Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
To post in this sub-forum you must have made 100 posts or have Trust status or have completed our ID Verification



kingdragonfly

11102 posts

Uber Geek

Subscriber

#316194 24-Sep-2024 12:56
Send private message

There's a funny thing happening in the US

Drugs called Ozempic and Wegovy are proving to be extremely popular worldwide. Ozempic is used primarily to treat type 2 diabetes, and Wegovy is used for chronic weight management

The problem in the US is there are a lot of obese people.

Plus prescription costs are outrageous in the US. Ozempic:

$93 - UK
$130 - Denmark (the home country of Manufacturer)
$969 - USA

Combine the two, and let the drug dealers drug manufacturers lobbyist maintain control in the US, it could bankrupt the US healthcare system.

Maybe for-profit healthcare ain't so great, and the US should look to the politics of just-about-anyone-else for ideas to control medical costs.

Sidenote: Ozempic has been approved by New Zealand Medsafe for this purpose. Wegovy has not yet been approved by Medsafe. From a year ago: Viral weight loss drug Ozempic has been approved for use in New Zealand


Create new topic

neb

neb
11294 posts

Uber Geek

Trusted
Lifetime subscriber

  #3285825 24-Sep-2024 14:35
Send private message

More generally, google "us worst healthcare" for stories going back forever that show how bad their healthcare system is for anyone but the shareholders of HMOs.




OldGeek
882 posts

Ultimate Geek

ID Verified
Lifetime subscriber

  #3285833 24-Sep-2024 15:21
Send private message

Prescription drugs, like all products and services in the USA, are subject to ludicrous legal liability costs.





-- 

OldGeek.

 

Voyager referral code:  https://refer.voyager.nz/6XQR2QG9Q


kingdragonfly

11102 posts

Uber Geek

Subscriber

  #3285890 24-Sep-2024 17:19
Send private message

In 2015 Martin Shkreli got the manufacturing license for 63 year old antiparasitic drug Daraprim.

An infection can be particularly dangerous for individuals with compromised immune systems, such as those with HIV/AIDS.

He raised its price to insurance companies from $13.50 to $750.00 (USD) per pill.

From 1952 to 2020 there were no lawsuits so no "ludicrous legal liability costs."

It wasn't until Martin Shkreli obtained the manufacturing rights that they were any lawsuits at all.

in 2020 the Federal Trade Commission (FTC) and the New York Attorney General filed a lawsuit against the pharmaceutical firm and Martin Shkreli, alleging anticompetitive practices to maintain a monopoly.

Even after losing that lawsuit, he walked away with $42 million profit.



OldGeek
882 posts

Ultimate Geek

ID Verified
Lifetime subscriber

  #3285920 24-Sep-2024 20:40
Send private message

Its not the actual litigation that pumps up prices - it is the risk of litigation - and the almost unlimited timeframe of that risk.





-- 

OldGeek.

 

Voyager referral code:  https://refer.voyager.nz/6XQR2QG9Q


kingdragonfly

11102 posts

Uber Geek

Subscriber

  #3285933 24-Sep-2024 21:28
Send private message

I'm not an expert by any stretch on why US drugs prices are so much more than everywhere else.

However experts have pointed out one of the primary drivers of high drug prices is the manipulation of the patent system by pharmaceutical companies. By extending patents through minor modifications, companies can delay the entry of cheaper generic drugs into the market.

Sellers like Martin Shkreli set prices based on what the market will bear. Sounds great when your dealing with healthy competition selling canned soup, but not so much when you have monopolies with buyers literally dying without the your product.

Pharmaceutical companies have robust defenses against pricing lawsuits, reducing the potential impact of litigation.

While litigation risks may play a role, they are not the primary factor driving high pharmaceutical drug prices in the US.

Time: Big Pharma’s Patent Abuses Are Fueling the Drug Pricing Crisis

Create new topic





News and reviews »

Amazfit Expands Active 2 Lineup with the New Active 2 Square
Posted 23-Jun-2025 14:49


Logitech G522 Gaming Headset Review
Posted 18-Jun-2025 17:00


Māori Artists Launch Design Collection with Cricut ahead of Matariki Day
Posted 15-Jun-2025 11:19


LG Launches Upgraded webOS Hub With Advanced AI
Posted 15-Jun-2025 11:13


One NZ Satellite IoT goes live for customers
Posted 15-Jun-2025 11:10


Bolt Launches in New Zealand
Posted 11-Jun-2025 00:00


Suunto Run Review
Posted 10-Jun-2025 10:44


Freeview Satellite TV Brings HD Viewing to More New Zealanders
Posted 5-Jun-2025 11:50


HP OmniBook Ultra Flip 14-inch Review
Posted 3-Jun-2025 14:40


Flip Phones Are Back as HMD Reimagines an Iconic Style
Posted 30-May-2025 17:06


Hundreds of School Students Receive Laptops Through Spark Partnership With Quadrent's Green Lease
Posted 30-May-2025 16:57


AI Report Reveals Trust Is Key to Unlocking Its Potential in Aotearoa
Posted 30-May-2025 16:55


Galaxy Tab S10 FE Series Brings Intelligent Experiences to the Forefront with Premium, Versatile Design
Posted 30-May-2025 16:14


New OPPO Watch X2 Launches in New Zealand
Posted 29-May-2025 16:08


Synology Premiers a New Lineup of Advanced Data Management Solutions
Posted 29-May-2025 16:04









Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.