My wife is a veterinarian. Why is the pet insulin (100% exact same as human insulin) $25 when the same amount human insulin is $300? (not sure of exact prices but that is the price difference)
Why can she buy a bottle of Epi for $28 that has enough dosage to fill 30 Epi pens at $600 each
Conservatives need to stop siding with these rip off drug companies under the guise of free market.
It’s not a free market.
You’re right. But they won’t listen
They are on a roll
Liability and lawsuit lotto. Pet insulin costs less because if someone does something stupid with pet insulin, the amount they can sue for is relatively limited. Not so with human insulin.
Those multibillions getting awarded or settled for in lawsuits have a cost.
Tell us more. Include your plans to become an insulin supplier.
“these rip off drug companies”
Everyone is against price gouging that occurs during, say, destructive weather. People become desperate for items essential to their lives.
This price gouging is the free market in operation.
When people need something because their life is at stake and the suppliers charge prices way above their manufacturing costs, and the suppliers either eliminate competitors or collude with them, no way is that a good thing.
Drug price gouging should be treated exactly like the gouging that occurs during emergencies.
“Conservatives need to stop siding with these rip off drug companies under the guise of free market.
It’s not a free market.”
+1
If the Republicans don’t do something about these outrages soon, the Democrats will gladly do it for them.
When your wife (the vet) accidentally kills someones dog with the pet insulin, they are out a dog. When a doctor accidentally kills a human patient, it's a different story. That malpractice insurance and F&D approval is expensive.
>>> It’s not a free market <<<
I can’t speak to your examples, but the global pharmaceutical market is not an open market. Nations with socialized medicine fix drug costs. Canada, for example, will only pay $X for a given drug. Pharmaceutical companies balance their places by raising prices in the US and other markets much like hotels and airlines charge widely variable prices for the identical room or seat.
Not saying this is a good thing - it’s just reality. My preference is a truly open market with fair/profitable pricing.
“when the same amount human insulin is $300?”
You don’t sue pet manufacturers for $1.8B
Why don’t you answer your own question before saying something so idiotic.
Amen. Insurance (legalized gambling) is a creature of government regulation, much more profitable than running a casino.
But you are correct it isn’t a free market - it is a corporate insurance duopoly. Most pet insulin isn’t paid for by a third party payer, so the free market forces do indeed apply to it. Obamacare making the building of additional physician owned hospitals put a swift end to the rising competition from these entities before they had a chance to get off of the ground to make a dent in the corporate duopoly.