USA healthcare - Maybe for-profit healthcare ain't so great

To post in this sub-forum you must have made 100 posts or have Trust status or have completed our ID Verification

Forums › Politics › USA healthcare - Maybe for-profit healthcare ain't so great

kingdragonfly

11191 posts

Uber Geek

Subscriber

#316194 24-Sep-2024 12:56

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

neb

11294 posts

Uber Geek

Trusted

Lifetime subscriber

#3285825 24-Sep-2024 14:35

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

894 posts

Ultimate Geek

ID Verified

Lifetime subscriber

#3285833 24-Sep-2024 15:21

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

11191 posts

Uber Geek

Subscriber

#3285890 24-Sep-2024 17:19

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

894 posts

Ultimate Geek

ID Verified

Lifetime subscriber

#3285920 24-Sep-2024 20:40

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

11191 posts

Uber Geek

Subscriber

#3285933 24-Sep-2024 21:28

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