We are being held hostage by the sweet deals between Puerto Rico and big pharma. Start with our tax dollars being funneled to PR via medicare, medicaid.
In Europe, the operate what is called a monopsony. It’s sort of the opposite of a monopoly. France, the country, says to a drug supplier, “Give me 8 months of your total run rate of ________. I won’t pay more than X.”
Because here in the US, there isn’t any real buying power among the customer, and the end customer is divorced from the buying process, they charge huge markups to offset the lost profitability in other markets where the government is the only buyer.
Drug companies don’t make drugs. They develop intellectual property, and the number of ‘compounds’ under development is set by the profit margin. More margin, fewer compounds.
Compounds become drugs in other countries, before they go through the FDA process and become Drugs in the US. (Drugs you are allowed to purchase).
Nearly every drug developed is as a result of big pharmas buying promising compounds from smaller companies, where as before big pharma used to develop their own. (Some still do).
Novo Nordisk is an interesting example. All they really do is make insulin. Period. Their development is to make better insulin that is more viable and with longer shelf life and tolerance to heat.
They don’t cure diabetes. If you read their 10-K, nowhere in their mission statement does it mention ‘cure’ anywhere. They make things that make type one diabetes more viable. Now type 1 diabetes has reached epidemic proportions. It’s a good stock to own. They have slaves for customers, literally.
So, there you go. Drug companies don’t make drugs. They develop and trade intellectual property.
The latest Cimzia and Orrisa, Endometriosis are 2 of those drugs.
Cimzia is a new Rheumatoid Arthritis drug at over $4,500 a dose. If the cost won't kill you the drug will. Orrisa will cause bone degeneration, maybe cancer, and it's cost will Kill too.
Time for a FDA OVERHAUL!