Prices for a cancer drug called lomustine have skyrocketed nearly 1,400 percent since 2013, putting a potentially life-saving treatment out of reach for patients suffering from brain tumors and Hodgkin's lymphoma. Though the 40-year-old medication is no longer protected by patents, no generic version is available. According to the Wall Street Journal, lomustine was sold by Bristol-Myers Squib for years under the brand name CeeNU at a price of about $50 a capsule for the highest dose. The drugmaker sold lomustine in 2013 to a little-known Miami startup called NextSource, which proceeded to hike lomustine's price nine times since. It now charges about $768 per pill for the medication.
Soaring prices for cancer drugs are a concern for both patients and doctors because financial pressures can lead to delays in seeking treatment that can easily surpass six figures per year. A study published earlier this year in the Journal of Clinical Oncology found prices for 24 patented injectible Medicare Part B drugs rose an average of 18 percent annually over the past eight years on an inflation-adjusted basis. Prices continued to rise even when generic versions of the drug became available.
Capitalism at its finest. Supply and demand and all that.
Yup, definitely don't want to get the EEEEEVILLL gubmint involved in this.
"NextSource CEO Robert DiCrisci, told the Journal that the company sets its prices based on the costs it incurred in developing the medication and the benefits it provides patients."
Except that they didn't develop the drug. I sort of hope he develops a need for his own medication.
The invisible hand of the markets will work it out.
Right? People can bargain.
Folks can just shop around for cheaper drugs.
I remember when I got appendicitis and I was laying there in pain and thinking 🤔 hmmmm, I hear there is sale on appendicitis operations down the road in the next town so how about a discount doc or maybe I am just gonna crawl down there instead.
Now I can't remember how that worked out cause of the pain and all but my wife assured me I got the best deal in town. She knows how much I like a good deal.
Until we have price controls for goods and service in our health care system like the successful northern European systems, which are both single and multi payer, it won't matter what other changes we make.
Time to LOCK HIM UP (the ceo) for price gouging.
#8 | POSTED BY ABORTED_MONSON AT 2017-12-27 12:18 PM | REPLY
Sorry Charlie. Price Gouging by pharmaceutical companies isn't illegal. The only reason Pharma Bro got nicked was he cooked the books.
Well, maybe it should be.
#10 | POSTED BY WHODAMAN AT 2017-12-27 12:48 PM | REPLY |
That would require regulations. You know; those evil things that Democrats spend their entire lives coming up with to hamstring businesses. We don't need job killing regulations. Businesses will do what's right out of the goodness of their heart.
The bottom line is that regulations don't cost integrous people anything. The only cost of regulation is the money they can't make by deliberately harming people.
#11 | POSTED BY HATTER5183
You would think that in discussing regulations, one should look at why the regulation was put in place in the first place. In my experience, the vast majority of problems started out as the solution to some other problem. If you get rid of the solution, you get the old problem back.
"one should look at why the regulation was put in place in the first place."
What a waste of time!
Everyone already knows that 10% of them no, 70% of them job killing regulations were created by Liberals to prevent businesses from growing and to punish the wealthy and prevent the flow of capital.
Ok, I get it. Conservatives (specifically, American Protestant conservatives) want to punish the poor (because they deserve it), and Liberals want to punish the rich (because they're greedy). Is that about it? Ironically, I don't think they are on the same side of this one as Jesus.
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