Costco Drugs

[Kevin M. Leonard]

Originally Posted by mlarson

If you have something more recent comparing Canadian and U.S. drug pricing please post it.

Prescription drug prices in the United States are the highest in the world. "The prices Americans pay for prescription drugs, which are far higher than those paid by citizens of any other developed country, help explain why the pharmaceutical industry is — and has been for years — the most profitable of all businesses in the U.S. In the annual Fortune 500 survey, the pharmaceutical industry topped the list of the most profitable industries, with a return of 17% on revenue

Critics of pharmaceutical companies (That would be US pharmaceutical companies) point out that only a small portion of the drug companies' expenditures are used for research and development, with the majority of their money being spent in the areas of marketing and administration.

http://en.wikipedia.org/wiki/Prescri..._United_States

It's not a comparison chart but....

[Michael Larson]

Originally Posted by kleonard

Critics of pharmaceutical companies (That would be US pharmaceutical companies) point out that only a small portion of the drug companies' expenditures are used for research and development, with the majority of their money being spent in the areas of marketing and administration.

http://en.wikipedia.org/wiki/Prescri..._United_States

It's not a comparison chart but....

"The average cost, a 2003 study published in The Journal of Health Economics shows, can be as much as $800 million"

That's for one drug. Doesn't sound small to me. ML

What do we get for the higher prices we pay? We get such drugs as Byetta. Introduced last year by Amylin Pharmaceuticals and Eli Lilly, this anti-diabetic drug works in a different way than insulin does - and without some of the side effects, such as weight gain, that lead many patients to take less-than-prescribed doses of the medication.

August 15, 2006
Don't kill off life-saving drugs

[Kevin M. Leonard]

Forgot this little tid-bit of information.

The pharmaceutical industry spent $855 million, more than any other industry, on lobbying activities from 1998 to 2006, according to the non-partisan Center for Public Integrity

[Michael Larson]

Originally Posted by kleonard

Forgot this little tid-bit of information.

The pharmaceutical industry spent $855 million, more than any other industry, on lobbying activities from 1998 to 2006, according to the non-partisan Center for Public Integrity

That's less than the cost of bring one drug to market(inflation adjusted)

Ask yourself why they spend so much money lobbying.

My guess is to keep the government off their backs.

The do gooder pols love to beat up on the big pharma.

[Kevin M. Leonard]

Originally Posted by mlarson

"The average cost, a 2003 study published in The Journal of Health Economics shows, can be as much as $800 million"

That's for one drug. Doesn't sound small to me. ML

What do we get for the higher prices we pay? We get such drugs as Byetta. Introduced last year by Amylin Pharmaceuticals and Eli Lilly, this anti-diabetic drug works in a different way than insulin does - and without some of the side effects, such as weight gain, that lead many patients to take less-than-prescribed doses of the medication.

August 15, 2006
Don't kill off life-saving drugs

Oh, the poor drug companies.

ScienceDaily (Jan. 7, 200 — A new study by two York University researchers estimates the U.S. pharmaceutical industry spends almost twice as much on promotion as it does on research and development, contrary to the industry’s claim.

The researchers’ estimate is based on the systematic collection of data directly from the industry and doctors during 2004, which shows the U.S. pharmaceutical industry spent 24.4% of the sales dollar on promotion, versus 13.4% for research and development, as a percentage of US domestic sales of US$235.4 billion.

http://www.sciencedaily.com/releases...0105140107.htm

[Michael Larson]

What do you have against big business Kevin?

The free market will work it all out if we let it.

The worst thing that could happen is burden business with increased regulation as it becomes a hidden tax on all of us.

[Kevin M. Leonard]

Originally Posted by mlarson

That's less than the cost of bring one drug to market(inflation adjusted)

Ask yourself why they spend so much money lobbying.

My guess is to keep the government off their backs.

I agree. SO they don't have to be regulated like the rest of the worlds Pharma industry. In a way, kinda like the banks & predatory lending thing that got out of control.

[Michael Larson]

Originally Posted by kleonard

I agree. SO they don't have to be regulated like the rest of the worlds Pharma industry. In a way, kinda like the banks & predatory lending thing that got out of control.

If we regulate Pharma here the entire world will be deprived on many new meds.

Check it out and see where most of the life saving drugs are being developed.

Take away the chance of big reward and you take away Pharmas willingness to develop new drugs.

[Kevin M. Leonard]

Originally Posted by mlarson

What do you have against big business Kevin?

The free market will work it all out if we let it.

The worst thing that could happen is burden business with increased regulation as it becomes a hidden tax on all of us.

Or when they collapse & need a bail-out.

I have nothing against big buisness. I am for a free market, but look whats happened recently with the banks, housing & auto industry.

I saw this show on PBS the other night. Scary as H&ll. If you haven't seen it is a good watch. It it is a very well put together documentory. http://www.pbs.org/wgbh/pages/frontline/meltdown/view/

[Michael Larson]

The bailouts under Bush and Obama are outrageous and wrong headed.

They have "fixed" nothing and we are all on the hook for the bad decisions that have been made.

No one is to big to fail.


Thanks for the link. Watching it now.

BTW-Chris Dodd has been a huge part of the problem and continues to shade the truth to save his skin.

[Kevin M. Leonard]

Originally Posted by mlarson

The bailouts under Bush and Obama are outrageous and wrong headed.

They have "fixed" nothing and we are all on the hook for the bad decisions that have been made.

No one is to big to fail.


Thanks for the link. Watching it now.

BTW-Chris Dodd has been a huge part of the problem and continues to shade the truth to save his skin.

I absolutely agree.

[Michael Larson]

In the Frontline video, Barney Frank said the banks used to frisk you pretty good before lending you money. It's true.

He didn't mention his own complicity in encouraging lending to those with little or no ability to repay what they were lent.

He is trying to save his own skin by making it appear he had nothing to do with the housing bubble and eventual collapse.

Why is he still in office?

[Kevin M. Leonard]

Seems we have a little boy out there playing childs games. I just received two text messages through my online texting service - one calling me a A-hole & the other telling me I can't spell. WHAT a COWARD. Why don't you reveal yourself instead of playing childish games.

[Michael Larson]

Originally Posted by kleonard

Seems we have a little boy out there playing childs games. I just received two text messages through my online texting service - one calling me a A-hole & the other telling me I can't spell. WHAT a COWARD. Why don't you reveal yourself instead of playing childish games.

Bunk buddy of Mr. Frank?

[Kevin M. Leonard]

Originally Posted by mlarson

Bunk buddy of Mr. Frank?

Or Pee Wee Herman. or both, He probably alternates back & forth between them during the week & then lets Dick Chaney pack his fudge on the weekends.