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The Answer Is Quite Simple, But Nobody Will Pick Up The Ball
The Market-Ticker ^ | Sept. 23, 2015 | Karl Denninger

Posted on 09/23/2015 8:59:46 AM PDT by SatinDoll

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To: William Tell
Without the typo: "The inequities in pricing from one nation to another is a small price to pay for the benefits derived."
21 posted on 09/23/2015 9:33:20 AM PDT by William Tell
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To: SatinDoll

It’s just as Trump said, Americans are saps for the whole world to take advantage of. Here and hundreds of other ways.


22 posted on 09/23/2015 9:33:26 AM PDT by caddie
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To: cuban leaf

No one in Canada or Mexico prevents US citizens from purchasing drugs from their pharmacies, it is the good ol’ FDA. With that being the case I would hardly call our market “free”.


23 posted on 09/23/2015 9:37:21 AM PDT by RightOnTheBorder
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To: kingu

Comment from the Ticker-guy:

“I’d give them a choice — either STFU or do 10 years for violating the Sherman, Clayton and Robinson-Patman acts.”


24 posted on 09/23/2015 9:38:41 AM PDT by SatinDoll (A NATURAL BORN CITIZEN IS BORN IN THE USA OF TWO USA CITIZENS)
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To: SatinDoll

You left out a key factor - litigation risk, which is much higher in the US than overseas. That could be addressed - it was for certain vaccines - but there will be a transfer of risk to the individual associated with that.


25 posted on 09/23/2015 9:46:24 AM PDT by PAR35
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To: Bloody Sam Roberts

Actually, it’s even worse than that. When is the last time you saw a blaring headline about some disease actually being cured? There are lots of headlines about some “promising” line of research that “might” one day lead to a cure, but I can remember exactly ZERO such announcements of a real cure of a real disease. People are staring to catch on so that many medical charities no longer promise a “cure”, but rather your contribution is used for research and “awareness.”


26 posted on 09/23/2015 9:48:27 AM PDT by trenton1776
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To: PAR35

“RISK”.

That is a part of capitalism. If you’re is business and believe is a free-market system, then you accept it. If not — the you go with dictatorship.


27 posted on 09/23/2015 9:55:33 AM PDT by SatinDoll (A NATURAL BORN CITIZEN IS BORN IN THE USA OF TWO USA CITIZENS)
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To: SatinDoll
but no money for investment in research
28 posted on 09/23/2015 9:56:42 AM PDT by SoothingDave
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To: Bloody Sam Roberts

There are serious problems with the economics of drug development and production. But to claim that cancer researchers and pharma don’t want to cure cancer is disingenuous. They have been doing a pretty good job over the last twenty years. Specifically, death rates have dropped by more than 30% for colorectal cancer, breast cancer in women, and lung cancer in men, and by more than 40% for prostate cancer. Those are real, dramatic reductions in cancer deaths and are mostly attributed to two things - reduced smoking and BETTER TREATMENTS.


29 posted on 09/23/2015 9:57:40 AM PDT by FBRhawk (Pray with faith, act with courage, never surrender!)
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To: pgkdan
pgkdan said: "... there's no incentive for them to really find a cure for cancer."

It's a mistake to refer to "a cure for cancer".

"Cancer" is not one thing. It is a multitude of diseases whose commonality is that the tumor cells have damaged DNA and the damage can be passed on to descendant cells.

The "cure" to any given cancer depends upon the specific damage done to the DNA.

A particular form of Gastrointestinal Stromal Tumor (called GIST), for example, comes about due to a single change in a single spot in the DNA. Except for this change, which permits uncontrolled cell growth, the cells are indistinguishable from normal cells. The fact that Glivec can halt the uncontrolled growth of these cells without killing the normal cells in the body strikes me as almost miraculous.

This same drug, Glivec, has prolonged the lives of many people with CML (Chronic Myeloid Leukemia). I know a woman who has been taking Glivec and similar drugs for eleven years. The five year survival rate for CML is now around 90% (up from about 40% I think) thanks to drugs like Glivec.

Other cancers are not so simple and come about through a series of DNA changes. There's lots of research still needed and it will take mountains of money to pay for it. Only western capitalist countries have the resources to do this.

30 posted on 09/23/2015 9:58:57 AM PDT by William Tell
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To: pgkdan

Condolences for your loss.


31 posted on 09/23/2015 10:00:56 AM PDT by mad_as_he$$ (Section 20.)
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To: pgkdan

Thank you much for your wife’s story. Sorry that she is gone.

I appreciate your insight into chemo. I have often wondered about that. If the chances of curing the cancer are very, very slight, maybe a comfortable death via painkillers until death would be the way to go. Certainly save a lot of money.


32 posted on 09/23/2015 10:31:45 AM PDT by upchuck (Drinking buddies and BFFs: Satan, nobama and the AntiChrist. Different subject: Go CRUZ!)
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To: SatinDoll

So, only the highest bidders will get lifesaving drugs?


33 posted on 09/23/2015 10:33:10 AM PDT by Darteaus94025 (Can't have a Liberal without a Lie)
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To: Darteaus94025

THAT is not what I’ve said. What part of BIGPHARM violating national laws did you miss?


34 posted on 09/23/2015 10:35:34 AM PDT by SatinDoll (A NATURAL BORN CITIZEN IS BORN IN THE USA OF TWO USA CITIZENS)
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To: Bubba Ho-Tep

Bingo [and, to some extent, Western Europe]! Not completely unfair, but not completely fair either.

Can one wait for health care innovations to come out of Muslim or African countries?


35 posted on 09/23/2015 10:36:47 AM PDT by Darteaus94025 (Can't have a Liberal without a Lie)
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To: SatinDoll

Oh, SNAP!!

Someone did not have their Cheerios this morning!

If the first purchaser has the right to resell, then, it logically follows that, the highest subsequent bidder will purchase the drugs. So, someone advocating for the right of the first purchaser, is, in effect, advocating for the wealthiest, or the subsidized, to have first place in the secondary market.

Where does that logic fail [i.e. stick to the subject please]?


36 posted on 09/23/2015 10:41:35 AM PDT by Darteaus94025 (Can't have a Liberal without a Lie)
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To: SatinDoll
"Simply enforce the right to sell whatever you own and prosecute any corporation (and its executives) that try to restrict distribution and cross-border shipment of such drugs."

You did post this argument, did you not?
37 posted on 09/23/2015 10:44:12 AM PDT by Darteaus94025 (Can't have a Liberal without a Lie)
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To: Bubba Ho-Tep
Yes, but isn't this also due to monopsony powers, where there is only ONE BUYER, in this case a foreign government, who can force the price down for their purchase?
38 posted on 09/23/2015 10:59:33 AM PDT by Carlucci
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To: kingu
To me, the real solution involves this: A considerable amount of the sticker price for drugs is to cover the inevitable class action lawsuits that are to come. Instead, add a small tax to prescription drugs to go into a FDA fund which will pay ALL claims for any drug issues and put in stiff criminal penalties for any drug company that conceals or inflates any data from drug trials and reports after the drugs are released. When drug companies no longer need a one to ten billion dollar contingency fund to cover future court claims, the prices will fall sharply. If you further make it illegal for drug companies to directly market to doctors, you cut costs even more dramatically.

Sounds great in theory, and it might work. I just want to caution you that the two states that tried no-fault auto insurance on a similar basis both had / have by far the highest auto insurance rates in the country. On the other hand, it could be like worker's comp insurance, which might reduce the problem. But the plaintiffs' lawyers that own the democrats would never let something like this through. That's big money you're taking from them and they'll fight hard to keep it.

39 posted on 09/23/2015 11:50:44 AM PDT by FateAmenableToChange
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To: SatinDoll

You sound like you’d be an Edwards for President backer.


40 posted on 09/23/2015 11:52:35 AM PDT by PAR35
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