPens is a nightmare for the people who need them and now cant afford them. But one of Donald Trumps top backers is hoping those EpiPens can become a financial bonanza. Hes bet hundreds of millions of dollars on the company that makes them.

As a result, hes connected to a headline-nabbing controversy that involves a storied hedge fund, a powerful pharmaceutical company, andnaturallyboth presidential candidates. As if 2016 wasnt interesting enough.

John Paulson is a billionaire, and he manages the Paulson & Co. hedge fund. Hes a generous supporter of Republican politicianshe gave a cool $500,000 to the Republican Governors Association in 2014, for instanceand hes one of the most powerful hedge fund guys to jump on the Trump Train. In June, he joined Trump at a $50,000-per-seat fundraiser at New Yorks tony Le Cirque restaurant.

Ouch!

http://www.thedailybeast.com/articles/2016/08/24/top-trump-backer-bets-big-on-overpriced-epipens.html

[Voice of Reason 10,298]

I know several people who have done it, one person twice. You're right, it's more of a blight on an individual. But in 3 years, all is well again, provided said individual manages their money better the second time around.

With business, it CAN be different, because you may be betting on income that may never happen. Or plan to use resources that become way more expensive than when the business plan was laid out. It's much more complicated than an individual just "blowing money".

It's funny when businesses do it, it's considered ''a great idea'', a ''sound business practice'', ''smart'', and a ''way to navigate the system''.

When the average person does it, suddenly they lack moral character and sound judgment, aren't financially responsible, are gaming the system, and have bill collectors calling telling them they are worthless scum.

Odd how that works.

[OriZ 3,157]

I know several people who have done it, one person twice. You're right, it's more of a blight on an individual. But in 3 years, all is well again, provided said individual manages their money better the second time around.

With business, it CAN be different, because you may be betting on income that may never happen. Or plan to use resources that become way more expensive than when the business plan was laid out. It's much more complicated than an individual just "blowing money".

I'd argue that makes ya a pretty bad business person.

[yuna628 9,758]

I know several people who have done it, one person twice. You're right, it's more of a blight on an individual. But in 3 years, all is well again, provided said individual manages their money better the second time around.

With business, it CAN be different, because you may be betting on income that may never happen. Or plan to use resources that become way more expensive than when the business plan was laid out. It's much more complicated than an individual just "blowing money".

I know someone that has done it many times as if it's second nature, and makes no lifestyle choices or learns a thing after each bankruptcy is over.

I see no difference between a business doing it and a person doing it (businesses are run by people and the choices and faults they make are the same). There are many small and large businesses that make actual smart choices about managing their money and do not resort to going bankrupt. If you are constantly betting on income that never happens and are running a shamble operation to the point you use bankruptcy as a crutch six times, you've got a serious problem.

I'd argue that makes ya a pretty bad business person.

Yep. I just can't see anything smart about it.

[Póg mo 1,749]

https://www.theguardian.com/commentisfree/2016/aug/29/epipen-price-drug-monopolies-mylan

Many companies have effectively outsourced their R&D to federally funded academic research. Under existing law, federal funding of R&D requires companies to offer the medicine on reasonable terms. If they do not, we can demand generic versions for federal programs like VA hospitals, and pay a royalty in return. Or, we can simply break the patent for everyone.

In fact, we may not be limited to publicly funded pharmaceuticals. The federal government technically has the power to suspend a patent altogether. In 2003, the Bush administration threatened the maker of anthrax medicine Cipro with exactly that power.

Moving forward, all new patents could include far-stricter cost protections that link prices to median income. Or, if you prefer a more flexible system, you could incentivize innovation with hefty cash prizes, but place the resulting drugs in the public domain.

Instead, today, companies take advantage of taxpayers funding $32bn of research and development each year. Consider that the precursor to the EpiPen was the ComboPen, a product developed with public funds to protect our armed forces. When companies do invest their own money, it is often in drugs that generate steady long-term profits (like fighting baldness), rather than one which would cure a deadly disease but only be needed for two weeks.

[Dakine10 5,452]

I know several people who have done it, one person twice. You're right, it's more of a blight on an individual. But in 3 years, all is well again, provided said individual manages their money better the second time around.

With business, it CAN be different, because you may be betting on income that may never happen. Or plan to use resources that become way more expensive than when the business plan was laid out. It's much more complicated than an individual just "blowing money".

Trump lost his shirt the first time he filed. He did learn from that. All the other bankruptcies filed by Trump corporation did not touch his personal wealth. However somebody was still left holding the bag. Talk to investors, shareholders and employees of corporations that file for bankruptcy to see who wins and who loses. Trump came out of bankruptcy OK, doesn't mean every one else did.

No one will argue that what Trump did was good for Trump, but anyone who argues for that business acumen being successful at the federal level really needs to think twice. Easy guess who will be left holding the bag.