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Citing 'Moral Requirement To Make Money', Pharma CEO Jacks Drug Price 400% (arstechnica.com)

The chief executive of a small pharmaceutical company defended hiking the price of an essential antibiotic by more than 400 percent and told the Financial Times that he thinks "it is a moral requirement to make money when you can." From a report: Nirmal Mulye, CEO of the small Missouri-based drug company Nostrum Laboratories, raised the price of bottle of nitrofurantoin from $474.75 to $2,392 last month. The drug is a decades-old antibiotic used to treat urinary-tract infections caused by Escherichia coli and certain other Gram-negative bacteria. The World Health Organization lists nitrofurantoin as an essential medicine. In an interview with the FT, Mulye went on to say it was also a "moral requirement" to "sell the product for the highest price," and he explained that he was in "this business to make money."

670 comments

  1. Making money is not a "moral requirement" by Anonymous Coward · · Score: 5, Insightful

    But maybe it's what they teach at MBA courses.

    Anyhow, time to decommercialise medicine. Yes, I know it sounds pinko commie socialist. Even so.

    1. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 2, Funny

      Are communists unable to detect sarcasm?

    2. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 2, Insightful

      But maybe it's what they teach at MBA courses.

      Anyhow, time to decommercialise medicine. Yes, I know it sounds pinko commie socialist. Even so.

      Why do you think markets can't correct this type of behavior?

      "Goodwill" is also an asset - one that's actually quite valuable.

      This CEO just shat all over whatever goodwill his company had.

    3. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Has it?

    4. Re:Making money is not a "moral requirement" by fishscene · · Score: 4, Insightful

      I reckon the same logic can be applied for taxes for this company too. It's a moral requirement for the federal government to make money.. by jacking up your corporate taxes by 400%.

    5. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Maybe it's moral to make money so they can afford to create new drugs to help humanity more in the future.

      Who am I kidding daddy wants a new house.

    6. Re:Making money is not a "moral requirement" by majormer · · Score: 1

      But maybe it's what they teach at MBA courses.

      Anyhow, time to decommercialise medicine. Yes, I know it sounds pinko commie socialist. Even so.

      Not sure that raising the price is bad...

      If you remove the money from the equation, the incentive to develop new medicines goes down. While this isn't immediately visible, we might find a disease arise that no one cares to research and cure in the future. So, bad juju in the long run.

      If you force an established business to take a medicine that is already developed and remove the money from it, you might see short term benefits and costs go down on that medicine. Also, if the price goes up too far, the costs will put it out of range for people, or raise insurance rates so high that the insurance companies stop paying for it. This will hurt his business and cut into profits. Sounds good today and has a visible result, but what is the cost? Can the law of supply (his lab's production) and demand (price people are willing to pay) make this self-regulating?

      When you don't reward success, you are doomed to mediocrity. That is why I'm not sure this is a bad thing. He may, in fact, have a moral obligation to make money because it rewards success.

    7. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Lighten up. Wow.

      Get a life, will you?

    8. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      What does goodwill have to do with patents? How does the free market regulate the sole source of a needed drug?

    9. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      "Markets" "can" correct the behavior, sometimes they do, but more often they don't until some catastrophic fail forces them to take it over. They don't do that from a "moral" position in any event, PR aside.

    10. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 1

      It would be better to say that having a business make as much profit as it can is an IRS requirement, not a moral one. You wouldn't want your business classified as a hobby by the IRS. Thus, you must make profit.

    11. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      So much hate! Must be a Progressive.

    12. Re:Making money is not a "moral requirement" by ceoyoyo · · Score: 5, Informative

      There's fairly strong evidence against your primary assumption. Most drug discovery is done by academic, publicly funded researchers, who get paid fairly poorly considering their education, and the hazards of the field.

      The ones who rake in the big profits are business and investor types who mostly buy and sell existing IP.

    13. Re:Making money is not a "moral requirement" by layabout · · Score: 5, Insightful

      Markets can't correct this behavior because drugs are effectively a monopoly situation. Not just from the patent perspective but from the biological. When treating a condition, it's not uncommon to find that a patient can't tolerate one drug but can another. A classic example of this is statins. The protocol for using statin says if a patient can't tolerate the cheap ones, gradually try the increasingly more expensive ones until you find one that works. If the patient can only tolerate one particular drug to treat a condition, there is no market (i.e. only one supplier, the drug that works). The only power the patient has is to decide whether or not to treat the condition. There is no way the patient can put any pressure on the drug manufacturer to change pricing. If anything, the drug manufacturer is saying "you want to live? Don't ask about the price, just pay it."

    14. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 3, Interesting

      If you remove the money from the equation, the incentive to develop new medicines goes down.

      Precisely why it should be decommercialized and ran by the government. Research can go back to where research for this should be, universities. Funding will be paid by all tax payers. So the scientists working on the research can still make high salaries, but the cost of the drugs will go down drastically since there won't be companies trying to make stock holders happy and CEO/CFO/CIOs who don't do any of the work collecting 7+ figure incomes. They don't need to turn a profit, just cover costs. Win win for billions of people, only losers in this deal are the couple hundred assholes running these companies.

      This has nothing to do with rewarding success. Currently, drug companies have ZERO incentive to cure anything. If they can make you feel better, but not cure you, they win and you think you won. The research needs to be on the cure. In order to do that, you HAVE to remove profit and greed from the equation.

    15. Re:Making money is not a "moral requirement" by Calydor · · Score: 5, Insightful

      No, this is just how a sociopath thinks. Quite literally, a sociopath thinks that anything that benefits him (regardless of what happens to the rest of the world) is morally right.

      --
      -=This sig has nothing to do with my comment. Move along now=-
    16. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      No, this is just how a sociopath thinks. Quite literally, a sociopath thinks that anything that benefits him (regardless of what happens to the rest of the world) is morally right.

      Wait ... that's not true?

      Huh, learn something new every day.

    17. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      I'm sorry, but you don't get to use the FDA to ban all but one manufacturer from making this drug, and then blame it on free-market capitalism when the government-granted monopoly raises the price 400%

    18. Re: Making money is not a "moral requirement" by reanjr · · Score: 1

      It'sa fiduciary requirement though.

    19. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 2, Interesting

      If you remove the money from the equation, the incentive to develop new medicines goes down.

      What was it again, only 5% of new medicines actually add something new to the table? You could say that therefore 95% of new medicines are medicines in search of an ailment to medicate. That's the money incentive. I don't think taking that away is problematic. On the contrary, it frees up resources to properly test medicines that are developed on non-monetary incentives, such as gaining the ability to cure loved ones.

      While this isn't immediately visible, we might find a disease arise that no one cares to research and cure in the future. So, bad juju in the long run.

      I'm pretty sure that should such a disease arise we'll also rise to the challenge of curing it, somehow. There'll be specific money grants and whatnots to make it happen. It doesn't mean you need to keep big corporate conglomerates on hand, with large R&D departments chugging through money producing medicines in search of ailments to medicate just so you'll have them at the ready for such an eventuality.

      Look at, say, AIDS. It took us quite a while to catch on, then to get the research started, then to find something useful. In the meanwhile, lots of large corporate R&D labs have been chugging through money producing medicines that had nothing to do with AIDS whatsoever, weren't even trying. They didn't all zoom in on the latest threat like a laser. They kept doing whatever it was they were doing.

      So I don't buy your "bad juju in the long run". In the long run, we just up the number of people we train to be medicine researchers as and when needed.

      When you don't reward success, you are doomed to mediocrity. That is why I'm not sure this is a bad thing. He may, in fact, have a moral obligation to make money because it rewards success.

      Pfft, that doesn't appear to fly either. We rewarded success by making a shifty asshole the richest man on earth and his software still was and is mediocre (if you squinted a lot--not usable if you were honest).

      Anyway, "money" doesn't equal "success". "Success" is what you say it is. Like, I'm told Finnish schoolteachers aren't paid all that much, and despite that obvious lack of monetary incentive they do deliver good work. Their success is delivering well-educated young adults, and the respect they get for that. So you can have success without (lots of) money.

      Which is really what "decommercialising medicine" is about. Make the medicine as a non-profit. Workers still get paid fair wages, but the institution that makes the medicine is no longer driven by the need to make lots of money, the necessity to fellate predatory institutional investors (*cough* raiding pension funds *cough*), that sort of thing. For medicine makers, making the medicine affordably for patients is the moral thing to do, not charging through the nose for the medicine.

      It is conventional wisdom that commercial enterprises need to reserve money for R&D so they can come up with the next product and thereby survive. But that assumes a market dominated by human fickleness. It doesn't go for, say, farmers, because come next year we still want our staple foods. R&D isn't really central to what they do. Same with medicine: Come next year the next generation will still need their vaccination shots, and unless we outright eradicate an illness, there'll be afflicted patients in need of medicine.

      So no, I'm not buying your arguments. I do find that they arise from hidden assumptions, and I say those aren't valid in this case.

    20. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      What does goodwill have to do with patents? How does the free market regulate the sole source of a needed drug?

      If all your patients die, your drug patent is useless.

    21. Re: Making money is not a "moral requirement" by Pulzar · · Score: 1

      It'sa fiduciary requirement though.

      There is no fiduciary requirement to "make as much money as possible". There is a requirement to advance the interests of the company, which is often represented as making money, but it is quite easy to argue that it's not in the best interest in the company to charge 400% more for a critical medicine, because it will paint the company in a very bad light, harming its future.

      --
      Never underestimate the bandwidth of a 747 filled with CD-ROMs.
    22. Re:Making money is not a "moral requirement" by Thelasko · · Score: 3, Informative

      Anyhow, time to decommercialise medicine. Yes, I know it sounds pinko commie socialist. Even so.

      The market is working to correct this behavior. Remember, there are intermediaries between the drug companies and the patients. They're pissed off too.

      --
      One of our competitors trademarked the term "hypothesis". From now on, we will call them "boneheaded ideas".
    23. Re: Making money is not a "moral requirement" by OwnedByTwoCats · · Score: 1

      No patent protection in this case. The article says

      Mulye also noted that rival pharmaceutical company Casper Pharma raised the price of its brand-name version of nitrofurantoin, called Furadantin. Casper hiked the price by 182 percent over three years—between 2015 and 2018—bringing a bottle’s list price to $2,800.

      The company is raising its price of a generic from $474.75 to $2,392. And the FDA told it that it had to alter its production to meet new impurity requirements.

    24. Re:Making money is not a "moral requirement" by sehlat · · Score: 2

      If you remove the money from the equation, the incentive to develop new medicines goes down.

      There is always an incentive. The last time I checked, it was called "survival."

    25. Re:Making money is not a "moral requirement" by cayenne8 · · Score: 1

      I reckon the same logic can be applied for taxes for this company too. It's a moral requirement for the federal government to make money.. by jacking up your corporate taxes by 400%.

      The government cannot target a business for taxation....it's against the law for the government to single out a business and tax it differently than other businesses.

      I understand your sentiment, but this one isn't a solution.

      --
      Light travels faster than sound. This is why some people appear bright until you hear them speak.........
    26. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Well to be technical, markets can correct this problem. Government intervention of the free market in the form of patents and the legal and criminal law system that prosecute patent violators is what prevents the market from making the correction.

    27. Re:Making money is not a "moral requirement" by jellomizer · · Score: 2

      No, I got an MBA and they didn't teach that either.
      They did teach selling a product at a fare market value, and not to short sell your product and putting yourself in a race to the bottom. They also taught that it is difficult to raise a price of a product too much without the customers getting pissed and switch to alternatives.

      I also took my MBA post Enron, so there was also a lot more emphasis in ethics. So much of this nonsense that these guys do was actually discouraged.

      I think the guy in this story is misinterpreting "Maximizing profits for the shareholder" from Milton Friedman. Which tries to separate a company from being a charity at the expense of the shareholders. Say for example you have invested $100,000 into a company and you are a shareholder. Now the CEO decides not to use your investment towards company growth and operations but under the company donate your money anonymously to his church, where you will not get the investment back. Vs. the company using your money to support flood victims, with the Company Logo hanging proudly. The second scenario your money is going towards advertising and public relations which would in the long run help out the company, while the first is them taking your money then giving it to charity without your permission. The company is ethically responsible to properly deal with its money. But short term bonuses to shareholder isn't the point of the Friedman doctrinaire and isn't necessarily ethical especially if your company is suppose to be working for the public good.

      --
      If something is so important that you feel the need to post it on the internet... It probably isn't that important.
    28. Re:Making money is not a "moral requirement" by Sperbels · · Score: 3, Insightful

      Why do you think markets can't correct this type of behavior?

      Because the notion that the market can fix everything isn't real and is akin to a religious belief.

    29. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 1

      There is a difference between a moral obligation to make money and outright greed. Making money to support your growth, pay your current overhead and give some back to your people community as a bonus is good and that is what a company should aim for. This is usually kept in check with what is called, "What the market can bare". meaning provided with ample competition no one company can extort monies (aka get really greedy) if there is a competitor that is willing to offer a lower price point. (Think although I hate to say it Amazon compared to most brick and mortar stores). There are times those where that doesn't work: 1. price fixing (see gas prices and holiday fluctuations), or when a company becomes the sole provider of a product or service (monopoly). There are laws against this from anti-trust to racketeering laws. There is one big loop-hole to this though patent/copyright law which makes it possible to not only monopolize a product or service but to stifle competition by leaving control to that one company for pretty much perpetuity under current law. This makes it possible for arse-hats like Mulye to act like they do. So if we are to get mad at something it should be the current patent and copyright law. Remember information is king and information is power by allowing some to have an indefinite hold on something gives them power far beyond what the founders of copyright and patent law ever intended. Just think of what they will do once the setup their fences and paywall on all the internet.

    30. Re:Making money is not a "moral requirement" by lgw · · Score: 2

      Corporate taxes are just passed on to the consumer. If he can get away with increasing prices by 4x, he can get away with keeping the same profits after taxes at an even higher price.

      Corporate taxes are a feel-good measure that don't accomplish much (beyond incentivizing companies like Apple not to spend their profits in the US).

      OTOH, if the government hadn't granted him a monopoly in the first place, he wouldn't be harming anyone by his desire for profit. Maybe that's where you should direct your ire.

      --
      Socialism: a lie told by totalitarians and believed by fools.
    31. Re:Making money is not a "moral requirement" by Aristos+Mazer · · Score: 1

      But we can have laws where the tax rate goes up based on the acceleration of your product costs.

    32. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      This is a drug that is long out of patent and is by no means a monopoly. The slashdot story summary is grossly oversensationaling what actually happened.

    33. Re:Making money is not a "moral requirement" by jellomizer · · Score: 4, Funny

      I try to avoid sarcasm online. Back in the mid-90's I made some sarcastic comments about a flat earth trying to point how how stupid it was to avoid Occam's Razor. Then a decade later I see this Flat Earth movement and I fear I may had helped cause that. I now avoid Sarcasm on the internet.

      --
      If something is so important that you feel the need to post it on the internet... It probably isn't that important.
    34. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      As long as you vote in someone decent who can get a crackdown on these corporations... But who would that be?

    35. Re: Making money is not a "moral requirement" by rogoshen1 · · Score: 1

      yes but it's a pharma company.. not applebee's. The PR backlash doesn't really matter if they're selling an essential drug that lives depend on.

      I agree that the CEO sounds like a shitty human being, and this is bad business. But i think the counterpoint is. they don't really care, and it doesn't matter to them how much we huff and puff; they'll still sell that drug.

    36. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      story not about taxes, but arbitrary enforcement of vague laws on one specific company, and not any of their competitors.

      The IRS also targeted individuals in 2012 based on which campaigns they were donating money to. Many fired from IRS, and they admitted in court to acting illegally.

      So it does happen, even if you seem to think it doesn't. It may be illegal for them to do it, but not one person was charged with a crime in their illegal actions, so by the letter of the law it is illegal, but in reality it seems perfectly legal for the IRS to target individual businesses/people based on political views.

    37. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Because the notion that the government can fix everything isn't real and is akin to a religious belief.

    38. Re:Making money is not a "moral requirement" by Oswald+McWeany · · Score: 1

      I reckon the same logic can be applied for taxes for this company too. It's a moral requirement for the federal government to make money.. by jacking up your corporate taxes by 400%.

      The government cannot target a business for taxation....it's against the law for the government to single out a business and tax it differently than other businesses.

      I understand your sentiment, but this one isn't a solution.

      Government can and sometimes is sneaky about things like this. They can't say "let's tax corporation 'x' by 'y%'; but they can write some laws that directly impact one company more than others. They could find a way if they wanted. Now- government probably doesn't want to, and it probably isn't the correct solution for them to do so either... but they can be sneaky if they need to and the desire is there.

      --
      "That's the way to do it" - Punch
    39. Re:Making money is not a "moral requirement" by Sperbels · · Score: 4, Funny

      Yay, the fuckers who charged me $50,000 to have my appendix removed will rescue us from the price gouging pharmas.

    40. Re:Making money is not a "moral requirement" by barc0001 · · Score: 4

      OP was making fun of idiots who cannot tell the difference between a socialist idea and a communist one. As a side effect he/she has also lured out those who have no sense of humor, like yourself.

    41. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      "Morals"? What are you a fucking Christian? Morals come from fake sky daddies! The only thing that matters is cold hard cash my autistic techbro brothers!

    42. Re:Making money is not a "moral requirement" by Barsteward · · Score: 3, Funny

      if you want some fun at the flat earthers expense, check out "scimandan" on youtube, he spends his time tearing their "proofs" apart with a bit of humour. It might make you feel better about starting the trend :) gives me a little time of light entertainment when having a cup of tea

      --
      "The hands that help are better far than lips that pray." - Robert Ingersoll (1833-1899)
    43. Re:Making money is not a "moral requirement" by barc0001 · · Score: 1

      Who said anything about targeting? The effective corporate tax rate during the 50s and 60s, arguably one of the most prosperous times in US history, was moving back and forth between 37% and 43%. Today it's 21%. Time to raise it across the board to 30%+. It's a moral requirement.

    44. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      I try to avoid repeating myself online. [...] I now avoid repeating myself on the internet.

    45. Re:Making money is not a "moral requirement" by FormOfActionBanana · · Score: 1

      And who's going to develop new drugs once you decommercialize medicine?

      --
      Take off every 'sig' !!
    46. Re:Making money is not a "moral requirement" by alvinrod · · Score: 3, Insightful

      Drugs are effectively a monopoly situation due to government intervention. First, government agencies regulate what can and can't be sold as a drug. There may be a perfectly good medicine that already exists and is being sold in other countries, but if it's not FDA approved, you may be SOL. It's illegal for anyone to sell that medication to you. Second, governments enforce intellectual property rights which create a monopoly. The countries that don't respect or enforce these IP rights can churn out some of these $2,000 medicines for under a dollar. The process for extending (or granting new) IP rights for minor changes to a drug's chemistry is also abused, which can create perpetual monopolies.

      You can't claim that markets fail to correct for a behavior when a government has made it explicitly impossible for them to do so. It's no more fair that the conservative argument that government can't work effectively after it's been defunded or otherwise crippled. If you violate the preconditions, there's no guarantee of the postconditions. That much should be obvious regardless of context.

      I'm not suggesting that we need a completely laissez-faire system where anyone can sell whatever they want as medication either. You don't need to have a system of pure government control or a complete lack of it. However, you can't make it illegal for competition to exist or make it insanely expensive to certify medications without expecting the prices to be high.

    47. Re:Making money is not a "moral requirement" by Barsteward · · Score: 1

      have you read Das Kapital?

      --
      "The hands that help are better far than lips that pray." - Robert Ingersoll (1833-1899)
    48. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      The problem when it is run by the government is that often the funding gets cut over time. Prime minister - we have a budget shortfall, we need to make cuts. Turning over to the minister of healthcare - have you cured cancer yet? no, will you have the cure ready next year. no, I see it might take a decade. Then surely we can cut your budget by 10% for next year, will just add a small delay - or some other country will find the cure. Repeat and rinse each year.

    49. Re:Making money is not a "moral requirement" by CrimsonAvenger · · Score: 1

      No, I got an MBA and they didn't teach that either.

      They did teach selling a product at a fare market value,

      Now I remember the problem with MBA's! They can't spell.

      and not to short sell your product and putting yourself in a race to the bottom.

      And their grammar isn't so hot. "Putting" as opposed to "put"...

      They also taught that it is difficult to raise a price of a product too much without the customers getting pissed and switch to alternatives.

      Another example might be the word "switch", as opposed to "switching"...

      Hmm, blood sugar is obviously low. Time to find a snack....

      --

      "I do not agree with what you say, but I will defend to the death your right to say it"
    50. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Your closed mind would be sad even if it weren't so destructive to society. We must work together to solve problems. Sharing resources and burdens is how we got civilization started. Fear should be the last thing that drives our decisions.

    51. Re:Making money is not a "moral requirement" by Sperbels · · Score: 1, Insightful

      The government (at least ostensibly) represents the people. The market represents the will of a couple of rich people.

    52. Re:Making money is not a "moral requirement" by GuB-42 · · Score: 1

      As a CEO, making money is a moral requirement. Towards your shareholders, your employees and everyone who invests time and money into your company. It is also your job.

      Selling the product at the highest price does not equal making more money, especially not in the long term. Look at Walmart, Amazon, Ryanair, and many others. They made billions by selling cheap. Selling Nitrofurantoin at these price may precipitate the arrival of generics 100 times cheaper, reducing your sales to zero.

      Also short term profits is not a moral requirement either. It even goes against your main goal of making money in the long term. Focus on the short term and all you are doing is inviting vampires.

    53. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      There are a lot of reason why one period is more or less prosperous as another, so suggesting tax rates were causal is suspect.

      Revenue data show that the federal tax as a percentage of GDP was between 17% and 19% regardless of either individual or corporate tax rates were set. So if the desire is to maximize tax revenue, tax policy as well as others, should focus on maximizing GDP.

      Also, corporations don't pay taxes, the people who buy their products do. Arguing that corporate tax rates should increased is a proxy argument for increasing individual rates that is cloaked by cowardice.

    54. Re:Making money is not a "moral requirement" by hesiod · · Score: 1

      Since I am not an expert I am not going to state any opinion on tax rate numbers, but there is more to that prosperity than just corporate tax rates. The damage done by WWII left the US in a great position to use the manufacturing infrastructure advantage we had built up for the war effort.

    55. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 1

      In many situations, it is still a monopoly without a patent. Medicine is a good example of strongly inflexible demand, as the amount of use is unlikely to change much with price. So, any company that wants to compete against the dominant maker of a medicine has to first ramp up production, but the market leader can simply legally sell at a lower price than any competitor--experience in production along with economy of scale almost certainly guarantees it. Because demand will not move much, the result is the competitor will have a large stockpile of a medicine they can at best sell at a loss.

      So, the barriers to entry even with no patent protection can be high enough to basically guarantee that short of anti-competitive behavior of one company dumping medicine through profits on other goods a dominant maker of a medicine merely has to cut the price only if/when actual competition temporarily appears and the rest of the time charge the monopolistic price.

      PS - Technically yes it's possible that the monopolistic price would be high enough to eventually substantially cut demand, but coupled with legal threats and possibly death threats few companies will actually do so on many medicines. And of course governments or insurance companies (possibly at the behest of government) will often cover a substantial amount of the cost of many medicines even at their monopolistic prices. Of course plenty of companies will also "be able to help" sell a small section of their supply and much reduced prices because their actual costs are so low. In any case, I guess you could call that government interference, but I don't see a lack of government interference having any real effect.

      PSS - Yes, patents are a whole second kettle of fish to consider, but rather the point is that patents need not apply.

    56. Re:Making money is not a "moral requirement" by Joey+Vegetables · · Score: 1

      The one is expressly designed to lead to the other. This is acknowledged by such distinct thinkers as Frederic Bastiat (advocate of liberty and free markets), and Karl Marx (inventor of modern socialism/communism).

    57. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      No, just remove exclusivity protections, so that companies OTHER than this one can manufacture the medicine.

      Competition will bring the price right down, without the need to commercialize anything.

    58. Re:Making money is not a "moral requirement" by lgw · · Score: 0

      Most drug discovery is done by academic, publicly funded researchers, who get paid fairly poorly considering their education, and the hazards of the field.

      Maybe last century? Modern pharma research happens in pharma startups, which get bought by big companies if they succeed. It's very similar to the tech startup model. The big companies invent little, they just brand, but their money fuels the startup industry where the actual discovery happens.

      Sure, the big companies make the profits from consumer sales, but the pharma startups make their profits from selling the company (plus the VCs and angels, just like tech startups). You need profits flowing through that pipe to fund the actual research.

      We just need to figure out what to do about drugs with low sales volume - the per-pill costs have to be high, to fund the fixed cost of expensive research, and history shows government subsidies just mean higher prices. Maybe a shorter monopoly period? I'm fine with the rich paying whatever high price for a handful of years before a drug goes mainstream.

      --
      Socialism: a lie told by totalitarians and believed by fools.
    59. Re:Making money is not a "moral requirement" by Ogive17 · · Score: 1

      As an engineer with an MBA, no, they do not teach this bullshit in graduate school. Blaming MBAs is one of the easiest karma whoring subjects on /. and has been for years.

      This is greed. There was no "Asshole 701" course offered in my program.

      --
      "Action without philosophy is a lethal weapon; philosophy without action is worthless."
    60. Re:Making money is not a "moral requirement" by lgw · · Score: 0

      In the long run, we just up the number of people we train to be medicine researchers as and when needed.

      Sure, a central planning committee can form a Five Year Plan for the number of pharma researchers needed, and we can just tell people what degree they're going to get and force them to work in the field. I can see no flaw in this plan. It will totally motivate people better than pharma startup culture, and the mere monetary rewards for success.

      --
      Socialism: a lie told by totalitarians and believed by fools.
    61. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      I reckon the same logic can be applied for taxes for this company too. It's a moral requirement for the federal government to make money.. by jacking up your corporate taxes by 400%.

      The government cannot target a business for taxation....it's against the law for the government to single out a business and tax it differently than other businesses.

      I understand your sentiment, but this one isn't a solution.

      But the Gov't can target specific industries and it does that all the time. However, they usually do it to lower the industries' tax rate.. would be nice to see them do the opposite.

    62. Re:Making money is not a "moral requirement" by barc0001 · · Score: 1

      A lot of things don't work out as their creators intend. Seems most of Western Europe never got the memo...

    63. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      All a high corporate tax rate accomplishes is incentivizing large corporations to hide more income off shores. Thus, the corporations don't pay significantly more taxes, the money is not reinvested in the economy and small businesses which can't pull off the same tricks are more heavily punished leading to even more corporate consolidation.

    64. Re:Making money is not a "moral requirement" by Joey+Vegetables · · Score: 1

      As people once thought in Argentina, Venezuela, and South Africa among many other places.

    65. Re:Making money is not a "moral requirement" by ceoyoyo · · Score: 5, Informative

      Not really. You don't found a pharma startup unless you've got a promising candidate already. Basic discovery happens mostly in universities. The academic researchers find something interesting, use animal models to work out the mechanism and test efficacy, and occasionally even do some human studies. Startups are then either spun out of the university, started independently in conjunction with one of the university researchers, or in some cases just troll through the published literature looking for good ideas. The startup, or sometimes a bigger pharma company, then runs the basic human trials, and, if successful, sells the drug (or the company) to one of the major pharma corps for marketing and distribution.

      Basic discovery is still very much a publicly financed endeavour.

    66. Re: Making money is not a "moral requirement" by c6gunner · · Score: 0

      Is that aquote from Stalin, or from Mao?

    67. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      No, this is just how a sociopath thinks. Quite literally, a sociopath thinks that anything that benefits him (regardless of what happens to the rest of the world) is morally right.

      Sounds like Donald Trump.

    68. Re: Making money is not a "moral requirement" by c6gunner · · Score: 4, Insightful

      You've got that exactly backwards, I'm afraid.

    69. Re:Making money is not a "moral requirement" by bondsbw · · Score: 5, Insightful

      However, you can't make it illegal for competition to exist ... without expecting the prices to be high.

      Yes we can. We regulate them.

      What we can't do is assume the free market will sort out a situation when we can't allow free market conditions.

      I love free market competition. It works in the vast majority of economic situations. But it cannot work for markets we must heavily regulate and we shouldn't try to force it.

      --
      All my liberal friends think I'm a conservative, all my conservative friends think I'm a liberal.
    70. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 1

      There's religion on display for you. You grossly misunderstand the market and have a childish understanding of how government works.

    71. Re:Making money is not a "moral requirement" by outlander · · Score: 2

      +1.

      The only way that market wrongs can be redressed is after the fact, which is often too late in healthcare situations - if a patient is in an emergent situation, working up the best deal or best pricing is simply not going to happen.

      And for those people who claim that lifestyle choices should be taken into account, go to an ICU ward sometime and look at the percentage of patients who are (when well) nominally thin, healthy, working-out adults. Go ahead - I'll wait.

      Since you didn't go look the answer is "most of them." If we treat medical care as a business the cost of which must be evaluated and selected by the patient, we'll have a lot more dead people, and less good care, and certainly less quality of life.

      This is why regulation (e.g., prior restraint) on medicine represents a public good - by not placing individual patients in situations where they must make life-or-death decisions while under health duress, the overall quality of life across the population is improved. In the US, this is addressed - or was, with PPACA - with insurance that guaranteed certain sorts of coverage. In civilized western countries, it's addressed via national healthcare systems which focus on treatment rather than cost.

      --
      "Truth is what works" -- William James "It works!!" -- o-dark-AM comment
    72. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Yeah, that has worked so well for North Korea and Russia in the past. People just love working for breadline wages. They only put in the best work!

    73. Re:Making money is not a "moral requirement" by outlander · · Score: 2

      It was even higher then depending on how you calculate it - and yes, it led to the most prosperous era in US History.

      30% base seems a very reasonable percentage for corporate tax rates - and ensure that no amount of write-offs are allowed to cut off below that point.

      --
      "Truth is what works" -- William James "It works!!" -- o-dark-AM comment
    74. Re: Making money is not a "moral requirement" by c6gunner · · Score: 1

      Most drug discovery is done by academic, publicly funded researchers, who get paid fairly poorly considering their education, and the hazards of the field.

      If that's true then why are most new drugs invented in the USA? Do all those other countries just have really shit universities? Or are you maybe just making things up?

    75. Re:Making money is not a "moral requirement" by Zmobie · · Score: 4, Insightful

      Can the law of supply (his lab's production) and demand (price people are willing to pay) make this self-regulating?

      This is the inherent flaw in that type of argument and the main reason that healthcare needs to be single-payer and pharma companies (and other medical type companies) need to be heavily regulated. Demand is not, "price people are willing to pay", demand in the healthcare world is how healthy do people want to be. Incidentally this is always as healthy as they can be (and fun fact, in many cases if a person decides they don't want to be healthy we consider that to be a disease, potentially even criminal!). This is why healthcare costs go up every year and don't actually ever go down.

      Building on this, basic macro-ecnomoics tells us that the supply and demand of a free market is supposed to rise and fall against each other until a general state of price equilibrium is attained. Want to know what happens when demand literally will not (possibly cannot if we want the species to survive) fall? The price can be raised ad infinitum. The execs and many of their politician buddies know this, but they don't ever acknowledge it. Healthcare is literally a money pit if left in the current system and will far out pace wage earnings in all industries eventually. If you don't believe me look at the wage growth over the past several years vs healthcare costs for yourself.

      Based on these simple facts (and yes I do mean facts), to me, there is really only one way to fix this appropriately. By changing the system and acknowledging that you cannot apply a free market model to healthcare in any sustainable way. Pricing and costs would be regulated and made equal across socio-economic areas/demographics and then we take all of that excess money that was a result of price gouging and reinvest that into medical research, hospitals, etc. Seriously if we switch to a single-payer system tomorrow we would actually SAVE money as a country.

      Most sane people are not asking the business to operate for free or at a loss. They are allowed to make a profit, but not to gouge it simply because they recognized the flaw in the current system. The numbers have been stated over and over, we pay by far the most money per person into healthcare of any 1st world country. If we used that money to improve healthcare availability we would have an affordable system for everyone that you don't have to wait forever for anything to happen. Everyone loves citing Canada having long waits, but that is only for more difficult procedures or tests and even then they are not the only country with universal healthcare (and gasp! there are countries that don't have that same issue).

      For me, the solution is sitting right in front of us, but because of the fervor like devotion many people have to "free-market" everything we can't actually implement it yet. This, just like with everything else, is a perfect example of there is no one-size fits all solution for all problems and we as a country need to stop acting like that.

    76. Re:Making money is not a "moral requirement" by outlander · · Score: 2

      Exactly. As with the Internet, basic pharmacological research generally takes place at universities - often elite ones, but still universities - many of which are public. Once something looks promising in a lab, depending on the institution's patent and IP structure, the researcher(s) may be able to take the idea and indications to VCs and get funding - but that happens *after* the initial development in an environment funded by the commons.

      --
      "Truth is what works" -- William James "It works!!" -- o-dark-AM comment
    77. Re:Making money is not a "moral requirement" by PopeRatzo · · Score: 3, Insightful

      And who's going to develop new drugs once you decommercialize medicine?

      The same people who have always developed new drugs: Scientists, working in labs, trying to do good work. Corporations do not develop drugs. Those scientists would be just as happy working in a well-funded lab at a university.

      https://en.wikipedia.org/wiki/...

      --
      You are welcome on my lawn.
    78. Re:Making money is not a "moral requirement" by fahrbot-bot · · Score: 1

      I reckon the same logic can be applied for taxes for this company too. It's a moral requirement for the federal government to make money.. by jacking up your corporate taxes by 400%.

      The government cannot target a business for taxation....it's against the law for the government to single out a business and tax it differently than other businesses.

      You should tell Trump about this "law" ... From Trump threatens Harley-Davidson with taxes ‘like never before’ ...:

      President Trump on Tuesday threatened the iconic motorcycle company Harley-Davidson with severe taxes and predicted a public revolt that he said would eventually put the 115-year-old firm out of business, blasting the Wisconsin company for a plan to move some operations outside the United States as a way to avoid getting caught in the middle of an escalating trade war.

      --
      It must have been something you assimilated. . . .
    79. Re: Making money is not a "moral requirement" by TheMeuge · · Score: 1, Insightful

      I can tell you have never lived in Russia, China, or any other country with centralized power in government's hands. You'd know the government almost never represents the people.

    80. Re: Making money is not a "moral requirement" by bkmoore · · Score: 1

      Seriously we could just start by allowing and mandating that Medicare, etc. negotiate the best possible prices for medical products. Thatâs not socialism. Itâs just good stewardship of tax dollars and is the essence of a free market. But the current laws mandate fiscal malpractice and enable these kinds of practices, which is literally textbook crony capitalism.

    81. Re:Making money is not a "moral requirement" by outlander · · Score: 2

      The market may temporarily correct it, but greed always wins out in the absence of effective regulatory infrastructure.

      Remember, for the record, that Adam Smith was *not* in favor of unbridled capitalism, the 'laissez-faire' that is so often touted in his name. In fact, if you read either The Wealth of Nations or The Theory of Moral Sentiments, you'll find that he laments the various bad acts done in the name of pure profit, and enjoins his readers to act well and to take such measures as may be necessary to rein in bad actors.

      Read the books that you think you understand - the two Adam Smith books are a worthwhile endeavor - and you may find a broader perspective than market fundamentalism.

      --
      "Truth is what works" -- William James "It works!!" -- o-dark-AM comment
    82. Re:Making money is not a "moral requirement" by outlander · · Score: 1

      The academic institutions which currently do the seed work for most Pharma startups.

      --
      "Truth is what works" -- William James "It works!!" -- o-dark-AM comment
    83. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      So I started printing counterfeit money to fullfill my moral requirement and make stuff that people want.

    84. Re:Making money is not a "moral requirement" by lgw · · Score: 3, Informative

      Not really. You don't found a pharma startup unless you've got a promising candidate already.

      Pharma startups spend millions to test millions of candidates. When they find one that looks useful, they do each testing round to prove it out. For the publicly traded ones, you can see the stock price move 10x each time they pass one of those gates. Once they get FDA approval, or sometimes one gate before that, they get bought.

      "Basic discovery" is very far removed from product. It's the first link in a very long chain. Of course, you need that first link, or you have nothing, but it's not the universities trying millions of minor variations on an idea, risking millions of dollars on the hope it leads somewhere.

      --
      Socialism: a lie told by totalitarians and believed by fools.
    85. Re:Making money is not a "moral requirement" by nine-times · · Score: 1

      Markets can't correct this behavior because drugs are effectively a monopoly situation.

      Not only that, but the reason they're effectively a monopoly is because of patents-- which is already a form of government regulation. The idea that the pharmaceuticals industry is a "free market" is absurd. It's a highly regulated market, but it's a very poorly regulated market. It probably needs to be highly regulated, but the regulations could be modernized and improved.

      Unfortunately, it's nearly impossible to pass sensible regulation because so many people are so strongly unsophisticatedly pro-business that they're anti-government, anti-consumer, anti-evironment, and opposed to any form of economic or scientific expertise.

    86. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      So you want VA-Equivalent medical care for EVERYONE, thats what you're saying. have you BEEN to a VA hospital in the last 20+ years? Take your socialized-medicine and shove it, then see how long it takes to get it un-shoved.

    87. Re: Making money is not a "moral requirement" by bluefoxlucid · · Score: 1

      Correct: it's an ethical problem, not a moral problem.

      This is why I like B-Corporations: the bylaws establish an institutional requirement for managers to act in the best interest of the company, considering the impacts on the members, the employees and workforce, the customers, the community, the environment, the interests of the business, and the long-term capability of the company to create a material positive impact on the environment and society as a whole. There's even a provision wherein selling the business to someone other than the highest bidder does not breach duty so long as they are acting in the best interests of the company.

      Unnecessarily raising pharmaceutical prices is bad for customers and negatively impacts the long-term capability of the company to make a material positive impact on society as a whole. Your prices are as necessary to keep the company operating and to fund continued research sufficient to maximize accessibility of highly-effective medicine to those in need, not simply to pour out money to shareholders. Excessively-high prices are against the best interests of the company.

    88. Re:Making money is not a "moral requirement" by bluefoxlucid · · Score: 1

      If you ever read The Wealth of Nations, you'll have no idea what you just read. His writing is worse than mine. I have considered rewriting The Wealth of Nations to state the same things in meticulously-edited language, with the Dictionary of Concise Writing, The Elements of Style, and STFU: You Talk Too Much at hand for each proofread pass.

    89. Re: Making money is not a "moral requirement" by sjames · · Score: 1

      Perhaps it's time to invoke the public interest clause in their corporate charter.

    90. Re:Making money is not a "moral requirement" by bluefoxlucid · · Score: 1

      Microeconomics. I prefer macroeconomics, which is about how that fair-market price comes about.

      They did teach selling a product at a fare market value, and not to short sell your product and putting yourself in a race to the bottom.

      Today's electronic voting machines run about $3,500 per each. I've been looking at designing my own and selling it at-cost, a little under $200 per each, 10-year minimum lifespan. The software would cost something fierce, and diffuses through many units; plus its development costs are largely upfront, and it's only likely half a year of actual programming (planning and architecture are big and it will probably cost a labor-year in total). Consulting and non-government services are my planned revenue stream.

      I got into it because our election integrity sucks and I want to fix it--and I actually know how, whereas these people are transmitting votes over the Internet during voting (many don't do this; it's allowed in the voluntary voting system guidelines because wtf?). ES&S says they'll add more security to the machines; you don't make voting secure by upping your audit logs and antivirus software. Fundamentally-flawed approach.

      When I saw the costs, I balked, and it quickly became a matter of kicking the industry in the head for being horribly-inefficient and costing our government way too much.

      That race to the bottom is how society benefits from the advances of technology. You make your product cheaper by employing fewer people in the whole process of producing it; when prices fall, those still employed can purchase more, and thus can live better and create replacement employment. Government takes its money in taxes and supplies society with benefits; it's not a magical source of ethics-free revenue.

    91. Re: Making money is not a "moral requirement" by Pulzar · · Score: 1

      I agree that the CEO sounds like a shitty human being, and this is bad business. But i think the counterpoint is. they don't really care, and it doesn't matter to them how much we huff and puff; they'll still sell that drug.

      How about that whole epi-pen story, when they raised their prices? The visibility and the exposure that all the alternatives and generics must be causing some long-term damage.

      --
      Never underestimate the bandwidth of a 747 filled with CD-ROMs.
    92. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Whoa, whoa, whoa, we're talking about corporate taxes now, here in 'merica we are capitalists it is the governments responsibility to make sure corporations are free to do as they please as to as it makes a profit. And you can't do that buy coddling the genetically inferior takers. Taxing corporations hurts profits, why do you hate 'merica? This isn't Venezuela. #MAGA

    93. Re:Making money is not a "moral requirement" by jeffporcaro · · Score: 1

      Was it worth $50k to you? One could argue that you wouldn't be here to write this lovely tome without that surgery...

      (Untreated appendicitis is definitely not always fatal, which is why it's an argument, not a fact.)

      --
      It is not the doing of things that is difficult. What is difficult is getting in the right mood to do them. ~~ Brancusi
    94. Re:Making money is not a "moral requirement" by gorehog · · Score: 1

      We always did.

    95. Re:Making money is not a "moral requirement" by narcc · · Score: 1

      Something actually immoral, would be to take pleasure in the suffering of others. The same would go for taking pleasure in the denigration of an out-group.

      Building yourself up by putting others down is not a healthy way to go through life. It's bad for everyone.

    96. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      They've been bitter ever since they were forced to stop eating children.

    97. Re: Making money is not a "moral requirement" by Anne+Thwacks · · Score: 1

      If enough of your patients are facing death, your own life may be in danger.

      --
      Sent from my ASR33 using ASCII
    98. Re: Making money is not a "moral requirement" by shaitand · · Score: 1

      That's pretty meaningless, meeting those FDA requirements I'd be very surprised if the medication in the bottle costs as much to make as the plastic bottle you get it in.

    99. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      "Goodwill" is also an asset - one that's actually quite valuable.

      This CEO just shat all over whatever goodwill his company had.

      If I remember correctly, "goodwill" is defined by accounting rules as "how much the company overpaid for stuff." If a bidding war causes a $10M piece of IP to sell for $11M, the extra $1M is recorded as "goodwill".

      Because "We knowingly overpaid" just sounds... wrong.

    100. Re:Making money is not a "moral requirement" by shaitand · · Score: 1

      "There may be a perfectly good medicine that already exists and is being sold in other countries, but if it's not FDA approved, you may be SOL. It's illegal for anyone to sell that medication to you."

      Not quite true. It illegal for the manufacturer to claim it does something medically. If it isn't a regulated drug it isn't regulated, you can have a lab in China produce it by the pound for a couple hundred if you want. EVERYTHING is a chemical and therefore a drug, including water. The default is that everything is legal to sell, not the other way around.

    101. Re:Making money is not a "moral requirement" by shaitand · · Score: 1

      We don't need to heavily regulate this particular market. The only needed regulation is comparable to the quality, safety, and fair labeling practices we see on food. Sure, claims of medical effectiveness should be evaluated but there is no need to regulate distribution, sale, restrict consumption, or restrict who does the manufacturing so long as they comply with inspections for production safety.

    102. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Is $50k a fair market price? Since when do we get to comparison shop surgeries?

    103. Re:Making money is not a "moral requirement" by meglon · · Score: 1

      You're literally too fucking stupid to understand the answer. We know this because you were so fucking stupid to ask the straw man question.

      Socialism is an economic theory whereby the means of production and distribution are owned by the people, and the value those produce go to everyone. It is not a theory about murder or killing, unlike fascism which holds that one group is superior to others, and those others need to be eliminated.

      Communism, on the other hand, is socialism that requires a "revolution" to overthrow the previous form of government...which i would have to imagine...always leads to some deaths. Then again, fascism simply kills those who disagree with it... or look different...or have a different religion... or come from a different place....

      But you're too fucking stupid to understand that. You spout the same, tired, completely fucking stupid bullshit that fucking idiots do about why communism/socialism is bad; and that's because you're too fucking stupid to understand what either of them actually are. Just like the guy up about who tries to equate socialism with Venezuela (because of it's current problems), but refuses to mention Norway and Sweden and they're doing-better-than-the-US society. You have a slanted view towards bullshit that some other dipshit has told you, and you just have to parrot.

      Communism (in the case of 1930-1940's USSR) did not kill XX millions of people...and autocratic sociopathic dictator did; but he did use the government as a tool to do that... as ALL dictators do. Socialism, in theory, comes to a point where there is no central government controlling things, which is the point where the theory breaks down.Why? Because there's too many sick, twisted, self serving pieces of shit in the human species. Always has been, always will be.

      Hitler, also an autocratic sociopathic dictator, killed XX millions too, but in his case fascism lent a hand BECAUSE fascism requires the "other" groups devaluation and elimination.

      Now, do everyone a favor and go pull your head out of your ass and learn something for once in your life.

      --
      Fascism: An authoritarian and nationalistic right-wing system of government and social organization. See also: NAZI's
    104. Re: Making money is not a "moral requirement" by shaitand · · Score: 1

      Neither really represent the people, the disparity in wealth is too great for the people to have an effective voice in either. You can't represent the will of the people if the the will of the people is being manipulated with false information and information deliberate spun. You don't have to be brighter than people, their attention is spread across any number of issues and personal concerns, you really just need to care enough about the issue to outspin the 15 seconds to 5 minutes they'll spend actually considering the issue vs repeating other sources they trust to make their will your will. The wealthy (via their primary corporate vehicles) can pay an entire team of experts to spend 8+hrs a day doing nothing but shaping and working the intelligence and spin of that 15s-5m.

      People don't have a chance.

    105. Re:Making money is not a "moral requirement" by Immerman · · Score: 4, Insightful

      > but the regulations could be modernized and improved.

      They certainly could - patents could be made perpetual, and it could be made illegal to make a drug that competes in any way with any competitor's drug.

      Oh, you meant better for patients and the public good? First we'd need to hire politicians that are more interested in serving the public good than lining their pockets. Good luck with that.

      --
      --- Most topics have many sides worth arguing, allow me to take one opposite you.
    106. Re:Making money is not a "moral requirement" by meglon · · Score: 2

      Something actually immoral, would be to not teach people about reality. Sometimes people are so far gone you have to point out how stupid they are before you can reel them back in to reality. Humans have a moral imperative to help those people who are too stupid to help themselves.

      Fixed that for you.

      If you're getting butthurt for being stupid, then being told your stupid....stop being stupid. Problem solved.

      --
      Fascism: An authoritarian and nationalistic right-wing system of government and social organization. See also: NAZI's
    107. Re:Making money is not a "moral requirement" by FormOfActionBanana · · Score: 1

      The polio vaccine was not a drug... Corporations do develop drugs.

      --
      Take off every 'sig' !!
    108. Re:Making money is not a "moral requirement" by Calydor · · Score: 1

      The story about being stuck in the desert with the world's most expensive diamond comes to mind.

      That story was NOT a manual on how we should price things.

      --
      -=This sig has nothing to do with my comment. Move along now=-
    109. Re:Making money is not a "moral requirement" by meglon · · Score: 1

      You're a fucking idiot.

      --
      Fascism: An authoritarian and nationalistic right-wing system of government and social organization. See also: NAZI's
    110. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      How did we end up in a society where caring about other people makes you a pinko commie? Capitalism is truly immoral and disgusting.

    111. Re: Making money is not a "moral requirement" by meglon · · Score: 1

      You, also, are a fucking idiot.

      --
      Fascism: An authoritarian and nationalistic right-wing system of government and social organization. See also: NAZI's
    112. Re:Making money is not a "moral requirement" by PopeRatzo · · Score: 3, Insightful

      The polio vaccine was not a drug...

      OK, fair enough.

      https://en.wikipedia.org/wiki/...

      Corporations do develop drugs.

      I'm gonna let you in on a little secret: A corporation is a legal fiction created by a government granting a charter. Their purpose is to minimize liability for the owners and to create a tax benefit for aggregated capital. Period. That's all they are. That's all they do. No corporation has ever developed anything but shareholder value. Certainly, no corporation has ever developed a drug.

      --
      You are welcome on my lawn.
    113. Re:Making money is not a "moral requirement" by thegarbz · · Score: 1

      Something actually immoral, would be to take pleasure in the suffering of others.

      Well I'm going to hell for subscribing to Today's Big Fail on youtube... and laughing.

    114. Re: Making money is not a "moral requirement" by meglon · · Score: 0

      No, he got it exactly right, dipshit.

      --
      Fascism: An authoritarian and nationalistic right-wing system of government and social organization. See also: NAZI's
    115. Re:Making money is not a "moral requirement" by thegarbz · · Score: 1

      we can't allow free market conditions.

      Nitpick: A monopoly is a free market condition. It's also the stable state of a free market, competition is an inherently unstable state. What you are talking about are "perfect market" conditions. A perfect market (competition) is different from a free market (lack of all regulation).

    116. Re:Making money is not a "moral requirement" by thegarbz · · Score: 1

      Was it worth $50k to you? One could argue that you wouldn't be here to write this lovely tome without that surgery...

      It's worth what the market will bear. Unfortunately regulator capture prevents you from joining markets where you get your appendix out for nothing... like in my case. And yes it was worth it.

    117. Re:Making money is not a "moral requirement" by Ol+Olsoc · · Score: 1

      But maybe it's what they teach at MBA courses.

      Anyhow, time to decommercialise medicine. Yes, I know it sounds pinko commie socialist. Even so.

      Why do you think markets can't correct this type of behavior?

      "Goodwill" is also an asset - one that's actually quite valuable.

      This CEO just shat all over whatever goodwill his company had.

      And how! Ask Martin Shkreli, who tried this trick. What was funny was earlier headlines said that the Government couldn't do anything about it. NOw he's a convicted felon.

      And that's the issue. Like it or not, Slashdot hardcore, there are some people in the world who won't sell their enemies the bullets to kill their countrymen.

      Expect Nirmal Mulye's activities and those of his company to be examined in great detail. People who believe that profit is a matter of morality, will probably have many exceptionally interesting details of their activities just there for the plucking. Another popcorn and tequila party is in the offing. Kettle corn is great with cheap Tequila,

      --
      The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
    118. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      This is greed. There was no "Asshole 701" course offered in my program.

      I'm glad to hear that and I've heard there have been reforms. Back in the 80's I was doing homework in a hallway between classes and a business school class had the door open. The teacher was talking about advertising. A large section was on deceptive advertising and it was sold as a good technique. Not a word about ethics. Not a word about bad faith. Not a word about how people would view a company that used such tactics. No, it was simply Asshole 101 (undergrads). It was over a decade later that I first heard these schools had an ethics crisis and were starting to change.

    119. Re:Making money is not a "moral requirement" by narcc · · Score: 1

      You're not helping them "back in to reality". You're tearing them down to make yourself feel superior.

        I find that reprehensible.

    120. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 3, Informative

      Pharma startups spend millions to test millions of candidates

      And they spend two to three times as much on advertising as they do on R&D. There may be risk involved, but the bulk of the money is going on pimping their wares, not developing new ones.

    121. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      So a religious belief is akin to the free market can fix anything ??

    122. Re: Making money is not a "moral requirement" by ceoyoyo · · Score: 1

      The NIH spending forty billion dollars a year on it helps.

      Careful though, you're conflating "invented" with "patented and sold." Many drugs are discovered or invented not-in-the-USA, and then sold to an American company. Although even then, several of the major pharma companies are NOT American companies.

      For example, one project I was involved with was a drug designed and initial human trials done by a Japanese company, then sold to an American pharma corp once it passed phase II trials.

    123. Re:Making money is not a "moral requirement" by FormOfActionBanana · · Score: 1

      Viracept was developed by Agouron Pharmaceuticals as part of a joint venture with Eli Lilly and Company. Whose seed work did they harvest?
      Vancomycin was first isolated in 1953 by Edmund Kornfeld (working at Eli Lilly) from a soil sample collected from the interior jungles of Borneo by a missionary. Who contributed the seed work for that?
      Tamiflu was discovered by scientists at Gilead Sciences, Inc.
      Sure, there are many game-changing drugs that emerge from university research, but not all of them. I would bet that half of the game-changers since 1990 have emerged from basic, commercial research.

      --
      Take off every 'sig' !!
    124. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      When ever you see prices go up with do logical reason; just tell everyone your see, "The CEO needs a new boat".

    125. Re:Making money is not a "moral requirement" by angel'o'sphere · · Score: 1

      I guess we will see Occam's Razor soon, too!

      --
      Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
    126. Re:Making money is not a "moral requirement" by angel'o'sphere · · Score: 1

      but refuses to mention Norway and Sweden and they're doing-better-than-the-US society.
      However both are not socialist countries ... so what is your point?

      The official term is social democracies, e.g. they have multiple parties, but unlike US a sane voting system. They don't have a planned economy like communist/socialist countries ... but then again, e.g. China has no real planned economy either.

      --
      Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
    127. Re:Making money is not a "moral requirement" by barc0001 · · Score: 1

      As people still think in France, England, Sweden, Finland, Norway, Germany, Belgium, Norway, The Netherlands, and Canada among many other places.

      And Argentina isn't and hasn't been socialist, FYI.

    128. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      wow you are dumb

    129. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Well, I don't fucking like narcs.

    130. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Nice bit of "pinko commie socialist" hyperbole, but a strawman nonetheless.

      There's no need to force, a bit of PR campaigning might be sufficient. Or not even that: Simply the presence of a threat motivates people to dedicate their careers fighting it. Such people will likely be academics, who'll do lots of hard work for relatively little money, belying the argument that only lots of money can properly entice.

      Anyway, "pharma startup culture" what? Like Theranos? "Startup culture" is a silly con valley thing, and it really doesn't work so well outside Calfornian garages, or like these days, starbuckses filled with apple-toting hipsters.

      Besides, while Russian five year plans were decidedly disastrous, the Chinese five year plans are actually going quite strong. They don't go into details, but bring strategic direction to the table. Something that's very very hard in American politics with its recurring four year event horizon, half-period meltdown, and continuous campaigning getting in the way of getting anything of decent size done.

    131. Re: Making money is not a "moral requirement" by TimMD909 · · Score: 1

      Not everyone can get the Friends and Family discount like you.

    132. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      It's not the drug maker saying "do you want to live" it's the disease. The disease is saying, i'm going to try to infect you. Luckily for you, some people thought you might like to have a weapon to fight back! They designed medical ak-47's to combat the invaders of your body. It took a lot of research and expense and logistics and marketing to do so. They did it speculatively, assuming that you and other people being invaded might pay them enough to make a return on their investment.

      Now a patient is being invaded, and claiming its too expensive to buy weapons to defend themselves, saying it is immoral for these guys to try to make money by providing you with defense. Seems different when viewed that way, no?

    133. Re:Making money is not a "moral requirement" by Jerry · · Score: 1

      The distinction is only in your mind. Marxists use the label "socialist", or "progressive" or "Liberal" as an invisibility cloak to hide their true intentions, totalitarian rule. Once they get power, as is evident in Venezuela or Cuba or China, the cloak comes off. Citizens of the EU are getting a whiff of it now.

      --

      Running with Linux for over 20 years!

    134. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Thanks for posting it makes you feel it is reprehensible. I'm glad you were able to (try to) elevate yourself by putting others down with your social signalling.

      Some people might have done that silently to themselves but truly you are the better person for pointing it out here rather than posting your thoughts on the flat earther's page to inform them.

    135. Re:Making money is not a "moral requirement" by cheesybagel · · Score: 1

      China does economical plans. It's just that their plans don't encompass the entire economy. Just the sectors they consider relevant. They also have tried to have "flexible" instead of "inflexible" goals:
      https://en.wikipedia.org/wiki/...

      They also have special projects to meet the goals. For example the J-20 fighter was "Project 718".

      But this is hardly China exclusive since both Europe and Japan also have long term economical plans. Which doesn't make them not market economies though, since those plans are typically achieved by economic stimulus.

    136. Re: Making money is not a "moral requirement" by mapkinase · · Score: 1

      I smell Aynrandian bullshit - an attempt to justify animalistic instincts by some human sounding ideology

      --
      I do not believe in karma. "Funny"=-6. Do good and forbid evil. Yours, Oft-Offtopic Flamebaiting Troll.
    137. Re:Making money is not a "moral requirement" by Mal-2 · · Score: 1

      Try bottling your own tap water and selling it commercially, and see how legal that is. Just because it flies under the radar, that doesn't mean it isn't supposed to be under some sort of regulation.

      --
      How is the Riemann zeta function like Trump rallies? Both have an endless number of trivial zeros.
    138. Re:Making money is not a "moral requirement" by CrashNBrn · · Score: 1

      I would lay odds that of the remaining 95%, more than half of the remaining pharmaceuticals do little more than treat the effects of the modern western diet:
      deep fried, packaged foods and over-consumption of carbohydrates & sugar.

    139. Re:Making money is not a "moral requirement" by McFortner · · Score: 1

      I try to avoid sarcasm online. Back in the mid-90's I made some sarcastic comments about a flat earth trying to point how how stupid it was to avoid Occam's Razor. Then a decade later I see this Flat Earth movement and I fear I may had helped cause that. I now avoid Sarcasm on the internet.

      Oh, so YOU are the one we have to blame for those loonies all over the place.

      Thanks.





      (For the humor impaired, that was sarcasm.)

      --
      Beware of Sales Reps bearing gifts.
    140. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Here is his Facebook.

      https://www.facebook.com/nirmal.mulye

    141. Re:Making money is not a "moral requirement" by lgw · · Score: 1

      Anyway, "pharma startup culture" what?

      The pharma startup culture is as big as the tech startup culture these days (and has much better gender balance). Very similar high business risk, long hours, VC and angel investors, all very familiar to techies.

      Chinese five year plans are actually going quite strong

      You really shouldn't believe anything the Chinese government publishes, you know? Lies upon lies. You do know the trains didn't actually run on time under the Fascists either, right?

      --
      Socialism: a lie told by totalitarians and believed by fools.
    142. Re: Making money is not a "moral requirement" by pots · · Score: 1

      Your claim contradicts the case in point.

    143. Re:Making money is not a "moral requirement" by cheesybagel · · Score: 1

      If people don't pay taxes and GDP is either underreported or companies have off-shore headquarters which hide the produced values then yes, it's kinda natural the fraction of government spending as GDP increases. Welcome to the service economy.

      Like someone was saying on the situation at Boeing right now the conditions workers had three decades ago vs now are night and day.

    144. Re:Making money is not a "moral requirement" by Rhipf · · Score: 1

      Also, corporations don't pay taxes, the people who buy their products do. Arguing that corporate tax rates should increased is a proxy argument for increasing individual rates that is cloaked by cowardice.

      This is only slightly true. People who buy products do effectively pay for corporations taxes. The problem with your statement is that just because taxes increase doesn't mean that that increase will be passed on to the purchasers. If the product is in enough of a demand then the increase may be passed on but if the market can't absorb that increase the increased taxes come out of the profit of the corporation.

    145. Re:Making money is not a "moral requirement" by HiThere · · Score: 1

      Sorry, but even that correction to the current system wouldn't suffice. When you have an urgent medical problem, the only treatment is the one that is available NOW. (That's part of the definition of urgent.) It's true that for chronic conditions removal of patent limitations would allow a market to be created, but many medical conditions are acute rather than chronic. In fact many of them are both urgent and acute. Even this isn't quite right, as some acute conditions can be scheduled, e.g. conditions created during surgery (e.g. pain control) which could in principle have a market, but in practice can't because the purchaser can't control what drugs, e.g., will be used.

      --

      I think we've pushed this "anyone can grow up to be president" thing too far.
    146. Re:Making money is not a "moral requirement" by cheesybagel · · Score: 1

      If there's a high difference between corporate and personal taxes what will happen is people will funnel their personal wealth into their corporations and claim to have no personal wealth to tax. Cue Elon Musk's "i'm living at a friend's house and my divorcing ex-wife is entitled to nothing to for having my three sons because it's all on stock".

    147. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Basically every socialist I've met doesn't actually know what socialism is either. They commonly think socialism is giving away public benefits from tax money, but it's not.

      Socialism means the means of production is owned by the state. Say if you go to the hospital, the medical staff work for the government and get paid by the government to provide services to you (which aren't necessarily free.)

      Welfare is when you go to the hospital, the medical staff are privately employed and paid by a private entity, and the government pays some or all of the hospital bill on your behalf. Nearly all Western socialists mistakenly think this is a form of socialism, but this is not at all socialism. That also means Nordic countries are not socialism.

      Social security is not socialism either, it is nearly in every way a Ponzi scheme, with the exception that the organizer doesn't profit from it, and people who (voluntarily or not) pay into it can have a general idea of how it works. While nobody directly profits from it, it outputs less than it takes in, depending on never ending population growth to function.

      In the West, typically the only forms of socialism are public utilities that are municipally owned and run (meaning, no contractors) and it's typically in a natural Monopoly situation.

      The only socialist states to ever exist tend to have identified as communist (socialism, an idea created by Marx and Edgels, was supposedly the first step that would naturally gravitate towards communism... Obviously that didn't work.)

      Modern examples of socialism would include Cuba and North Korea. Formerly among them were the USSR and its Warsaw pact states, China, and Vietnam. They all gave it up once they realized they could bea hell of a lot better off with capitalism (and, at which point, famine ended almost overnight in China, and Russian grocery stores actually had food in them.) Sure, they claimed to be communist, but in reality they only flirted with it briefly and quickly found that Marxian ideas like having no laws doesn't actually work, and neither did trying to eliminate currency (people just used something else as currency instead, like shark teeth, coffee beans, cigarettes, or vodka.)

      The problem with modern socialists that actually know what socialism is, is that they're trying their damnedest to repeat some of the most deadly mistakes of the past. Even Putin understood just how bad it was while he was still a KGB agent.

    148. Re:Making money is not a "moral requirement" by HiThere · · Score: 1

      Since they're already hiding as much of their profit off shore as they can, this wouldn't cause a change.

      OTOH, it's an excellent argument for the position that profits stored off-shore should be taxed as if not off shore. I'm quite dubious about the entire concept of "multi-national corporation". It makes sense for countries with smaller than average economies, but much less sense for those with larger economies. It should be handled by specific international treaties, such as the EU common market, and international ownership of corporations should not be allowed...which is quite different from saying that corporations from one economy should not be allowed to operate within another economy, but they should do so as foreign actors, and should arguably be prohibited from ownership in local corporations. I'm undecided about whether they should be allowed to be owners of local companies, or partners in local companies, though I lean against allowing them to act as partners.

      --

      I think we've pushed this "anyone can grow up to be president" thing too far.
    149. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      It's not like the Soviet Union or other Communist countries never invented anything useful. Open-end yarn spinning was invented in Czechoslovakia in 1963. Modern synthetic diamond manufacturing techniques (e.g. BARS technology) were invented in the Soviet Union in 1989. The first artificial satellite was put into orbit by the Soviet Union in 1957. Phage therapy treatments were also pioneered in the Soviet Union.

    150. Re:Making money is not a "moral requirement" by Darinbob · · Score: 1

      In Soviet Russia, government laughs at you!

    151. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Corporate taxes are just passed on to the consumer. If he can get away with increasing prices by 4x, he can get away with keeping the same profits after taxes at an even higher price.

      A great incentive to make the corporate tax rate on price-gouging pharmaceutical companies 100% then.

    152. Re:Making money is not a "moral requirement" by Darinbob · · Score: 1

      I am a bit amazed at how flat earthers seemed to have made a big comeback in the last few years. Way back in the 70s we used to laugh at them for sending out mimeographed newsletters from their Airstream trailer in the desert. Are people getting more stupid or was it always there just below the surface waiting for social media?

    153. Re:Making money is not a "moral requirement" by Darinbob · · Score: 1

      Or just attend the next flat earth versus hollow earth wrestling match.

    154. Re:Making money is not a "moral requirement" by Darinbob · · Score: 1

      Now with three blades for a smoother shave!

    155. Re: Making money is not a "moral requirement" by Maxo-Texas · · Score: 1

      The government is weakly responsive to voters.

      The market in this case is not responsive to ordinary citizens at all. It's highly responsive to the rich and powerful.

      Part of the reason the government makes it so hard to get new drugs on the market is due to the influence of the wealthy and the powerful.

      We have evidence from about 1 billion people in 26 other first world nations that a more socialist approach which is more responsive to citizens than a few wealthy corporate owners is much less expensive (30-40% the cost) with better outcomes (higher infant and adult mortality).

      --
      She was like chocolate when she drank... semi-sweet at first and then increasingly bitter.
    156. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      What you have described is not socialism. When the state owns the means of production it is state capitalism.

    157. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Faruq? What the hell is America then?

    158. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      The government represents the corporations. The market consists of corporations. The people are not represented period.

    159. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Cute but inaccurate. A psychopath doesn't give a flying fuck about anything regarding morality. They are amoral seekers of maximized personal benefit.

    160. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Who do you think gives the corporations money to pay for those taxes, buddy?
      The same people buying the drugs (which just got another, further, 400% hike).

    161. Re:Making money is not a "moral requirement" by Teun · · Score: 1

      But it is another proof tax does not always kill the economy.

      --
      "The likes of Facebook and WhatsApp are free to those whose privacy is of zero value."
    162. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      A plutocracy.

    163. Re: Making money is not a "moral requirement" by Teun · · Score: 1

      Which is questionable, since over two years I am a user of this particular drug and regularly see it coming from different manufacturers.

      Good for me and other users because the patent ran out years ago anyone with the skill is allowed to produce and market it.

      --
      "The likes of Facebook and WhatsApp are free to those whose privacy is of zero value."
    164. Re: Making money is not a "moral requirement" by c6gunner · · Score: 1

      Yo momma.

    165. Re: Making money is not a "moral requirement" by bloodhawk · · Score: 1

      These guys aren't the market leader, they make a generic form of the market leader.

    166. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      What you have described is not socialism. When the state owns the means of production it is state capitalism.

      Here, this should help:

      https://www.merriam-webster.com/dictionary/socialism

    167. Re: Making money is not a "moral requirement" by c6gunner · · Score: 1

      The NIH spending forty billion dollars a year on it helps.

      It's great that you can throw around random numbers, but total money spent on medical R&D in the USA is $170 billion+, of which private industry accounts for 67.4%. Do you have some figures on how EU spending compares?

      Are you suggesting that the EU under funds their universities and public research programs as opposed to the US? Really? The big eeeevil capitalist USA is spending more money on public research than the happy rainbow-farting socialist EU?

      Something is a wee bit off with your narrative.

    168. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      c6gunner at least he didn't run from backing himself up like you did after you tried to put down someone that does better than you can whom you also impersonated like the childish moron you are and he humiliated you publicly for it https://slashdot.org/comments.... . Serves trash like you right that public humiliation you worthless menial greasemonkey.

    169. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      "Wow, you're just a complete cretin, aren't you?" by c6gunner on Thursday April 08, 2010 ROTFLMAO after seeing that c6gunner spoke of himself.

    170. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Gonna go cry to Yo Momma c6gunner after the public spanking you got from apk after you tried putting him down here https://linux.slashdot.org/com... to which you resorted to the actions of a frustrated child not only impersonating him but also ALTERING THE WORDS OF THOSE THAT LIKE, USE AND PRAISE HIS WORK https://linux.slashdot.org/com... and all he said was if you're going to try put him down show you can do better? You're one pitiful bastard and he's right all you are is a fake name for your fake LIE of a wasted life when that's the best you got.

    171. Re:Making money is not a "moral requirement" by Barsteward · · Score: 1

      When he tears their proofs down with factual scientific answers and they still deny the facts then deserve to be laughed at. Its like laughing at Trump for all the fake news he puts out.

      --
      "The hands that help are better far than lips that pray." - Robert Ingersoll (1833-1899)
    172. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      However, you can't make it illegal for competition to exist ... without expecting the prices to be high.

      Yes we can. We regulate them.

      The problem with free markets here is they don't apply well to the actual use cases. Sure optimizing on products that appeal to a larger percentage of the population is easy, but those that help a small percent? That is probably not going to happen unless the prices are sky high. Basically if you add regulation to the top even less of the less profitable work gets done.

      I'd like to see politicians the world over set up a framework where ethical medical research and development costs and results are shared. That way the money generally goes farther and helps more people. Yes it is a non free market approach, but sometimes that is the correct approach, and you can still have governments contract out the work to the bidder that provides the best deal. Basically regulation alone isn't necessarily enough, though I agree it is necessary.

    173. Re: Making money is not a "moral requirement" by dave420 · · Score: 1

      What deos "centralized power in government's hands" mean? Doesn't that describe every single developed country on the planet? If it does, why did you pick Russia and China out of that list, when they're not at all representative?

    174. Re:Making money is not a "moral requirement" by aquacrayfish · · Score: 1

      We don't need to heavily regulate this particular market.

      You're kidding, right? Medicine??? Yeah, who cares if people die - we're regulation-free!

    175. Re:Making money is not a "moral requirement" by aquacrayfish · · Score: 1

      "Competes" is a very loosely-defined word in this arena. Does aspirin compete with ibuprofen? Does marijuana compete with all opioids? Those are but 2 examples.

    176. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Nuh uhhh

    177. Re:Making money is not a "moral requirement" by shaitand · · Score: 1

      There is a gap between heavily regulate and regulation free you know.

      And yes, people do have the right to be idiots and kill themselves. The responsibility is to show them the water, they have every right to decide whether or not to drink for themselves. Letting them do so is how we can allow independent and even anti-social behavior, views, and ideas and yet grow stronger over time. Our responsibility as a society is more along the lines of stopping people from providing "water" that isn't water so that the results actually reflect the merits of the choices made be they good or ill.

    178. Re:Making money is not a "moral requirement" by tepples · · Score: 1

      A perpetual patent on an invention would exceed the power of Congress under the Constitution. Faking a perpetual patent through successive extensions not intended to harmonize the term with that of a major trading partner could constitute what the Supreme Court referred to as "legislative misbehavior" when upholding the Copyright Term Extension Act of 1998.

    179. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      No, this is just how a sociopath thinks. Quite literally, a sociopath thinks that anything that benefits him (regardless of what happens to the rest of the world) is morally right.

      Morals are what compels a human to do something. Corporate charters spell out the fiduciary duties of the company leadership, compelling those humans to act accordingly. Consequently, corporate charters are the embodiment of corporate morals. If the corporate charter focuses on the fiduciary responsibilities of company leadership, the morals of the corporation are sociopathic, and they are so in the interest of its shareholders.

      Basically, corporations act as a buffering mechanism letting its shareholders profit from sociopathic activities without feeling guilt.

      If a human states "making money is a moral requirement" as a CEO of a company with a charter focusing on profit, people are annoyed at the CEO rather than at the shareholders responsible for supporting a charter spelling out the corporate moral.

      Which means that the smoke screen is working.

    180. Re: Making money is not a "moral requirement" by ceoyoyo · · Score: 1

      Sorry man, I don't want to get into a proxy argument about America and capitalism. You're clearly emotionally invested.

    181. Re:Making money is not a "moral requirement" by narcc · · Score: 1

      Deciding what people in an out-group "deserve" is dangerous thinking. You can justify some pretty awful things that way.

    182. Re:Making money is not a "moral requirement" by lgw · · Score: 1

      People do that already with their non-incorporated businesses, and with non-profit corporations, and the IRS is fully aware of all the cheats, and tax law keeps up with new ones. Taxing the profit when it moves to owners is enough.

      --
      Socialism: a lie told by totalitarians and believed by fools.
    183. Re:Making money is not a "moral requirement" by lgw · · Score: 1

      Pharma startup don't advertise, as the only thing they sell is the company. Large pharma companies do little research, instead they buy the startups. It's just like tech that way.

      --
      Socialism: a lie told by totalitarians and believed by fools.
    184. Re: Making money is not a "moral requirement" by c6gunner · · Score: 1

      That's a cute way of saying "I have nothing to back up my claim". You could have just said so right away.

    185. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      c6gunner you're a hypocrite. You ran from a challenge apk put to you after you mocked him https://linux.slashdot.org/com... worse you had to alter the words of others that like, use and praise HIS work https://linux.slashdot.org/com... like a childish moron would. You with nothing to show for yourself but a fake name online no less. You're disgusting.

    186. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      "you managed to make him look like a complete tool." by c6gunner on Wednesday March 24, 2010 @06:55AM (#31595490) c6gunner you did that to yourself proven here https://slashdot.org/comments.... what a complete tool you are.

    187. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      Your software is just crap - written in crayon, fictional... I'm going to continue using the Host File Engine as a punchline to a joke by mmell February 17, 2017

      Your premise that hostfiles are a good way to deal with advertising and malvertising is fucking insane - by JazzLad April 20, 2016

      his hosts "program" is actually a broken batch file by xenotransplant August 10 2015

      his hosts tool is actually useful for those cases in which one does indeed want to be a laughingstock while consuming excessive amounts of alcohol by alexgieg September 25 2015

      I like your tinfoil hat by Karmashock September 09 2015

      that APK nut, I can't get him to stop talking about his piece of shit file by rogoshen1 Tuesday March 03, 2015

      I personally use a HOSTS file blocker produced from a genius called APK by 110010001000 October 27 2017

      APK

      P.S.=> When YOU do better than THAT by our /. registered peers, then talk (from behind your FAKE NAME for your FAKE LIE of a "so-called" WASTED life) - ok? apk

    188. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      c6gunner = busted impersonating apk w/ same altered words of slashdot users posts with his fakename account https://slashdot.org/comments.... + not posting all day long now suddenly. Why's that? Ashamed??

    189. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      c6gunner = busted impersonating apk w/ same altered words of slashdot users posts w/ your fakename account https://linux.slashdot.org/com... + you're not posting all day long now suddenly. Why's that? Ashamed??

    190. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      are you being sarcastic, or are you serious?

    191. Re:Making money is not a "moral requirement" by BranMan · · Score: 1

      No - not really. It has already been floated around that it would be legally / constitutionally permissible to set the term for copyright to "forever minus 1 day" since technically (and thus legally) it is still a "limited term".

      Violates the spirit of the Constitution, but not the letter of it.

    192. Re:Making money is not a "moral requirement" by Kelsen · · Score: 0

      You would have to get more than twice as smart to be an imbecile.. Communism is a specific form of socialism, No confusion here beyond yours. And he does have an excellent point. No 'sort of' about it. RFT!!! Dave Kelsen -- The price of anything is the amount of life you exchange for it. -- Henry David Thoreau

    193. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      My friend and I did this exact same thing. We photoshopped Holocaust pictures to remove the dead bodies way back in the mid 90's, and lo and behold; today actual Nazis are sharing our photoshopped pictures as "the real images before leftist doctoring". What's even worse is my friend I did this prank with is now an actual swastika carrying Nazi, and uses what he KNOWS is fake to recruit more idiots.

    194. Re:Making money is not a "moral requirement" by HappyPsycho · · Score: 1

      The government couldn't get him on hiking the price of the drugs, they got him on securities fraud.

      He is very clearly the exception and even then not even a good case study about the actual issue https://www.pharmacist.com/art... the company actually selling the drug that he was a CEO of didn't drop the price, he was dumb enough to take the heat off of them and now they get to rake in the profits.

      Just checking his history he did this exact thing before tiopronin (brand name, Thiola) was spiked in price from $1.50 to $30 a pill but this time he wisely kept out of the public spotlight and got away with pretty much zero consequences. So maybe if the person is that cocky / stupid that they create so much public pressure that they end up denounced by pretty much all the presidential candidates and find themselves in a congressional hearing and then all the government can get to stick are three securities fraud charges which got him a whopping 7 years in jail and 7.5 million fine (his net worth now is 27.1 million).

      That doesn't sound like the government has much control if such an extreme case like Shkreli will be free in less than a decade. None of the drugs he spiked in price have gone back down to anywhere near the pre-Shkreli price spikes so the damage is pretty much done and is not reversing nor do I expect it ever will.

    195. Re:Making money is not a "moral requirement" by HappyPsycho · · Score: 1

      and the desire is there

      Um, the politicians that will actually be voting on the law have the desire? Not sure I agree with that conclusion.

    196. Re: Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      They have always been that stupid, and the early internet didn't help them (too stupid), but the ease and pervasiveness of social media lets them echo off each other.

    197. Re:Making money is not a "moral requirement" by Ol+Olsoc · · Score: 1

      The government couldn't get him on hiking the price of the drugs, they got him on securities fraud.

      There is an old saying in law enforcement that the first time a person is caught is not the first time they have broken the law. I'm pretty certain that goes for our buddy that recently hiked his prices too. Get a few reporters and law enforcement looking into it, and he's probably had a lot of shady dealings.

      We've been seeing that a lot lately, with some folks who blazed a path of illegal moves and shady dealings. They would have continued forever under the radar, except for their mob boss becoming President.

      --
      The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
    198. Re:Making money is not a "moral requirement" by Oswald+McWeany · · Score: 1

      Um, the politicians that will actually be voting on the law have the desire? Not sure I agree with that conclusion.

      Unless it impacts their family directly, they probably wouldn't care all that much- unless it was a big voting issue. Call me jaded; but, I don't really think politicians really ever do anything "for the people" unless they think it would help themselves personally.

      --
      "That's the way to do it" - Punch
    199. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      yes but you can't claim it is free market either if you don't allow the enforcement of IP rights - if you give them all of their other rights back but say that anyone can clone the generic drugs then you still aren't creating a "free market". At the same time the FDA does need to be in there or you end up with things like the thalidomide incident - or many others where drugs that didn't go through proper trials really screwed the pooch. Honestly I think that healthcare in general needs to be taken out of the realm of competition because if you don't, crap like this is going to keep happening since these guys, like it or not are not in the game to make people's lives better, they are in it to make bank.

    200. Re:Making money is not a "moral requirement" by werepants · · Score: 1

      Was it worth $50k to you? One could argue that you wouldn't be here to write this lovely tome without that surgery...

      Here's the thing - a rational actor would pay almost anything for life-saving medical treatment. In a strict, quantitative sense, yes, it is always worth it. Which is why healthcare is inherently a broken market from the outset. You need to have competition, information, and elasticity of demand for a market to function properly, and in many cases you don't have any of these. If you need an emergency procedure to save your life, you pay their price or die. You can't wait (no elasticity of demand), you can't go to a competitor (single provider in most areas, and in any case these things are often time-sensitive), and in terms of being an informed consumer, you have to take the doc's word for it on what procedure you need. Many times you don't even get to see or discuss the price up front.

      There's no reason to think that a health care market will ever reach an equitable outcome without regulation imposed from the outside to correct the deficiencies inherent to the sector.

    201. Re:Making money is not a "moral requirement" by Anonymous Coward · · Score: 0

      > Many times you don't even get to see or discuss the price up front.

      I recently had a hypertensive crisis, and urgent care sent me to a local hospital's ER in an ambulance.

      They kept me for two days while running tests (x-rays, scans, blood work) and deciding how best to treat me.

      At no time did any doctor or staff member mention anything about the cost (let's just say a hospital room is on par with a five-star hotel). I knew the ambulance ride would be expensive up front, though.

    202. Re:Making money is not a "moral requirement" by shaitand · · Score: 1

      "Try bottling your own tap water and selling it commercially, and see how legal that is."

      You do realize that dozens of companies are doing exactly that? Walk into Walmart for an example. Or outside many stores where you can purchase large bottles of water and fill them from machines that are nothing but filters hooked up to the tap. There are always vague and broad laws where there is discretion involved and most every human activity could be tossed under one of them but it is unlikely the courts would buy an attempt to stop me from selling water without new legislation.

      In this case, the precedent is well established. Essentially every "herbal" remedy and formulation piggy backs on this (although there are special FDA exemptions for actual herbs most herbal remedies and alternative medicines are not actual raw herbs). LSD became so popular because when first invented it was perfectly legal for quite some time. Pretty much the only thing that would get in the way is the analog substances act.

      By your logic we operate with a default deny rule and only things which the government whitelists are allowed. If that were really the case I'd suggest we remind them that their authority is entirely by consent of the governed. But the reality is that the default rule is everything is legal unless blocked by law. Even if there is a law, it isn't going to explicitly cover something new and every day that it is clear those who should enforce it have demonstrated they don't feel it applies by not doing so, they weaken their argument it applies should they ever attempt to do so. Not enforced is not "under the radar."

      Just admit it, you are reaching here. When it comes to new substances the precedent is well established, unless you are making some kind analog for an illegal drug, or making some kind of medical claim regarding it, you can sell it all day long. If you are worried you can't sell it without skirting the line just follow the tried and true practice of mixing with an herb that is "believed" to help with the same thing or produce a GMO of said herb to actually include your ingredient.

  2. False flag? by Anonymous Coward · · Score: 0

    Seems suspicious

    1. Re: False flag? by Anonymous Coward · · Score: 0

      False flag for what, getting (more) rich?

      Donâ(TM)t throw around terms when you donâ(TM)t what they really mean.

    2. Re: False flag? by Anonymous Coward · · Score: 0

      False flag for pretending to be an evil greedy pharma guy when really you are just trying to change the system for the better but you are doing it by bringing attention to the types of bad behavior that can go on (but rarely do)

  3. What do you know the man is a comitted lefty by Crashmarik · · Score: 1, Informative

    https://www.campaignmoney.com/...

    Either that or he just thinks his campaign contributions are best placed with them.

    1. Re:What do you know the man is a comitted lefty by fred6666 · · Score: 5, Informative

      On a world scale, the US democratic party is on the right of the center of the political spectrum. Despite being in power for years, they still didn't implement basic social net such as free health care that are considered standard everywhere else in the developed world. Even right-wing political parties support the idea in most places.

    2. Re:What do you know the man is a comitted lefty by Anonymous Coward · · Score: 0

      And look at the comments on Ars... "Keep this up and everyone will be clamoring for socialist healthcare".

      So yeah, I'm actually leaning towards some asshat doing this to prove that you can be a corrupt capitalistic asshole and that's why we all need daddy government to come in and take over all this stuff.

      Good find.

    3. Re:What do you know the man is a comitted lefty by Anonymous Coward · · Score: 0, Funny

      This is probably the US is the sole remaining superpower, and the safe-haven location for the world's money right now. If all your friends decided to jump off a cliff, would you jump too? These kinds of systems are put in place in areas where the population is incapable of taking care of themselves, I refuse to believe that even in this day and age the USA has deteriorated to that point (yet).

    4. Re:What do you know the man is a comitted lefty by Anonymous Coward · · Score: 0

      First, thanks for point this out on an American site speaking to American issues. Very helpful!

      Second, "free health care". LOL.

      Third, the US was the first nation with any form of group healthcare. We led the way; you took the lessons and made it better. But we're in this rut and stuck with version 1.0 that was based on employers. Let's not act like the US is just "head in the sand"... and everyone in the EU is some enlightened saint...

      Fourth, we have Medicaid and Medicare and several other options for those that are poor. It's not as if there is no resources available.

    5. Re:What do you know the man is a comitted lefty by Anonymous Coward · · Score: 0

      Free health care? Over here it recently got remodeled into "everyone is REQUIRED to pay one of the blessed insurers for a policy that doesn't cover what you need". Alright, it's only 1300 euros a year or so, not 1000 dollars per month, but still. That's right, that's euroland and the local politicians literally sold the scheme with "free market blessings wh00wh00" for an argument. So I'll just blame that utter fuckwit unca milty and his even stupider hangers-on for having infected our weak-willed politicians with their defective non-ideas.

      Anyway, no, free health care ought to be considered standard, but there's places in the developed world where the politicians are stupid enough to try and take a reasonably working system and subvert it into a really expensive boondoggle to the detriment of both patients and health care professionals, to the sole benefit of a bunch of government-blessed insurers.

      And yes, the USA is still the leading example that others follow, as our politicians did in this. Sad!

    6. Re:What do you know the man is a comitted lefty by Brett+Buck · · Score: 0, Offtopic

      Do your argument is that as stupid as theUS left are, they are still less stupid than the rest of the world? Dumber than Maxine Waters, Bernir, or Ocasio-Cortez? That's quite an argument.

    7. Re:What do you know the man is a comitted lefty by Anonymous Coward · · Score: 1

      This is probably the US is the sole remaining superpower, and the safe-haven location for the world's money right now. If all your friends decided to jump off a cliff, would you jump too? These kinds of systems are put in place in areas where the population is incapable of taking care of themselves, I refuse to believe that even in this day and age the USA has deteriorated to that point (yet).

      You can't be so stupid as to actually believe this. I refuse to believe there are people that far below a basic level of intelligence. You must be a troll.

    8. Re:What do you know the man is a comitted lefty by fish_in_the_c · · Score: 1

      My friend -- There is no such thing as 'free'. There is only 'not directly paid for'. The labor and materials to create the artifacts ( tools and medicine) cost more the a few somebodies quite a great deal , and that is not to mention those who perform the diagnosis and dispense the needed medicine. There can not be any realistic question about someone paying for all these things, the only question is who and how.
      Do you pay for them directly as you consume them?
      Do you pay for them via a direct tax that is then distributed to all consumers?
      Or do you pay for them via a indirect tax ( say national income tax) so there is not even a easily traceable connection between paid money and services provided?
      Another important aspect to consider is who is in control.

      Each system has it's trade offs.

          I would agree, that as a Christian value , everyone should have access to needed health care. I don't think that is as easy a case to make from any other world view. So far as I know the Hindu perspective is poor people are poor because of karma and they deserve to be left that way. ( Maybe some Hindu who understands better can correct me on this.) Certainly a Evolutionist might argue that providing free health care is weakening the natural mechanisms that are in place to keep the species healthy and prevent overpopulation.

      Is it better to allow a paid system for some and set of free clinics for those who can't pay? Is it better to create a system of volunteer who devote themselves to the service of others out of Christian justice and fund there project of free clinics through charitable donations as was done in the past?

      The best answer for a solution to the problem is complex at best especially when you start talking about what is fair and not fair, what best supports human dignity and responsibility with limited resources. The discussion is of coarse complicated when you start adding in many voices who cannot even agree that human dignity ( as images of God) exists.

      --
      âoeTolerance applies only to persons, but never to truth. Intolerance applies only to truth, but never to persons.
    9. Re:What do you know the man is a comitted lefty by Anonymous Coward · · Score: 0

      My friend -- There is no such thing as 'free'.

      It's a figure of speech; don't be pedantic.

    10. Re:What do you know the man is a comitted lefty by genfail · · Score: 1

      Democrats today are just 1980s and early 90s Republicans, the Clintons lead that transition. If the actual left rose up the Democrats would get the bullet too. Nixon was to the left of Barack Obama on most issues, including his commitment to bringing pointless wars to an end.

    11. Re:What do you know the man is a comitted lefty by Anonymous Coward · · Score: 0

      Each system has it's trade offs.

      Possessives do not get apostrophes.

      I would agree, that as a Christian value , everyone should have access to needed health care. I don't think that is as easy a case to make from any other world view.

      Even as a capitalist: A healthier workforce is a more productive workforce, with better availability and thus a bigger pool of labourers thus less upward pressure on wages. You could nickle-and-dime everything, or you could give away the "free" healthcare and reap better rewards, monetary and otherwise.

      So far as I know the Hindu perspective is poor people are poor because of karma and they deserve to be left that way. ( Maybe some Hindu who understands better can correct me on this.)

      I'm no hindu but there's the "being cruel to be kind" thing: Sometimes you do need to let people stew in their own misery until they decide they want something better. But there's nothing wrong with making sure there's help available if only they cared to ask.

      Certainly a Evolutionist might argue that providing free health care is weakening the natural mechanisms that are in place to keep the species healthy and prevent overpopulation.

      Funnily enough it's sooner the orthodox christians that'll go "god gave me this illness so I'm not going to have you treat it, it's against god's will!"

      OTOH I would say that if we're going to "weaken natural mechanisms", say provide healthcare in Africa causing a massive drop in infant mortality (again typically christian missionaries), then we can't afford to not deal with the effects in some other way, say sex ed campaigns, free condoms, and so on, to slow down the inevitable population explosion. Because down there they're still getting ten children, previously hoping at least two would survive into adulthood, now quite sure all ten will survive. Oops. So, we go and "improve" things, we have to go all the way and adjust the rest of the mechanism too.

    12. Re:What do you know the man is a comitted lefty by Sperbels · · Score: 5, Funny

      That's one of the reasons there is so much joint animosity against the current President, he's actually trying is damnedest to keep his campaign promises and that is a threat to the permanent politician class.

      Indeed, when I think of Donald Trump I think of a man who keeps his promises. A paragon of virtue right there. Quite a catch.

    13. Re:What do you know the man is a comitted lefty by fred6666 · · Score: 1

      And we should care about this exactly WHY...??

      You'd know if you actually read the discussion. The OP called that guy a leftist. I merely pointed out that supporting the US democratic party don't make you a leftist, at least on a world scale.

    14. Re:What do you know the man is a comitted lefty by fred6666 · · Score: 1

      This is probably the US is the sole remaining superpower

      No, that's because the US is large and populous. The rest of the first world is not populous enough but can be richer (Norway, Switzerland, Luxembourg, to name a few).
      Russia is both large and populous but is way too poor and lost its super power status because of that.

      Split the US into 50 countries and none of them would be a super power either. It would be like the EU.

    15. Re:What do you know the man is a comitted lefty by Crashmarik · · Score: 1

      On a world scale, the US democratic party is on the right of the center of the political spectrum

      Can you even define what right of center is ?

    16. Re:What do you know the man is a comitted lefty by Anonymous Coward · · Score: 0

      When was the democratic party last really in power? 1992, for 2 years. 2009 for like 6 months until one senator died.

    17. Re:What do you know the man is a comitted lefty by lgw · · Score: 1

      they still didn't implement basic social net such as free health care

      Free? Really? What propaganda.

      Paid for by taxes instead of paid for by consumers. Nothing's free. The US covers the poor and the elderly, with government medical spending accounting for about 45% of the industry.

      US government spending on health care works out to ~$12,500 per taxpayer. That's not a small bill. We consume a heck of a lot of medical care in the US ($3.3 trillion in 2016, 17% or our GDP).

      How much does your government spend per taxpayer on medical care?

      --
      Socialism: a lie told by totalitarians and believed by fools.
    18. Re:What do you know the man is a comitted lefty by fred6666 · · Score: 1

      US government spending on health care works out to ~$12,500 per taxpayer. That's not a small bill. We consume a heck of a lot of medical care in the US ($3.3 trillion in 2016, 17% or our GDP).

      How much does your government spend per taxpayer on medical care?

      That's actually the problem of the US health care system. Its cost. It's way too expensive by any measure, but it's especially true given its subpar results (life expectancy, infant mortality, obesity rates).

      My government (as well as just about any other developed country's government) spend much less for better results overall. With less money (per capita), all the population is covered. It might not be perfect, but nobody wants the US system.

    19. Re:What do you know the man is a comitted lefty by lgw · · Score: 2

      The US does most of the medical research for the world, and pays for it. Those are the "better results" from the US system - advances in medicine. "Covered" isn't saying much: at what standard of care?

      --
      Socialism: a lie told by totalitarians and believed by fools.
    20. Re:What do you know the man is a comitted lefty by Anonymous Coward · · Score: 0

      > Despite being in power for years

      Wrong. Thanks for being a buffoon.

      define "in power": the Republicans have been taking over more and more of Congress, and have been blocking (every? major?) piece of democratic (yes, small "d") legislation for over a decade, refusing even to talk with their constituents, let alone Democrats, to attempt to do anything morally upright for the actual people of this country instead of their 0.0001%

    21. Re:What do you know the man is a comitted lefty by fred6666 · · Score: 1

      The US does most of the medical research for the world, and pays for it.

      Who does? Do you have a monthly bill for medical research? Of course you don't. New advances, especially new drugs, are being sold for profit.
      Other developed countries pay for drugs too.

      "Covered" isn't saying much: at what standard of care?

      A standard giving better life expectancy and lower infant death rates. But almost any indicator, the US population health is below the developed world. About on par with many emerging economies.

    22. Re:What do you know the man is a comitted lefty by lgw · · Score: 1

      By an odd coincidence, the US accept more immigrants from emerging economies (and third-world shitholes) than anyone else. Funny how that works.

      --
      Socialism: a lie told by totalitarians and believed by fools.
    23. Re: What do you know the man is a comitted lefty by Anonymous Coward · · Score: 0

      Hit up the shaitstain on FB

      https://www.facebook.com/nirmal.mulye

    24. Re:What do you know the man is a comitted lefty by Teun · · Score: 1

      You are talking about The Netherlands, by most measures they have one of the best health care systems and it improved a lot over the last couple of years.
      It's obviously not free but neither is it expensive, not half what the USA is spending for less cover and it is available to all.

      --
      "The likes of Facebook and WhatsApp are free to those whose privacy is of zero value."
    25. Re:What do you know the man is a comitted lefty by fred6666 · · Score: 1

      That's only because the US has a large population and territory.
      Per capita, a lot of first world countries accept more immigrants than the USA.

  4. sad by fluffernutter · · Score: 4, Insightful

    The sad part is, if making money can be called a "moral requirement", apparently it is more important than the truly moral cause of healing as many people as possible.

    --
    Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
    1. Re:sad by Tablizer · · Score: 1

      Profits replaced Prophets.

    2. Re:sad by avandesande · · Score: 1

      Not really. If a company is not profitable they will go out of business and whatever they are making will be unavailable.

      --
      love is just extroverted narcissism
    3. Re:sad by Anonymous+Brave+Guy · · Score: 1

      That doesn't necessarily follow at all. Just because one company can't provide a product profitably, that doesn't automatically mean no-one else could either.

      In any case, any company that covers its costs is commercially viable. Beyond that, how much profit it makes is a different thing.

      --
      If you disagree, post your argument. (-1, Overrated) isn't your personal censorship tool for views you don't like.
    4. Re:sad by Killall+-9+Bash · · Score: 1

      The sadder part is:

      There is little recognition of the fact that every single share holder (including your grandma that has 1 share of apple) is a rent seeking entity. (And no, i am not using that term incorrectly).

      There seems to be a vague idea in the public that the stock market somehow provides capital that new businesses need to form and grow. I am not someone that work in any sort of finance... but I'm 99% sure that's not how it works.

      --
      "Prediction: within 10 years, Windows will be a Linux distribution." Me, 7-6-2016
    5. Re:sad by avandesande · · Score: 1

      My point was that a certain amount of self-interest is moral for both individuals and corporations.

      --
      love is just extroverted narcissism
    6. Re:sad by Anonymous Coward · · Score: 0

      This only takes you to the point of breaking even.

    7. Re:sad by Thelasko · · Score: 1

      The sad part is, if making money can be called a "moral requirement", apparently it is more important than the truly moral cause of healing as many people as possible.

      That's the crux of the issue. The financial system in the US is designed around one goal, make money for investors. However, the world doesn't work that way. In cases like this, there are two goals, and they may not be aligned. Now there is a problem.

      --
      One of our competitors trademarked the term "hypothesis". From now on, we will call them "boneheaded ideas".
    8. Re:sad by fluffernutter · · Score: 1

      Stocks are a gamble. That is no different than feeling sad for grandma that she lost all her money at the slot machines. You pay your money, you take your chances.

      --
      Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
    9. Re:sad by fluffernutter · · Score: 1

      Self interest is never moral. Morality is a sense of good and bad; that does not come into play if you are helping yourself because anything you do for you is good for you.

      --
      Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
    10. Re:sad by avandesande · · Score: 1

      If you don't take care of yourself it is bad for people that depend on you. Obviously you haven't the slightest clue about morality or mental health.
      here is a primer for you:
      https://www.google.com/search?...

      --
      love is just extroverted narcissism
    11. Re:sad by fluffernutter · · Score: 1

      Quite a stretch... The shareholders of the company made a gamble; no one assures them of results and they know what they are getting into so no morality there. I'm sure many jobs depend on this company staying in business but you can't tell me this company will go bankrupt if they don't gouge on this med.

      --
      Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
  5. He's not wrong by rsilvergun · · Score: 4, Insightful

    if you accept the premise of private, for profit insurance as a means to access medicine and healthcare and that these companies will be privately traded companies with shareholders then yes, that's where the moral imperative lies. This is one of the consequences of such a system.

    We already know the solution is single payer healthcare. We can see it working in a dozen countries. The question is will we swallow our pride long enough to vote the sorts of people in that'll give it to us?

    --
    Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
    1. Re:He's not wrong by SqueakyMouse · · Score: 2

      He has a legal obligation to the shareholders. Calling it a moral obligation is a strange choice of words.

    2. Re:He's not wrong by Anonymous Coward · · Score: 0

      Insurance providing "access" to healthcare is a destructive neoliberal meme. Access means nothing when the deductible is so high you might as well not even have insurance.

    3. Re:He's not wrong by fluffernutter · · Score: 4, Interesting

      Canadian here. Most people love our health care system and will fight to keep it. Yes there are some downsides, like some longer waits. Yet people who really need it do get care immediately. It's not really as bad as the vocal minority make it sound. Don't just take my word for it.

      --
      Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
    4. Re:He's not wrong by Anonymous Coward · · Score: 0

      There seem to be at least sixty companies manufacturing the stuff.
      https://pubchem.ncbi.nlm.nih.gov/compound/nitrofurantoin#section=Drug-Labels-for-Ingredients
      What's so special about Nostrum's formulation that merits noncompetitive pricing?

    5. Re:He's not wrong by Anonymous Coward · · Score: 0

      He has a legal obligation to the *BOARD* to achieve their goals.

      You can setup a company with a goal of making zero profit. And it isn't against the law.

    6. Re:He's not wrong by Anonymous Coward · · Score: 0

      Legal? Citation, please.

    7. Re:He's not wrong by Anonymous Coward · · Score: 0

      Those are some fucked up morals

    8. Re:He's not wrong by DrTJ · · Score: 1

      One definition of moral:
      "concerned with the principles of right and wrong behavior and the goodness or badness of human character."
      Another definition:
      "holding or manifesting high principles for proper conduct."

      I would not put "making money" into the category of "high principles". Usually it is the high principles that give way for "making money". Regarding "goodness or badness of human character"; is amassing capital for the shareholders a sign of a good character of a human being? Is it an example of a humble act, or doing something void of self-interest or agendas? I think not.

      On the contrary, someone who exploit other human being's difficult situation for the only purpose of financial gain, is usually viewed as amoral. We have words describing this; e.g. usury. We tells stories about such people, like Ebenezer Scrooge, with the moral of _not_ being moral.

      I fully understand that public companies must make profit for their survival (at least that was the logic before the year 2000). It is as important for them as oxygen is for us. However, our - the beings - sole purpose of life is not be breath. We use our resources to create something good for us and the people around us.

      Similarly, the shareholders of a company is only one of its stakeholders. A company must strike a balance between all their stakeholders (suppliers, customers, employees, shareholders, partners etc) or they will be out of business. Extorting the end-customer for the benefit of a single stakeholder is not a particularly good balance and it is definitely not a moral balance in any meanings we usually associate with that word.

      That sort of behaviour is nothing less than an badly covered greed, and while perfectly logical and legal given the rules and laws, it cannot be considered moral.

    9. Re:He's not wrong by Discgolferusa · · Score: 0

      [sarcasm mode on]

      Yep we see lots of examples of working single payer solutions.

      [sarcasm mode off]

      Our solution is broken, but many 1st world systems are broken. Just giving everyone access to healthcare doesn't necessarily improve healthcare. We have many more issues beyond just that. We need to come up with effective policies for handling wait times, delays for essential testing and services, the inevitable loss of incoming medical professionals when incomes stagnate or fall, and the lack of innovation in medicine that artificially deflating costs will cause (ever wonder why many of these countries sickest people seek help in the US)?

    10. Re:He's not wrong by Green+Mountain+Bot · · Score: 2

      There's no legal requirement to make money. It's necessary to do so for a CEO to keep his job, generally speaking, but there is no legal requirement.

    11. Re:He's not wrong by Anonymous Coward · · Score: 0

      If I vote for those people I will be throwing away my vote. If you voted for those sorts of people last time, its your fault Trump got elected. lulz

    12. Re:He's not wrong by cyberchondriac · · Score: 1

      Agreed.. I feel like someone should tell him, "That word..I do not think it means what you think it means".

      --

      Look back up at my post, now look back down, you're on the Internet. Now look back up. I'm a signature.
    13. Re:He's not wrong by Anonymous Coward · · Score: 0

      > that's where the moral imperative lies

      Moral imperatives are orthogonal to economic structures.

    14. Re:He's not wrong by Anonymous Coward · · Score: 0

      actually there is, its called fiduciary responsibility.

    15. Re:He's not wrong by ooloorie · · Score: 1

      We already know the solution is single payer healthcare. We can see it working in a dozen countries.

      Indeed, single payer healthcare with nationalized health providers can lower costs dramatically.

      The question is will we swallow our pride long enough to vote the sorts of people in that'll give it to us?

      And who would you suggest we vote for? None of the Democrats have actually proposed a European style single payer system for the US.

    16. Re:He's not wrong by Anonymous Coward · · Score: 0

      For me at least I do not want a single payer system. I will take care of myself, you take care of yourself. If we want to get together and form a nonprofit to take care of each other, and other members as well, that's cool. But I do not want the government to take care of me. I feel the same way about social security. Not a very popular opinion, just how I feel.

    17. Re:He's not wrong by SqueakyMouse · · Score: 1

      The shareholders cannot sue a CEO for simply not making money. Then nobody in their right mind would accept a job to turn around a failing company. To successfully sue, the shareholders must prove beyond reasonable doubt that the directors were not acting in the interests of the company. If the company needed to profit on a product to pursue its interests and the board chose to forgo this opportunity, then its shareholders could use this as evidence against the board in a lawsuit.

      I am not claiming to know this company well enough to pass judgement on its CEO. I am saying their are circumstances in which he could accurately claim he is doing what he is contractually obliged to do. Claiming it is a moral imperative seems like bad PR to me, however.

    18. Re:He's not wrong by Pulzar · · Score: 5, Interesting

      Canadian here. Most people love our health care system and will fight to keep it. Yes there are some downsides, like some longer waits. Yet people who really need it do get care immediately. It's not really as bad as the vocal minority make it sound.

      As someone who's lived in both places, I can tell you that the biggest downside of Canadian system over US is all the times where you'd really like to get care right away, but you're not going to die if you don't. *That's* the stuff that really sucks in Canada.

      Emergency room visits where you're not bleeding out on the floor, or finding an obstetrician when you get pregnant that's not an hour away, finding a specialist to listen to your baby's heart when it sounds a little off, father needing a hip replacement... With all of those, I've had bad experiences in Canada.

      In US, if I need a doctor, I can almost always find one the next day, or next week if it's a really unique case. It absolutely sucks having to deal with insurance, costs, and so on, don't get me wrong.... but it is nice to know that I can see someone quickly when I need help.

      Both sides need improvement, and Canadian system is a much better starting point... but it's not all roses up there either :(.

      --
      Never underestimate the bandwidth of a 747 filled with CD-ROMs.
    19. Re:He's not wrong by Anonymous Coward · · Score: 0

      Insurance providing "access" to healthcare is a destructive neoliberal meme. Access means nothing when the deductible is so high you might as well not even have insurance.

      My premiums went up 25% under Obamacare. My deductible is $500 / person or $1,000 for the family. How many in the working class can afford to use their insurance? My family just does the "free" wellness checks and the tests needed to adjust our meds.

    20. Re:He's not wrong by alvinrod · · Score: 1

      I don't think private, for profit companies lead to bad situations. Food is just as (if not more) necessary as healthcare and the free market has no problems feeding everyone. Perhaps its even too good at it given the prevalence of obesity. We haven't had to nationalize the agriculture industry or implement single payer grocery stores. The notion that we need to to this for health care or that it's the only solution is dubious.

      Most of the countries with single payer systems also allow for private health care and it typically constitutes a non-trivial (> 10%) of spending. National health care systems tend to work well up until you get sick of waiting months to see a specialist or get a surgery that could be done in a few weeks. Those who can afford it will get it done privately or travel outside of the country to have the procedure performed there.

    21. Re:He's not wrong by Anonymous Coward · · Score: 0

      Which means you have to act in the best interest of your "client/memebers/shareholders/board" according to the terms they set.

      Most companies do want to make money, sot that is in their terms. But people who work for non-profits also have fiduciary responsibility.

      In terms of a corporation, you just have to act in the best interest of the goals established for the company. It's usually profit and making money, but it doesn't have to be.

      So, you're wrong.

    22. Re:He's not wrong by Anonymous Coward · · Score: 0

      you can, but not as a publicly traded company you can't. They have legal fiduciary responsibilities to the shareholders.

    23. Re:He's not wrong by sinij · · Score: 2

      Now to be fair list downsides of US system, where you are seen immediately but go bankrupt if it is anything serious and long-term.

      The key advantage of Canadian system is that your health care is not tied to your ability to pay.

    24. Re:He's not wrong by Anonymous+Brave+Guy · · Score: 1

      Those duties still don't include an absolute priority of making profit over all else.

      --
      If you disagree, post your argument. (-1, Overrated) isn't your personal censorship tool for views you don't like.
    25. Re:He's not wrong by fluffernutter · · Score: 1

      I forgot to add to my comment, it feels like most of the problems with it could be solved but, bureaucracy tends to wreck things.

      --
      Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
    26. Re:He's not wrong by Anonymous Coward · · Score: 0

      Are you sure? Friends have a super premium health care policy and yet when they wanted to see a doctor about some cognitive issue it took months to get an appointment. Their primary care physician is thinking about going to pay to play mode, where you pay him a retainer amount each month for the right to make an appointment. Ah concierge doctors, the new way to squeeze in america.

    27. Re:He's not wrong by drinkypoo · · Score: 1

      Emergency room visits where you're not bleeding out on the floor,

      These are beyond awful here in the USA. I have waited for hours without anyone even bothering to come and update me because of a shift change. And for that matter, when I got bitten by a rattlesnake, I was supposed to be discharged about 15 minutes after a shift change and then I got forgotten about and wound up being there literally two more hours because nobody could figure out if I should go home.

      --
      "You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
    28. Re:He's not wrong by Anonymous Coward · · Score: 0

      It is a moral obligation. Those shareholders invested money with the expectation that he will act in their best financial interest. To do anything less with their money is immoral. What I find strange is your conception that private people who made this treatment possible with their investment should be forced into accepting a government-dictated return on their investment would be anything other than reprehensible and incompatible with fundamental concepts of a free society.

    29. Re:He's not wrong by Pulzar · · Score: 1

      Are you sure? Friends have a super premium health care policy and yet when they wanted to see a doctor about some cognitive issue it took months to get an appointment. Their primary care physician is thinking about going to pay to play mode, where you pay him a retainer amount each month for the right to make an appointment. Ah concierge doctors, the new way to squeeze in america.

      I'm sure about my experience and those I know near me. I certainly can't claim to represent all of US experiences. One thing I've learned is that experiences wildly differ from state to state, here, in just about everything.

      However, there's definitely wild differences in plans, too... one will let you see anyone you want, while other will require that primare care physician to refer you to someone. If you have the latter, it's quite possibly that the experience sucks.

      --
      Never underestimate the bandwidth of a 747 filled with CD-ROMs.
    30. Re:He's not wrong by Anonymous Coward · · Score: 0

      He has a legal obligation to the shareholders. Calling it a moral obligation is a strange choice of words.

      The correct term is "fiduciary responsibility".

    31. Re:He's not wrong by Pulzar · · Score: 1

      Now to be fair list downsides of US system, where you are seen immediately but go bankrupt if it is anything serious and long-term.

      To be completely fair, it is true that it can happen and does happen, but it is far from common.

      A friend of mine had a baby with a severe birth defect that required full time day and night nurses, frequent surgeries, and monthly visits to the ER.. and she quit her job to focus on the kid and Medicaid, the government health care program, paid for all of it.

      Chances that you get screwed royally are non-zero, unlike in Canada, and that does suck. But it's far from common even if you do have something serious and long-term.

      --
      Never underestimate the bandwidth of a 747 filled with CD-ROMs.
    32. Re:He's not wrong by Frederic54 · · Score: 1

      I'm Canadian, I have to go to private clinic to see a doc or a specialist. Seeing a public doctor is a 12h wait. Seeing a specialist is 2 to 3 years wait time.

      Also going in the ER is a 24 to 48h waiting time (I'm in Québec).

      --
      "Science will win because it works." - Stephen Hawking
    33. Re:He's not wrong by Anonymous Coward · · Score: 0

      You might want to familiarize yourself with the concept of fiduciary duty.

    34. Re:He's not wrong by thegarbz · · Score: 1

      What part of a socialised medical system is incompatible with a private system? Plenty of countries have both happily existing side by side so that those people who freak out at everything or don't believe doctors can piss money against the wall to hear the same non-life threatening thing sooner.

      I mean when you look at some stats, just remember that the USA is better in only a few minor cases, middle of the run in some, and worst in most and you get all that lovely care for the privilege of going bankrupt in the process.
      https://www.healthsystemtracke...

    35. Re:He's not wrong by DaFallus · · Score: 3, Informative

      actually there is, its called fiduciary responsibility.

      Fiduciary responsibility just means acting with the best interests of those represented as opposed to serving your own interests. It does not obligate a company or corporate officer to prioritize profits above everything else.

      --
      No one cares what your captcha was

      Houston TX, USA
    36. Re:He's not wrong by Mike+Van+Pelt · · Score: 1

      actually there is, its called fiduciary responsibility.

      Pretty much.

      There's a huge number of lawyers and law firms that specialize in searching for some company that they can assert is failing in its fiduciary responsibility to its shareholders to maximize profit, so they can file a lawsuit and rake in big bucks. While the actual shareholders who were supposedly owed that fiduciary responsibility get diddly squat, plus the money raked in by the lawyers sucks down the value of their shares.

      Those vultures should be on KoKo's "Never would be missed" list.

    37. Re:He's not wrong by sinij · · Score: 1

      How about just plain old stage 3 cancer that prevents you from continuing working? Can you play out two scenarios: a) gainfully employed Canadian b) gainfully employed American with insurance that provides coverage but no additional disability insurance. Assume diagnosis, radiation, then 3 month until disability due to surgery, follow up chemo and 2 years for recovery involving therapy.

    38. Re:He's not wrong by angel'o'sphere · · Score: 1

      The problem probably is that you go to an emergency room, when there actually is no emergency.
      I guess your baby example with odd heart rhythm would be treated quickly if you simply would go to a children's doctor and not to the emergency room of a hospital.

      --
      Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
    39. Re:He's not wrong by fluffernutter · · Score: 1

      I've lived in two provinces, both had urgent care centers where 4h was considered a long wait. Specialists around 8 months. If you go to an emergency room for an actual emergency, around 2h on average. Didn't realize things were so bad in Quebec, I wouldn't live there if that was the case.

      --
      Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
    40. Re:He's not wrong by fluffernutter · · Score: 1

      I'd hazard a guess that it is French laws causing the problem in Quebec. They probably require all medical staff to speak French, so yeah, there will be less available.

      --
      Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
    41. Re:He's not wrong by fluffernutter · · Score: 1

      My wife had cancer twice, she was in for surgery the next week both times with radiation and chemo starting as soon as she was recovered enough from the surgery. This is the basis for my praise of the medical system here. I would surely be bankrupt by now if I were in the US.

      --
      Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
    42. Re:He's not wrong by fluffernutter · · Score: 1

      As for being paid while you are treated, our health insurance short term / long term disability covered it. It topped up employment insurance which has a lower cap.

      --
      Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
    43. Re:He's not wrong by Pulzar · · Score: 1

      My wife had cancer twice, she was in for surgery the next week both times with radiation and chemo starting as soon as she was recovered enough from the surgery. This is the basis for my praise of the medical system here. I would surely be bankrupt by now if I were in the US.

      First, I'm sorry about your wife. I hope she recovered and is cancer free now.

      Now, what makes you say that you'd be bankrupt in US? There is also short term and long term disability insurance here that you'd get at work, and even if you just wanted to quit altogether and not work, you could still buy health insurance on your own and be covered. You'd have to pay it out of your own pocket, but it would hardly bankrupt you, unless you had no savings at all... which lower taxes in all the previous years of work should've helped build up. And if they haven't, there's Medicaid to help.

      Again, not to say that the US system is perfect, far from it, but the blanket statement that every severe illness leads to bankruptcy is about as accurate as the statements about Canadian system being a complete failure.

      --
      Never underestimate the bandwidth of a 747 filled with CD-ROMs.
    44. Re:He's not wrong by Pulzar · · Score: 1

      How about just plain old stage 3 cancer that prevents you from continuing working? Can you play out two scenarios: a) gainfully employed Canadian b) gainfully employed American with insurance that provides coverage but no additional disability insurance. Assume diagnosis, radiation, then 3 month until disability due to surgery, follow up chemo and 2 years for recovery involving therapy.

      There's all kinds of way it plays out. If you don't have enough savings to pay for health insurance yourself and you also know that you work at a place that doesn't provide disability insurance, then you probably have already bought your own, which kicks in. If you're married, your spouse's plan probably covers you. If you're totally screwed, with no money and no plans, there are federal plans that can help, like social security disability insurance, and medicaid.

      It takes a bit more planning to be prepared, but there are certainly plenty of options. Even in Canada, you should be looking at disability insurance, as what you get from the government is far from enough. They pay your medical bills, but you still have to pay almost everything else with no income.

      --
      Never underestimate the bandwidth of a 747 filled with CD-ROMs.
    45. Re:He's not wrong by Pulzar · · Score: 1

      The problem probably is that you go to an emergency room, when there actually is no emergency.
      I guess your baby example with odd heart rhythm would be treated quickly if you simply would go to a children's doctor and not to the emergency room of a hospital.

      That was not all the same thing, obviously, my father didn't go to the emergency room to get a hip replacement :).

      The baby's pediatrician heard a funny sound in the heartbeat and was concerned that there's a problem with her heart and that a specialist should examine her right away. The said's specialist first available appointment was 4 months out. That, as you can imagine if you are a parent, were very stressful four months. It was most certainly *not* treated quickly. It wasn't even diagnosed quickly, past the "there's something wrong with her heart".

      --
      Never underestimate the bandwidth of a 747 filled with CD-ROMs.
    46. Re:He's not wrong by Pulzar · · Score: 1

      I'd hazard a guess that it is French laws causing the problem in Quebec. They probably require all medical staff to speak French, so yeah, there will be less available.

      What part of Canada do you live in? Toronto is similarly bad, especially in the fast growing suburbs. Markham's hospitals are painfully overcrowded, with doctors frequently doing 48 or 72 hour shifts. The anesthesiologist that was inserting an epidural into my wife's spine had a 15 minute nap after being awake for 24 hours straight. They were diverting other pregnant moms in labour to hospitals an hour away. Screw that free health care, I was thinking to myself back then.. I'd rather pay.

      --
      Never underestimate the bandwidth of a 747 filled with CD-ROMs.
    47. Re:He's not wrong by fluffernutter · · Score: 1

      Because most insurance have lifetime caps. I would have easily hit that by now.

      --
      Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
    48. Re:He's not wrong by fluffernutter · · Score: 1

      Most of my experience is with Manitoba.

      --
      Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
    49. Re:He's not wrong by Pulzar · · Score: 1

      Because most insurance have lifetime caps. I would have easily hit that by now.

      Not true. It's been illegal since 2010 to have lifetime caps.

      Well, except for orthodontics. But, dentists aren't covered in Canada, either.

      --
      Never underestimate the bandwidth of a 747 filled with CD-ROMs.
    50. Re:He's not wrong by Teun · · Score: 1

      The biggest advantage of the Canadian system is no-one is left behind.

      --
      "The likes of Facebook and WhatsApp are free to those whose privacy is of zero value."
    51. Re:He's not wrong by Teun · · Score: 1

      And I can add one more: Sandoz.
      The question is more which drug company doesn't make it?

      --
      "The likes of Facebook and WhatsApp are free to those whose privacy is of zero value."
    52. Re:He's not wrong by fluffernutter · · Score: 1

      And for how long? Current administration doesn't like to keep things stable. Furthermore, how long will they disallow insurance companies from considering past medical issues? Obama was going the right way with ACA, but I can't just assume anything will stay the same to force private enterprises to be fair.

      --
      Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
    53. Re:He's not wrong by Anonymous Coward · · Score: 0

      One definition of moral:
      "concerned with the principles of right and wrong behavior and the goodness or badness of human character."
      Another definition:
      "holding or manifesting high principles for proper conduct."

      I would not put "making money" into the category of "high principles".

      The "high principles" of a corporation are the company charters. They force the (human) hands of the corporation and thus are its morals. "Making money" more often than not is a high priority there. Corporations are a tool to let your actions be governed by sociopathic morals rather than conscionable ones without feeling bad about it. Mammon is not a god but an executioner.

    54. Re:He's not wrong by Pulzar · · Score: 1

      And for how long? Current administration doesn't like to keep things stable. Furthermore, how long will they disallow insurance companies from considering past medical issues? Obama was going the right way with ACA, but I can't just assume anything will stay the same to force private enterprises to be fair.

      Who knows where things will go... Maybe Sanders wins and they go even further towards the Canadian model. Those are the dangers of living in a democracy :).

      The thing is, though, that most people like a lot about the ACA... in fact, pretty much everything except for the mandatory coverage. So, it's going to be hard to roll those things back and not face a lot of backlash. The current administration tried pretty hard, and couldn't do it... as we all get used to its protection further and further, it's more likely to stay in place.

      Who knows. However, the fact is that as things stand now, you wouldn't go bankrupt.

      --
      Never underestimate the bandwidth of a 747 filled with CD-ROMs.
    55. Re:He's not wrong by DarthVain · · Score: 1

      I think you pretty much covered it. However I think I'd add some details from the Canadian perspective.

      Before I get into your comment, I will say that the Canadian health care system is awfully expensive where the bulk of any provincial tax spending by far goes towards healthcare, probably around 60-80% neighborhood in most cases. Of that about the same is just wages. There is a lot of reasons for that, however to make it less expensive that is really the only route.

      There is also difficulties getting service in more rural areas due to demand, though that could be the same for the US. Also getting a family doctor can be a many year wait which isn't also very good. Doesn't help that many Canadian trained doctors head south for better money due to the US system.

      I've always thought the health insurance system in the US is absolutely crazy. As seen with attempted changes, there are big insurance US lobbies that keep it that way.

      At any rate I can attest to the point about the wait times for non-life threatening issues. Basically everyone goes though the same triage, which is pretty specific, and geared towards who may need the more immediate care.

      Sometimes it's no problem, other times you need to wait a considerable long time. There are two major factors that influence this unfortunately for some.
      1) Is that people without a family doctor (see above), will go to emergency which just clogs up the system with people who don't really have an emergency.
      2) The age of those involved and the issue they are having...

      So for example I've gone in with a broken bone before and sat for hours, however there is a really good chance that isn't gonna kill me, even though it may be painful. However if at the same there are a lot of elderly folks in for whatever, or babies they all are going to get priority over you because they have an increased chance that something that might be minor for an adult might be deadly to them. Also it doesn't help that many paranoid parents bring their babies in for any sort of fever or sniffles etc...

      I remember distinctly one instance where I was waiting and there was a construction guy with a spike through is hand with napkins bleeding all over the place. I offered to let him go first, and they were like, nah he is fine that ain't gonna kill him anytime soon...

      Anyway Canadian system is far from perfect and could use serious improvement, but I think it is still far better than the US system.

      Oh and one last thing that I always thought was a bit wacky about the Canadian system... It doesn't include eyes or teeth. You're on your own with insurance much like the US for both of those things. So if you get in a fight and someone breaks your arm, it's all taken care of. However if they knock out your teeth, you're on the hook for paying for it, which is a bit nuts in my estimation. So not in the face! Also perhaps why beyond hockey why people might be missing a tooth here and there in Canada.

    56. Re:He's not wrong by Cederic · · Score: 1

      It's in the shareholders' interest for him to assure the long term value of their property.

      Pursuing short term cash flow at the expense of alienating customers and damaging the company long term is not in the shareholders' interest.

      Of course, some shareholders would disagree. They want a big dividend, or intend to sell in a few months, and want short term gains.

      So there's no moral obligation at all. There's a moral obligation to pursue shareholder interests, but translating that into 'profiteering is moral' is reprehensible.

      forced into accepting a government-dictated return

      They wouldn't be. They'd have the option of not investing in a market for which the government has capped returns, or investing in a market in which the government has negotiated returns that allow a healthy profit without detriment to broader society.

      Which is far from reprehensible.

    57. Re:He's not wrong by Cederic · · Score: 1

      The UK system works well. Emergencies are handled immediately, with no charge at the point of use.

      Routine doctor visits can happen same day, within a couple of days or within a couple of weeks.
      Specialist visits can take much longer - usually months.

      But.. that's on the NHS. You can also ring any of a dozen private health companies and get an appointment the next day.

      Sure, it'll cost money. But the option is there. Often the same specialists are available privately that you'd have seen on the NHS; quicker, but more expensive for you.

    58. Re:He's not wrong by fluffernutter · · Score: 1

      The fact of the matter is, I trust the Canadian government more than I do American private enterprise. No, that's not democracy, that's American's interest in catering to private enterprise.

      --
      Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
  6. This man gives off by fredrated · · Score: 4, Insightful

    the stench of evil.

    1. Re:This man gives off by Anonymous Coward · · Score: 0

      I kinda feel morally required to punch his lights out...

    2. Re:This man gives off by Thelasko · · Score: 1

      the stench of evil.

      He's like a Joel Osteen Franciscan.

      --
      One of our competitors trademarked the term "hypothesis". From now on, we will call them "boneheaded ideas".
    3. Re:This man gives off by Anonymous Coward · · Score: 0

      He's like a Joel Osteen Franciscan.

      On the off chance that was actually a real-world thing I hesitantly Googled it and hoped for the best.

      Thankfully it is not. Yet.

  7. Decades old by PPH · · Score: 3

    So, no patents? Simple solution: contract with some other drug makers to duplicate it.

    As much of the money to buy these drugs comes out of the public's pocket, perhaps it would be a better idea to invest public funds in the supply chain up front. Set up a gov't funded manufacturing unit to produce orphaned drugs and steer around patents on things like EpiPens.

    --
    Have gnu, will travel.
    1. Re:Decades old by avandesande · · Score: 5, Interesting

      a better solution would be to let the US citizens freely engage in commerce and give them a choice to purchase drugs from overseas

      --
      love is just extroverted narcissism
    2. Re:Decades old by Anonymous Coward · · Score: 0

      Yeah, where 'antibiotics' are made out of antifreeze. We don't need that voodoo over here.

    3. Re:Decades old by FormOfActionBanana · · Score: 1

      Can't they?

      --
      Take off every 'sig' !!
    4. Re:Decades old by souter · · Score: 1

      It's not that quite simple.
      The reason drugs cost less outside of US is classic market segmentation.
      Say you can sell Y of drug X at $1000 in the US. NB The price point at which a drug will be bought is determined either by government fiat (most of the world), or by *national* health insurers (US) - it either sells to the full cohort or none*
      Then consider Unnamed-But-Poor country with a large population. No way they can afford $1000, so zero sales. Then they negotiate a price of $100. Now the manufacturer gets new sales of (other country cohort)*$100, plus a nice glow of being humanitarian.
      If you abolish segmentation i.e. drugs freely traded internationally, and we assume the manufacturer needs to recoup the same amount, then the US price becomes (US cohorts*$1000- (Other country cohort)*$100)/US cohorts. Which will be less than the current US price, but a lot more than the current non-US price.
      And the number of people availing of said drug world wide will fall dramatically.

      The interesting thing is why market forces, if we include non-legal ones, aren't capitalising on this. For now I'm presuming it's conservatism on the part of the consumer i.e. most people who *may* need expensive drugs have a complex medical condition. They consider it a better option to candidly engage with doctors who will carefully monitor their symptoms along with provide a quality assured supply of drugs, and vary these drugs appropriately, It's not like the patient is going to think "well, the doc put me on drug X, I'll get that a lot cheaper from Sneaky Pete at the street corner but keep attending to the doc without telling him".

    5. Re:Decades old by Anonymous Coward · · Score: 0

      You think 9/11 was bad, wait til we get batches of insulin laced with cyanide sprinkled around the country. There's a reason commonly used drugs are tested to hell and back by our FDA.

      You should also read up on Thalidomide.

    6. Re:Decades old by avandesande · · Score: 1

      You think the insulin that you buy in France for 1/4 that it costs in USA is made in USA? I'm sorry but your argument holds zero water.... at the least they should open the market for drugs that are out of patent.

      --
      love is just extroverted narcissism
    7. Re:Decades old by angel'o'sphere · · Score: 1

      No they can't.
      Drugs are not sold and purchased.
      They are prescribed.

      Without a prescription you can only buy the most simplest drugs. And that is true for overseas, too.

      Overseas "pharmacies" tried to sell via internet to germany ... guess what, customs is confiscating everything coming from such a "pharmacy".

      --
      Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
    8. Re: Decades old by Anonymous Coward · · Score: 0

      Well, we were talking about the American market's access to drugs. Not Germany's

      I thought it was easy for Americans to buy drugs from Mexico. (Not sure if that meets your definition of overseas)

  8. Another one of these by Kohath · · Score: 4, Insightful

    There are no patents on this. It's an old medication. What keeps other companies from selling exactly the same substance? Answer: Government regulation.

    Government needs to do more to help more companies make these medicines at reasonable prices.

    1. Re:Another one of these by Anonymous Coward · · Score: 3, Informative

      What keeps other companies from selling exactly the same substance? Nothing; Actavis Labs FL INC, Impax Labs INC, Mylan, Novel Labs INC, Sun Pharm Industries, and Zydus Pharms USA INC are all manufacturers of generic nitrofurantoin.

    2. Re:Another one of these by Anonymous Coward · · Score: 0


      What keeps other companies from selling exactly the same substance? Answer: Government regulation.

      That's likely true to some extent. The other answer is simply that it's likely a small market, entry into a market is expensive, and manufacturers have better things to do. High cost to entry is only partly due to regulation, and obviously you need SOME regulation, otherwise 'ol Cleetus from down the road is going to start selling talcum powder and call it "antibiotics".

      You seem to think the _only_ problem is simply government regulation, and that's unlikely to be true. Free markets don't always produce the optimum solution.

    3. Re: Another one of these by Anonymous Coward · · Score: 0

      If what you are saying is true, isn't everyone's bickering on this Slashdot story just a giant waste? :-/

    4. Re:Another one of these by Kohath · · Score: 1

      Free markets don't always produce the optimum solution.

      400% price increases are far from optimum. There's never going to be a free market on antibiotics. The government mission should be a robust, safe supply at a reasonable price. They seem to care about safety only. So additionally focusing on enabling robust supplies at reasonable prices (without compromising safety) would be an improvement.

    5. Re:Another one of these by Green+Mountain+Bot · · Score: 1

      What government regulation? If there's no patent, I would think other companies are free to make it if they so choose. I'm no expert, though, so if you can point to the regulation in question, I'd appreciate it.

    6. Re:Another one of these by Anonymous Coward · · Score: 0

      What keeps other companies from selling exactly the same substance? Answer: Government regulation.

      And in some other countries government regulation ensures this product would have been replaced with an alternative generic product to stay within the insurance coverage.
       

    7. Re:Another one of these by Anonymous Coward · · Score: 0

      The government has a moral requirement to ensure that companies fulfill their moral requirement for making money. North Korea is the perfect example. Kill and imprison tons of people, since it is Kim Jung-Un's moral requirement to eat well. After all, he's in the business to rule.

    8. Re:Another one of these by ceoyoyo · · Score: 4, Informative

      Other companies do sell exactly the same substance. This appears to be an example of a company taking advantage of either (a) consumer gullibility where brand names are concerned or (b) corrupt physicians.

      Although from the article it sounds like the competition might be cranking the price up as well, so perhaps it's (c) collusion.

      In the rest of the world, apparently actual government regulation successfully keeps the price between $0.10 and $10.

    9. Re:Another one of these by suutar · · Score: 3, Insightful

      the requirement to get FDA approval to manufacture, which is at least time consuming and possibly expensive.

    10. Re:Another one of these by ItsJustAPseudonym · · Score: 3

      In some previous instances of generic drugs, the situation has been that only one company is granted the license (or permit?) by the FDA to market the drug to treat a certain condition. Basically, anyone can produce drug 'X', but only one company can produce 'drug X permitted to treat ailment Y'. This nearly creates a monopoly for the treatment of ailment Y, because no other versions of X are permitted to treat Y, and there are either no other generic drugs other than X that could treat Y.

      I suspect that is what's happening here, and that is why this guy can jack the price of his generic drug.

    11. Re:Another one of these by ItsJustAPseudonym · · Score: 1

      Could be that no other manufacturer of the drug is permitted to market it for the condition in question. See a post I wrote here. Not sure if this is what's happening here, but I suspect so.

    12. Re:Another one of these by eth1 · · Score: 1

      In which case any reasonable doctor will prescribe the drug to treat whatever condition it's cheaply available for.

      My doctor has done this for me, since I have a high deductible on my insurance. For condition X (which I had) it was only available at ~$50/pill, but he prescribed it for condition Y, which was $1/pill.

    13. Re:Another one of these by Anonymous Coward · · Score: 0

      It is, and what if you invest all that money getting to that stage and get rejected, or beaten by another company to market? The raw materials for drugs are super cheap, but the legal, regulatory, and scientific personnel...not to mention the equipment, cost a fortune.

    14. Re: Another one of these by Anonymous Coward · · Score: 0

      What you wanna bet that the reason they can get away with this is some sort of government regulation that stipulates the non generic is used in preference to alternatives?

      In any other market, raising the price of a commodity 400% overnight would be economic suicide. There has to be some kind of scam here.

    15. Re:Another one of these by Anonymous Coward · · Score: 0

      It can also be due to insurance company collusion in the form of putting only that drug on the formulary. Free market won't correct that.

  9. Let’s allow the free market to work by Applehu+Akbar · · Score: 5, Informative

    Actually it was I, not Ms Mash, who posted this story.

    I’m always amoused when these low-budget shkrelis claim to be defenders of the free market when they make insane price moves. If we actually did have a free market in pharma, we would be able to fill our prescriptions for this compound at the world market price of $18, as per the closing line that was oddly edited out of my post.

    The only way price increases like this can be made to stick is to have the FDA on your side, preventing us from being able to compete. Time to rip out the FDA’s ability to keep competition out of the market. Let it manage testing, not price manipulation.

    1. Re:Let’s allow the free market to work by Anonymous Coward · · Score: 0

      If we had proper regulations by the government, there would be a competitor already making this drug. This is not free market.

    2. Re:Let’s allow the free market to work by Anonymous Coward · · Score: 0

      pussy

    3. Re:Let’s allow the free market to work by Applehu+Akbar · · Score: 1

      I'm often amoused as well. I find it amousing when the spell check doesn't work.

      Yes, that’s what happens when you post mobile. That and the mangling of typographically correct quote marks.

    4. Re:Let’s allow the free market to work by ooloorie · · Score: 1

      You can already buy the drug for about $15 per pack.

      The problem is that under government regulations, Medicare, Medicaid, and insurance companies have no incentive to provide you with the low cost version of the drug.

    5. Re:Let’s allow the free market to work by bloodhawk · · Score: 1

      This does seem more a case of a massively overblown and exaggerated story combined with an Arsehole of a CEO. The reality is they are not the only drug provider for this, they are also still the cheapest and the FDA has forced additional costs on all of them. The CEO is a clueless PR disaster for the company though and needs to go. He should have simply stated "we are still cheaper than the competition but unfortunately due to financial pressures and new FDA requirements we need to raise our prices, unlike our competitors we have keep our prices lower over the past few years while they have continually hiked theirs, it is regrettable that we need to do this but we are a company and have fiduciary obligations to our shareholders"

    6. Re:Let’s allow the free market to work by ArylAkamov · · Score: 1

      We could do that. Or we could continue to repeat history and add more regulation and government meddling, promises of free stuff and debase the currency.
      Isn't this fun to watch?

    7. Re:Let’s allow the free market to work by HiThere · · Score: 1

      That's true. In most industries companies refuse(used to refuse?) to purchase products that are "sole source". This is true to the extent that occasionally a company will(would?) pay to set up a competitor so that they can sell their product.

      If drug manufacturing were done properly, sole source would be prohibited. There would always need to be at least two vendors for any drug to be sold. And they would be tightly monitored to prevent collusion on pricing.

      --

      I think we've pushed this "anyone can grow up to be president" thing too far.
    8. Re:Let’s allow the free market to work by Anonymous Coward · · Score: 0

      these guys ARE THE FUCKING Competitor. The non generic drug maker charges even more. The market for this form of the drug is tiny so it will always be expensive.

  10. Yep by American+AC+in+Paris · · Score: 5, Insightful

    This is exactly how for-profit industries work.

    Maybe instead of trying to find ways to make for-profit healthcare marginally less of a roiling tire fire for Americans, we should instead nationalize healthcare, like the rest of the civilized world.

    :|

    --

    Obliteracy: Words with explosions

    1. Re:Yep by Anonymous Coward · · Score: 0

      Well, the problem is that most Americans prefer to elect and reelect politicians that serve the for-profit industries. When they seriously want nationalized healthcare, they will vote for it.

    2. Re:Yep by Anonymous Coward · · Score: 0

      The Right called: What the fuck is this guy with a foreign name saying what is moral in the USA?

      The Left called: profit is evil, and we also know all bad things have racism lurking somewhere, so let's de-platform him NOW!

      The Kooks called: this is a false flag operation, someone got an insignificant business to do something ridiculous and blame it on greedy capitalist values

      The Californians called: it wasn't organic so I wasnt buying it anyway, but illegals who depend on this drug are getting deported and something must be done to stop that injusice

      The Russians and Chinese called: muahahaha...

    3. Re:Yep by FormOfActionBanana · · Score: 1

      Who is going to develop new drugs, once you nationalize american pharmaceutical companies?

      --
      Take off every 'sig' !!
    4. Re:Yep by necro81 · · Score: 1

      This is exactly how for-profit industries work.

      I'm surprised that we've gotten this far into this discussion without someone bringing up this gem from Wall Street

  11. capitalism is a religion by Anonymous Coward · · Score: 0

    the god of money rules all, puny humans are irrelevant

  12. Fuck him by Anonymous Coward · · Score: 1

    And not because he's a greedy little cunt, but because shit like this is an assault on the English language. The words you're looking for are not "moral imperative" you fucking dim-witted imbecile.

  13. I think he needs to read the dictionary by haibane · · Score: 3, Insightful

    moral (môrl, mr-) adj. Of or concerned with the judgment of the goodness or badness of human action and character: moral scrutiny; a moral quandary. adj. Teaching or exhibiting goodness or correctness of character and behavior: a moral lesson. adj. Conforming to standards of what is right or just in behavior; virtuous: a moral life.

    1. Re:I think he needs to read the dictionary by alvinrod · · Score: 2

      Not everyone agrees on what constitutes moral behavior. There are some people who consider me immoral because I don't pray to their sky fairy, and even a few who would believe that it's perfectly moral for them to kill me for speaking ill of their sky fairy. If you looked at the entire world's population, the majority probably consider the behavior that I just described as moral.

      I don't consider "making money" to be a moral requirement personally, but if someone wants to use that as the basis for their belief system that's their own business. If you're some kind of crazed utilitarian, "making money" could be the most moral thing on the planet.

  14. Moral Requirement to Remove Market Constraints by Carcass666 · · Score: 1

    Ok... decades old drug, these guys are taking advantage of a government-mandated monopoly (patent) that turned into a natural monopoly - US patent exclusivity is seven years. FDA needs to create a process to automatically institute a fast-track for generic competition in cases like this where a drug's price is increased by over a defined threshold (100%?). The resources required to staff such fast tracking should be recoverable in reduced cost to Medicare/Medicaid/etc. Let the Pharmacy Benefit Managers pitch in, for that matter... they are supposed to be all about managing the price of drugs. This is a simple way to do it.

    1. Re:Moral Requirement to Remove Market Constraints by jeff4747 · · Score: 1

      Or you could just buy the other manufacturer's pills that are already on the market and cost $15 to $20.

      This happens because insurance companies have a Medical Loss ratio limit. They have to spend 80%-85% of their premiums on medical treatment (amount varies by type of plan).

      So, you're sitting in the C-suite at an insurance company, and you'd really like to buy that 8th mansion. So you'd just need a bigger bonus, but that comes out of the 15%-20% of that medical loss ratio. So now what do you do?

      Buy the $2000 pills instead of the $15 pills. It's medical treatment. And now you have a bigger 15%-20% to get that sweet, sweet bonus money.

  15. Monsieur Guillotine would like a word with you by Rick+Schumann · · Score: 2

    That's what we should be doing with assholes like these that pull shit like this.

  16. We're we told drug prices would be lowered? by smooth+wombat · · Score: 5, Funny

    I seem to recall some orange-faced liberal from New York City telling us he'd force drug companies to lower the price of their drugs. You know, use the power of big government to dictate to private companies how they should run things.

    He wasn't lying when he said that, was he?

    --
    We will bankrupt ourselves in the vain search for absolute security. -- Dwight D. Eisenhower
    1. Re:We're we told drug prices would be lowered? by Anonymous Coward · · Score: 1

      Actavis Labs FL INC, Impax Labs INC, Mylan, Novel Labs INC, Sun Pharm Industries, and Zydus Pharms USA INC are all manufacturers of generic nitrofurantoin.

      Those are cheaper. Buy them instead.

    2. Re: We're we told drug prices would be lowered? by Anonymous Coward · · Score: 0

      Was his mouth moving when he said it?

      Then, yes, he was lying.

    3. Re:We're we told drug prices would be lowered? by cascadingstylesheet · · Score: 1

      I seem to recall some orange-faced liberal from New York City telling us he'd force drug companies to lower the price of their drugs. You know, use the power of big government to dictate to private companies how they should run things.

      He wasn't lying when he said that, was he?

      Hmm; he doesn't look orange to me ... sure you don't have some latent hidden subcutaneous dog whistling racism there, buddy? ;)

    4. Re:We're we told drug prices would be lowered? by cascadingstylesheet · · Score: 1

      I seem to recall some orange-faced liberal from New York City telling us he'd force drug companies to lower the price of their drugs. You know, use the power of big government to dictate to private companies how they should run things.

      He wasn't lying when he said that, was he?

      This "New York" liberal? She doesn't look orange to me either?

      And he's not NY in any way, is he?

  17. Typical Big Pharma corruption by UnknownSoldier · · Score: 1

    Big Pharma is extremely corrupt. This is just the tip of the iceberg that will be exposed later this year / next year.

    Placing profit above people's life & health is immoral. How much profit is "enough" ?

    --
    Main St. built America
    Wall St. robbed it.

    1. Re:Typical Big Pharma corruption by SCVonSteroids · · Score: 1

      How much profit is "enough" ?

      None. You don't seem to understand these people.

      --
      I tend to rant.
  18. Free Market by Anonymous Coward · · Score: 0

    The problem isn't capitalism, it's a distinct lack of capitalism. If every pharmaceutical manufacturer on the planet was allowed to make and market this drug, the price would drop dramatically. The problem is patents on essential medicine.

    1. Re:Free Market by CAOgdin · · Score: 1

      Your ignorance is showing.

      There are dozens of other companies that "make and market this drug". Look it up before embartassing yourself again.

    2. Re:Free Market by Anonymous Coward · · Score: 0

      Question: What does it mean if your are "embartassing" yourself again? Does this have something to do with rapid transit ramming up your ass?

  19. The industry is sociopathic. by Anonymous Coward · · Score: 0

    The industry is sociopathic.

  20. At what point does assassination become moral? by phayes · · Score: 1

    Some argue that it is already the case for people who feed off of the misery of others and through the profiteering acts of assholes like this guy their numbers are ever increasing. It won't even need to ba a majority before the backlash comes because at some point a significant is going want to hold these assholes accountable whatever the majority thinks.

    --
    Democracy is a sheep and two wolves deciding what to have for lunch. Freedom is a well armed sheep contesting the issue
  21. can't blame him by religionofpeas · · Score: 0, Flamebait

    Somebody else created this possibility, can't blame the CEO for taking advantage of the situation.

    1. Re:can't blame him by jenningsthecat · · Score: 2

      Somebody else created this possibility, can't blame the CEO for taking advantage of the situation.

      Somebody else created these guns and liquor stores, can't blame the robbers for taking advantage of the situation.

      --
      'The Economy' is a giant Ponzi scheme whose most pitiable suckers are the youngest among us and the yet-unborn.
    2. Re:can't blame him by Anonymous Coward · · Score: 0

      You're the kind of person who needs to be killed with extreme prejudice and you know that, right?

  22. Common myth by Sarten-X · · Score: 3, Informative

    It is a recurring myth that corporations are somehow absolutely required by law to seek profit. It seems now is a good time to mention that this is absolutely not true. Corporations are only required to do what their charter says, which usually includes some notes about profit, but also more importantly defines the role the company will take (like improving healthcare).

    This CEO is avoiding the legal implication by claiming it's a "moral" requirement. Of course, that means there's no written guideline to which we can refer that will identify this as blatant greed, so it becomes a matter of personal judgement. I hope that's remembered in the future whenever the CEO tries to claim he's always acting in the public interest.

    --
    You do not have a moral or legal right to do absolutely anything you want.
    1. Re:Common myth by Anonymous Coward · · Score: 0

      Not entirely true. Any publicly traded company will open itself up to shareholder lawsuits if they don't maximize profit. Not all corporations are publicly traded so that is not always true and if is not a given the shareholders would win.

    2. Re:Common myth by koick · · Score: 1

      More reading supporting your argument can be found here:
      nytimes.com

    3. Re:Common myth by Sarten-X · · Score: 1

      A lawsuit on what grounds, exactly?

      See, that's precisely the myth to which I refer. Simply being a publicly-traded corporation, even one formed for-profit, is not actually a legal obligation to maximize profits. The executives have a lot of freedom in their decisions, as long as they are compliant with the actual legal documents. The most important document is still the corporate charter, and shareholder agreements or contracts may stipulate certain performance goals, but without an explicit agreement dictating the executives' behavior, the shareholders have no basis for their lawsuit.

      In this case, it's also important to note that even "shareholder value" and "shareholder profit" are different things. By raising prices, this CEO may have increased profit, but he has also done irreparable harm to Nostrum Laboratories' competitive posture, actually decreasing the company's overall value as a for-profit venture. If Nostrum's charter requires any value maximization or long-term goals, this PR debacle could itself provide grounds for a lawsuit.

      --
      You do not have a moral or legal right to do absolutely anything you want.
    4. Re:Common myth by necro81 · · Score: 1

      It is a recurring myth that corporations are somehow absolutely required by law to seek profit....This CEO is avoiding the legal implication by claiming it's a "moral" requirement.

      Greed...is good. Greed is right.

    5. Re:Common myth by Thelasko · · Score: 1

      It is a recurring myth that corporations are somehow absolutely required by law to seek profit. It seems now is a good time to mention that this is absolutely not true.

      That's not what they told me in finance class.

      Back in the 2000s, when the tech sector was stagnant and finance was screaming hot, I took a few business classes. They drill it into you. "The duty of the CEO is to create value for shareholders."

      --
      One of our competitors trademarked the term "hypothesis". From now on, we will call them "boneheaded ideas".
    6. Re:Common myth by HiThere · · Score: 1

      Are you surprised to be told that your professors may have lied to you to benefit entrenched power?

      --

      I think we've pushed this "anyone can grow up to be president" thing too far.
    7. Re:Common myth by Cederic · · Score: 1

      Maximising profits and creating value are very different things.

      A very simple example for you : Amazon is an incredibly valuable business. It grew by intentionally not making a profit.

    8. Re:Common myth by Thelasko · · Score: 1

      Are you surprised to be told that your professors may have lied to you to benefit entrenched power?

      More likely they were reciting what was written in the textbook.

      --
      One of our competitors trademarked the term "hypothesis". From now on, we will call them "boneheaded ideas".
    9. Re:Common myth by HiThere · · Score: 1

      That's one, among many, reasons that they would lie. I suppose I should really say "spread falsehood", as they may not be knowingly repeating incorrect information, but they are supposed to be experts in the field, so I think it fair to hold them culpable.

      --

      I think we've pushed this "anyone can grow up to be president" thing too far.
  23. To be fair... by Anonymous Coward · · Score: 1

    Usually the point of operating a business in a capitalist nation is to make money.

    And in a communist nation, as per Karl Marx, the point is for the common people to steal money from the rich and successful people, sometimes through the use of violent and bloody means. When all the people with an IQ above 95 are dead, all of the books have been burned, and society has returned to a scientific and philosophical dark age, you will have a communist utopia. This is all, shockingly, in the Communist Manifesto.

    I hope they tax the shit out of this guy and then spend his tax dollars on the poors. That'll show him.

  24. He's not right. by Anonymous Coward · · Score: 1

    To a certain extent. The idea, much like "the customer is always right" is enshrined, but not correct. Also if he wants to play the moral game, then it's the moral right of his competitors to undercut him, kind of like Epipen.

  25. Sounds like they really are underfunded by Anonymous Coward · · Score: 0

    Just read the reviews of their employees, mentions out-of-date systems, low pay, or no pay, unrealistic deadlines, high turnover, etc. Not a good way to run a company in the long run. If their competition cannot price their pharmaceuticals any lower, why should this company do the same?

    https://www.glassdoor.com/Revi...

  26. He's Unfortunately Right by DatbeDank · · Score: 1

    The CEO has a fiduciary obligation by law to provide the most value to his shareholders. If the market will pay a 400% increase, he's doing his job.

    Except when it comes to the demand curve in health, the fcuker goes vertical.

    Is this right? No, and it's why I believe we're going to see big pharma get a bloody nose one of these days especially in regards to antibiotics which are quickly becoming useless in the face of common diseases.

    1. Re:He's Unfortunately Right by Anonymous Coward · · Score: 0

      The CEO is right period. There's no other way to put it. Profit is the most important aspect regardless of product. Exploitation (in this case) is legal, and should be used as a tool to squeeze as much of it (profit) as possible. People die, so what? I supported the epipen hike as well (though not the timing). People will always need some sort of medical care, and if they can't pay it it's the same as if they are dead anyway. If you have a product that is the ONLY product then people will pay whatever if they want to live. I see no issue with exploiting this.

    2. Re:He's Unfortunately Right by Anonymous Coward · · Score: 0

      No, he is not correct. And neither are you.

    3. Re:He's Unfortunately Right by angel'o'sphere · · Score: 1

      I always snicker when I remember that dozens of times repeated line in "the hitchhikers guide to the galaxy": those will be the first to be lined up along a wall when the revolution starts.

      --
      Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
    4. Re:He's Unfortunately Right by Anonymous Coward · · Score: 0

      fiduciary obligation =/= moral requirement.
      If a man enters your casino and you know he's spending his kids' college funds in the hopes of making more, your fiduciary obligation is to let him lose his shirt. Your moral requirement is to refuse him service.

    5. Re:He's Unfortunately Right by Cederic · · Score: 1

      Profit is the most important aspect

      Is it fuck. Cash flow matters much much more, for a start.

      I see no issue with exploiting this.

      As we've seen already in my reply, your judgement is terrible and should not be trusted.

  27. and get free doctors + meds in prison by Joe_Dragon · · Score: 1

    and get free doctors + meds in prison

  28. Layling low is key to getting away with it by RonVNX · · Score: 2

    You know, the government knew all about Shkrelli's crimes before he raised the price of that drug. And then he got known for being an asshole that raised a generic drug's price in this same way, forcing the government to do something about him. Congratulations, Nirmal Mulye, you've just made yourself very interesting to the FBI.

  29. technically he's right by Anonymous Coward · · Score: 0

    that's the problem inherent to for-profit healthcare, the primary drive of all for-profit companies is to make money and all other considerations are secondary

    now yeah individual doctors and small businesses may make decisions and factor in what most people call morality, like my grandmother when dying of cancer, her oncologist waived all his fees once her insurance ran out

    but big companies, they don't work that way, all they care about, all they are capable of caring about is the bottom line

    this is why the USA pays more per capita for healthcare than anywhere else but in actual health metrics lags behind many other countries that pay less

  30. Pharma execs get the bullet first. by bistromath007 · · Score: 1

    When are we going to start? It's been too long already.

  31. I hope that he gets ill by Anonymous Coward · · Score: 0

    and that there is no drug or treatment to keep him alive and that he dies a slow and painful death.

  32. "moral hazard" of capitalmalism by Thud457 · · Score: 1
    --

    the preceding comment is my own and in no way reflects the opinion of the Joint Chiefs of Staff

    1. Re:"moral hazard" of capitalmalism by Anonymous Coward · · Score: 0

      You realize that's Trump on the billboard, don't you sheepboy? Drop your wool and walk slowly backwards into bondage, that's a good bitch! Daddy Putin like!

      Oh shit drop the lube, it's MUELLER! RUN FOR YOUR PUNK ASS TRUMPY LIFE! Oh shit he got Junior! Noooo!

      Mueller brand fine Ropes -TM "Formulated strong enough to handle the most obese traitors, no problem at all."

  33. Moral requirement not to support patents by FeelGood314 · · Score: 4, Interesting

    Patents have never been to spur innovation. Their purpose is to preserve knowledge. We as society decided we would trade a limited monopoly on an invention for the complete description of that invention. The invention was supposed to be innovative such that any other person knowledgeable in the craft would say "hey, that's a really good idea, I can use that". I should want to read patents because they would teach me, they should be a resource when I want to solve a problem. Journalists should publish them in trade journals because of the innovation in them.

    Inventors will invent because we want to solve problems, because there is profit in providing solutions to our customers. We don't need patents to do that. (and we don't need drug patents either - our way of developing drugs is wasteful and broken)

    Today when someone actually comes up with something innovative they often don't patent it. Manufacturing methods, if they are truly useful are rarely patented. Small companies can't defend a patent and any inventor who is altruistic will publish their idea almost anywhere other than the patent office. Not only are patents now unreadable (I can't make any sense of any of the patents my name is on) but we are told not to read them because it might increase our companies liability.

    When companies spend more money on patent lawyers than on new product development (Apple, google, Oracle) or get screwed when they don't (RIM/Black Berry) we have a problem.

    It is now your moral duty to shun East Texas and actively fight patent laws.

    1. Re:Moral requirement not to support patents by CAOgdin · · Score: 1

      Your assessment of the reason for Patents is misguided and misinformed. Patents exist to reward inventors with a limited-time frame during which they can maximize their revenue from the product of their works, by providing an alternative stream of income from licensing of the patent to others. And, it still functions that way.

      Only vain people seeking self-satisfaction apply for a patent they don't intend to turn into income.

      And, that arcane language is a tool used by attorneys to make the application sufficiently unique that it doesn't tread on other patents that already exist, which leads to rejection of the application.

    2. Re:Moral requirement not to support patents by Applehu+Akbar · · Score: 1

      No patent is even involved in this case. It’s a generic.

    3. Re:Moral requirement not to support patents by Anonymous Coward · · Score: 0

      Your assessment of the reason for Patents is misguided and misinformed. Patents exist to reward inventors with a limited-time frame during which they can maximize their revenue from the product of their works, by providing an alternative stream of income from licensing of the patent to others. And, it still functions that way.

      Your assessment of the reason for Patents is misguided and misinformed.

      Economic studies show that innovation is just as strong is industries where patents are rare as those industries where they are common. Reward for innovation does not require government involvement beyond making markets practical.

      Further, the net amount spent on legal expenses associated with patents exceeds the value of the patents in most industries.

      In practice, the major economic function of patents - as measured by economic studies - is not to create wealth, but instead to create concentration of wealth. It's another form of rent-seeking.

      See The Captured Economy (Lindsey/Teles).

      Rent-seeking mechanisms such as patents work against the idea that everybody benefits when the economy grows, by getting a larger slice of pie. Patents are one of the rent-seeking mechanism that ensure that the vast majority of the growth goes to the super rich, leaving just crumbs for everybody else. Not all that different from the nobles stealing everything in sight in the old days.

      Equality of outcomes is neither attainable nor desirable - but it also isn't in the interests of society to tolerate rent-seeking and excessive concentration of wealth.

      There are also extremely serious problems with both governmental ethics and legal ethics associated with patents. This too has strong negative effects on the economy and on society.

  34. Let me guess by linear+a · · Score: 0

    Republican?

  35. Drug Patent by sycodon · · Score: 2

    Whatever perversion of the patent system that still has this drug covered decades later, it needs to be changed.

    --
    When Fascism comes to America, it will call itself Anti-Fascism, and tell you to give up your guns.
    1. Re:Drug Patent by Anonymous Coward · · Score: 0

      The patent has lapsed. Instead, blame the FDA for moving at such a glacial pace in approving manufacturers that it grants monopolies to companies like this. A good follow-up question is whether this is a bug or feature of the FDA.

    2. Re:Drug Patent by jpschaaf · · Score: 1

      ...we just need some budding entrepreneurs to get into the generic drugs market. I'm actually surprised that walgreens and other pharmacies haven't gotten into that business.

    3. Re:Drug Patent by Anonymous Coward · · Score: 0

      Of course it doesn't help when Trump's administration cuts NIH funding by $6 billion dollars at a time when it should be increasing. Then there is a cut to the FDA of $1 billion again at a time when they should be increasing.

      As the healthcare field continues to grow it is only logical that the regulatory body and basic research organizations should also continue to grow. With entirely new fields such as gene therapies the FDA would need people with new skill sets to properly evaluate these new treatments.

      Just keep in mind that a small government sounds great on paper and an overly large government is at least equally terrible. Quite frankly there are things a government will do better because it isn't driven by profit. Then of course there are things corporations will do better due to efficiencies driven by profit motive. Once we understand that neither are evil or good we can move past capitalism vs socialism but start talking about execution which is much more productive. The same goes with global warming. Most reasonable people understand we are at the very list contributing to it. Get past arguing about it happening and start arguing how we're going to mitigate, that is a much more productive discussion.

  36. Re:Same Thing by Anonymous Coward · · Score: 5, Insightful

    Europeans and Canadians aren't starving.

    In fact, they are far better off than the average american.

    Americans are just too uneducated and unenlightened to see the benefits of proper socialised medicine.

  37. The world scale... by MikeRT · · Score: 1

    On a world scale, the US democratic party is on the right of the center of the political spectrum.

    The world scale also includes the Communist Parties of Cambodia, North Korea and Cuba. As well as whatever name Maduro's vampire party in Venezuela calls itself. So you might as well be saying "on a global scale, which includes all of the dysfunctional shitholes with no rule of law, confiscatory policies and a penchant for firing AA batteries at political prisoners, the DNC is actually pretty damn good."

    So in other words, by expanding the Overton Window until it looks likes an event horizon bringing in the entire plane of possible human political choices, you've basically made a tautilogical defense of the DNC.

    1. Re:The world scale... by Anonymous Coward · · Score: 0

      Not the OP, but compared to countries at a similar level of development and prosperity ("1st world") and better, the democratic party is on the right of center.

    2. Re:The world scale... by Anonymous Coward · · Score: 0

      He didn't move any window anywhere, those parties you mentioned are extreme left.

    3. Re:The world scale... by fred6666 · · Score: 1

      Even if you include only the first world (which doesn't include any communist state), the US dems are still on the right side of the political spectrum.

      But regarding the world scale, it also include many right-wing fundamentalist religious freak countries (Saudi Arabia, Vatican being the most extreme examples) as well as a few libertarian "paradises" (countries where there is little to no government intervention such as Somalia).

  38. I wouldn't say it's a moral requirement by Anonymous Coward · · Score: 0

    I wouldn't say it's a moral requirement, and I'm a libertarian. However, it isn't immoral either.

    By raising the price the temporary side effect is that users will need to rebudget, seek out extra money, or discontinue use.

    The long term side effect is now the market sees a massive profit incentive to create more of the drug. This should result in lower prices once competitors enter the market. Quite possibly much lower than they were before the price hike.

  39. Greed is, now, better than good. by bill.pev · · Score: 1

    It's heartwarming to consider how far we've come since Ivan Boesky had to assert that "You can be greedy and still feel good about yourself." Thank god! At last, it is moral imperative. The question now is.. Can you NOT be greedy and still feel good about yourself.?

    It's a tougher question than people might think.

  40. Re:Same Thing by Anonymous Coward · · Score: 0, Insightful

    People in Canada and Sweden get government-facilitated health care but under different systems. Corporations get welfare in the US and the public get potable drinking water and interstate highways under different systems.

    None of that has anything to do with Communism though, nor are they pure socialism either. Only retarded Republican ideologues can't grasp the social aspect of helping society as a whole, fight it with full-on uneducated fears.

  41. Corporations. by Fly+Swatter · · Score: 2

    This is their goal, to siphon all money they can out of the working class and into the hands of the already rich without consequence for any harm that happens along the way. That is how they stay rich. And like morons we allowed corporations to become these unstoppable money siphoning machines. Good luck fixing this in a peaceful way this since the corporations now own your governments and make their own laws.

    1. Re:Corporations. by DNS-and-BIND · · Score: 0

      The working class? You mean the deplorables? Since when do we care about them? I thought the consensus among civilized people was they can go die in a fire. Since when did we suddenly develop sympathy for these vile racists?

      --
      Shutting down free speech with violence isn't fighting fascism. It IS fascism!
    2. Re:Corporations. by Anonymous Coward · · Score: 0

      Welcome to the 17th century, Vereenigde Oostindische Compagnie already owns your government.

    3. Re:Corporations. by Anonymous Coward · · Score: 0

      A nugget of what you say has merit, but... that lazy us vs them argument. Those damn pesky rich folk, right? Totally unlike us at all.

      And as we know, the French Revolution totally fixed France's wealth distribution then and forever.

  42. Hospitals form nonprofit to manufacture generics by Anonymous Coward · · Score: 0

    Interesting that the VA some healthcare systems are banding together to combat this abuse by forming a nonprofit company to manufacture some generic drugs. They hope to guarantee a steady supply at reasonable prices.

    https://intermountainhealthcare.org/news/2018/01/leading-us-health-systems-announce-plans-to-develop-a-not-for-profit-generic-drug-company/

    https://www.biospace.com/article/unique-5-health-systems-to-launch-new-generic-drug-company/

  43. I don't get it... by Anonymous Coward · · Score: 0

    Why not charge 1 million per pill. Why not simply label it, "All your money". Isn't that better? Why leave all that money on the table?

  44. Wow.... such a flawed conclusion! by King_TJ · · Score: 2

    In reality, for-profit insurance companies have a vested interest in drug prices being kept in check, because it gets harder to sell people policies when they're stuck increasing their rates sufficiently to cover these inflated medication prices!

    One of the negatives of single-payer healthcare is that it would be funded from taxpayer dollars, meaning as per usual -- central government lacks motivation to keep the costs down. Since they don't have to show a profit on THEIR books, they simply find other avenues to extract the required revenue to pay whatever they're asked to pay.

    The real problem here is that this Nirmal Mulye character fails to understand that the pharmaceutical industry isn't truly a "free market" business. It already receives special favors by way of the FDA protecting exclusive rights to a new drug for years after it's brought to market, and rules preventing overseas competitors from selling their offerings here as cheaper alternatives. They're very much a protected monopoly on a given drug, holding customers (whether they be end users paying out of pocket, or insurers paying on their customer's behalf) hostage to either pay any price they dream up, or to simply do without the cure.

    1. Re:Wow.... such a flawed conclusion! by Anonymous Coward · · Score: 0

      In reality, for-profit insurance companies have a vested interest in drug prices being kept in check, because it gets harder to sell people policies when they're stuck increasing their rates sufficiently to cover these inflated medication prices!

      WRONG, BUCKO! You've heard of this thing called the ACA? It means you MUST buy insurance. You don't have a choice, you MUST give them money. So, no, they don't have any incentive to keep their prices low because the government will force you to give them money regardless.

      And yet this will all no doubt be blamed on capitalism instead of on corruption, politicians, and cronyism.

    2. Re:Wow.... such a flawed conclusion! by bkmoore · · Score: 1

      ....One of the negatives of single-payer healthcare is that it would be funded from taxpayer dollars, meaning as per usual -- central government lacks motivation to keep the costs down....

      In many cases the government is forbidden by law to keep costs down. It's not for a lack of motivation or competence on the part of civil servants. It's that elected politicians who make laws and policies do not work for the people, nor do they work for the government. They work for their campaign donors and those donors have agendas. It's not a coincidence that the private health insurance industry and the medical product industries are two of the biggest campaign contributors.

      On a side note, our very partisan Supreme Court ruled that "money is speech" and "corporations are people". If we're willing to accept that unlimited dark money can buy our elections, what's to prevent a hostile foreign country from buying our election???

  45. Revolution by burningcpu · · Score: 0

    This fucker first up against the wall.

  46. Locked in an airtight room by jenningsthecat · · Score: 3, Insightful

    I'd love to have that guy locked in an airtight room. "I can sell you some air - it only costs $5000 per litre, cash up front." "But, but... I don't have that much cash on me!" "Well, I'm sorry sir, but it's a moral imperative for me to make as much money as I possibly can. Ten thousand people who suffered badly because of your drug-price gouging want to do a group buy of all these air tanks. Unless you can beat what they're offering, I'll have to sell it all to them - it's just the right thing to do!"

    --
    'The Economy' is a giant Ponzi scheme whose most pitiable suckers are the youngest among us and the yet-unborn.
    1. Re:Locked in an airtight room by Anonymous Coward · · Score: 0

      I just hope someone passes that message along to his gardener, his tailor, his cook, his favorite restaurant, his barber, his car dealer, his doctor.....

  47. In his defence... by Anonymous Coward · · Score: 0

    morels are damn expensive.

  48. It is not moral problem by Anonymous Coward · · Score: 0

    Problem is patent instituted monopoly on production of given drug. Remove patent protection and this company can hike prices as much as it wants (for any reason it wants), and it will not matter in slightest.

  49. Greedy...and self-defeating by CAOgdin · · Score: 2

    There are dozens of other manufacturers of this same medication (see https://www.pharmacompass.com/...), and four newer alternatives to this medication that are more widely prescribed (https://healthplans.providence.org/providers/news-and-events/provider-enews-archives/older-articles/uti-drug/).

    Basically, this CEO wants to get out of this highly-competitive marketplace, but is too stupid to just shutdown it's manufacture and sell all remaining stock of the product.

    I love it when incompetent people try to boost their personal wealth, but slit their own throats in the bargain.

    1. Re:Greedy...and self-defeating by avandesande · · Score: 1

      Maybe it's not stupid. Raising the price sends a warning to customers to source the drug from some other company with plenty of lead time and no near term catastrophic consequences. Sure you can send a letter but who do you send it to? And what if it gets ignored?

      --
      love is just extroverted narcissism
  50. Time for some drug patent reform. by Chas · · Score: 1

    This sort of complete market capture for unlimited periods needs to die.

    Rework the system to give these companies 10 years of sole manufacturing rights.
    Then 10 years of royalties on their drugs being mass-produced across the industry.
    After that, let competition decide the winnner.
    And if someone hits this sort of market capture, it then behooves competitors to produce their own brand, driving prices back down.

    Because this shit is insane.

    --


    Chas - The one, the only.
    THANK GOD!!!
  51. Citing 'Moral Requirement' Pharma CEO lies dead... by Anonymous Coward · · Score: 0

    Headline from the future

  52. Re:Same Thing by Anonymous Coward · · Score: 0

    They're idiots too, most businesses would be better off with bigger markets.

    Taking many people out of poverty and letting them participate in the economy would grow many many businesses.

    Only those elites at the very very top would have to pay, and it is them that push so hard against a fairer society.

  53. Morals by Dog-Cow · · Score: 2

    It's just as moral to shoot the CEO in the head. After all, saving millions of people money is the moral thing to do, right?

    1. Re:Morals by Anonymous Coward · · Score: 0

      Where is Remo Williams when you need him?

  54. Kohath is a moron, news at 11 by Anonymous Coward · · Score: 0

    Seriously it wasn't long at all before you outed yourself a complete moron.

  55. Re:Same Thing by courteaudotbiz · · Score: 0, Troll
    I'm Canadian, and I can assure you that our "socialised" system is:
    • Damn expensive (50% of budget in Quebec)
    • Inefficient (people waiting 26 hours in an emergency room for a fractured arm)
    • Inefficient (people waiting 2 years for some basic surgeries)
    • Inefficient (people waiting 1 year for an MRI)

    So please, don't say our system is better than in the US. People are not dying in the streets up here, but when you have a condition, you better be patient. A patient patient.

  56. There are no remaining patents on this, surely? So how does he keep a competitor from starting to sell this for a lower price?

    1. Re:How? by turp182 · · Score: 1

      I was wondering this myself and found this article. Very detailed and well written (which I would expect from the HBR).

      https://hbr.org/2017/04/how-ph...

      --
      BlameBillCosby.com
  57. Decades old? by Sloppy · · Score: 1

    The drug is a decades-old antibiotic...

    If it's decades old, then it must not be patented. Why isn't a competitor beating the living shit out of them?

    Or to put that another way, maybe this company happens to charge that much, but what does it actually cost a user buy?

    --
    As copyright owner of this comment, I authorize everyone to defeat any technological measure which limits access to it.
    1. Re:Decades old? by angel'o'sphere · · Score: 1

      Because the competitor still needs to get his "product" approved by the NHO. Which can take decades as I hear on the internet ...

      --
      Cost free eBook I read (by iBook/Kobo/Amazon/ObookO/Gutenberg etc.): "The Green Odyssey" by Philip Jose Farmer.
  58. The issue here is by oldgraybeard · · Score: 1

    "decades-old antibiotic" a protected market was granted. When does the public (common good) get compensated for granting that original protection. Seems to me the manufacturers just keep buying extended protects from the corrupt politicians and bureaucrats (worldwide) to gain excess profits. This applies to both patent and copyright excessive extentions.

    Just my 2 cents ;)

  59. The reason you can buy the drug for $18 by rsilvergun · · Score: 2

    internationally is that you're buying from countries that have single payer healthcare and therefore can negotiate much, much better drug prices than private insurance companies can/do.

    The free market doesn't solve drug prices. There really is only one solution and it's single payer. Healthcare doesn't work like traditional goods because a) unless you have an 8 year degree you lack the necessary information to make informed purchase, b) it's a matter of life or death, meaning you can't really shop around and c) you need it infrequently enough that you can't rely on repeat purchases to weed out low quality (I buy a new video card every 2 years or so but I'll probably only have 1 set of heart stints).

    --
    Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
    1. Re:The reason you can buy the drug for $18 by ooloorie · · Score: 4, Interesting

      internationally is that you're buying from countries that have single payer healthcare and therefore can negotiate much, much better drug prices than private insurance companies can/do. The free market doesn't solve drug prices.

      You can buy generic Nitrofurantoin in the US for $15 for 14 capsules. That's what the free market provides.

      The reason American insurance companies pay $2800 for the same treatment is because under the ACA, they can get away with this crap and maximize their profits.

      There really is only one solution and it's single payer.

      The US has a large single payer system and it is horrendously inefficient. If you want to use single payer to lower drug prices, you need European-style nationalized healthcare.

    2. Re:The reason you can buy the drug for $18 by Applehu+Akbar · · Score: 1

      All single-payer means, economically, is buying in bulk. If Canada can buy a million doses of a compound at once, companies sell even new, branded compounds for a lot less. No marketing or distribution costs.

      So...why shouldn’t any purchaser of this old, generic compound be able to buy in bulk? Medicare, insurance companies, state indigent care, and private buyers’ clubs should all be able to buy in bulk when this would save them money.

      All we have to do is make this legal in the land of the free market.

    3. Re:The reason you can buy the drug for $18 by alvinrod · · Score: 1

      internationally is that you're buying from countries that have single payer healthcare and therefore can negotiate much, much better drug prices than private insurance companies can/do.

      Nonsense. Internationally, you're buying from a country that doesn't give two shits about enforcing U.S. IP laws so there are a bunch of different companies that are making those medications, which means they must compete on either price or quality. Even if an individual country assigns monopoly rights to a particular company and enforces a price (as some countries do), shopping internationally still allows a customer to choose between competing entities on price. You'll end up buying from those countries that allow for multiple manufacturers unless you don't trust the quality.

      Food, housing, and clothing are all just as, if not more, necessary as healthcare. According to you, these goods shouldn't work in a free market either because they're a matter of life or death, or in the case of houses you don't need a new one frequently, etc. Yet we don't have single payer systems for any of those goods, and it seems consumers have managed to get along fine without a national system. Countries where the government has attempted to get involved with housing or food distribution tend to end up in disaster.

    4. Re:The reason you can buy the drug for $18 by Anonymous Coward · · Score: 0

      This is liquid Nitrofurantoin not capsule. The difference is HUGELY significant, the market for the liquid form is much smaller and the manufacturing is more complex. The liquid form is for those that can't take the capsule form.

    5. Re:The reason you can buy the drug for $18 by Anonymous Coward · · Score: 0

      This is liquid Nitrofurantoin not capsule. The difference is HUGELY significant,

      Sorry, no. The liquid form is for people who have trouble swallowing, quite rare. And regular (not slow release) Nitrofurantoin can be crushed, so you don't need to pay thousands of dollars.

    6. Re:The reason you can buy the drug for $18 by thegarbz · · Score: 1

      because under the ACA,

      Okay stop. The practical joke you call pricing in the USA predates even the notion of electing a president who gives a damn about healthcare, let alone the act itself. The world has been laughing at you for decades.

    7. Re:The reason you can buy the drug for $18 by ooloorie · · Score: 0

      The world has been laughing at you for decades.

      Europeans have been laughing at Americans for centuries. That's because Europeans are illiberal and ignorant.

    8. Re:The reason you can buy the drug for $18 by Anonymous Coward · · Score: 0

      what do you mean sorry no, IT IS FOR THE LIQUID FORM. the crushed tablet is NOT the fucking same as a liquid for infants or others that can't swallow.

  60. I don't want to nationalize healthcare by rsilvergun · · Score: 1

    I want to nationalize the _paying_ for healthcare. It's an important distinction.

    --
    Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
    1. Re:I don't want to nationalize healthcare by ooloorie · · Score: 1

      I want to nationalize the _paying_ for healthcare. It's an important distinction.

      Correct: you want the solution that does not work at all.

    2. Re:I don't want to nationalize healthcare by Anonymous Coward · · Score: 0

      A good, 14 year old analysis of why this is important. (PDF): http://www.necsi.edu/projects/yaneer/NECSITechnicalReport2004-07.pdf

    3. Re:I don't want to nationalize healthcare by Anonymous Coward · · Score: 0

      once the state restriction is lifted where I get my insurance, the market will bend hard and I mean hard right.. which is good. let markets compete. i could get rid of my local insurance provider in a heart beat.. does nothing for me except when shit happens, can I get my money back if no shit happens?

    4. Re:I don't want to nationalize healthcare by Anonymous Coward · · Score: 0

      I want to nationalize the _paying_ for healthcare. It's an important distinction.

      Suppose a Pharmaceutical manufacturer knows the government will pay for people to get a drug they sell. Why not charge a crazy amount of money? The patient wants the drug, and the cost doesn't matter as they are not paying. If the government says "no" to paying millions of dollars for a single dose of aspirin, then tell the press that the government bureaucrat who made the rule is killing people, and the people should demand that the government pay for it. Bonus points for saying the bureaucrat is on a "death panel".

      Nationalizing the paying of healthcare will bankrupt any government that tries, unless the government is wiling to fight for limits on costs. That will not happen in a democracy of people who feel that every person is entitled to care, no matter the cost.

  61. I canâ(TM)t wait for him to bring his critica by Anonymous Coward · · Score: 0

    âoeWell, given my moral obligation to make money, how much are you willing to pay for me to treat your child? âoe

  62. In other news.... Greed is Good! by Anonymous Coward · · Score: 0

    Just saying....

  63. Strange Morality by Anonymous Coward · · Score: 1

    Nirmal Mulye's definition of "moral":

    'Something I want to do', likely aided and abetted by others around him, totally in their self-interests and motivated by Greed. That is his idea of "moral".

    Yes, businesses exist to make a profit, and I support all ordinary business practices. Bringing morality into it is a slippery slope into a bottomless pit of contradictions and cross-currents. Suggesting that Greed motivated actions are a moral good is so bizarre and warped that it needs to be summarily dismissed. This idiot should just shut his trap and let smarter (and morally clearer) individuals talk about such matters.

  64. multilayered, govt sponsored, criminal enterprise by harvey+the+nerd · · Score: 1

    Nirmal Mulye is a symptom of a larger disease. The answer is not more government, rather the problem is way too much government already and the lack of importation options, private and commercial.

    These simple, old generic drugs at most only need purity tests not the FDA's battery of legal bs. The FDA's "protection" is about promoting and protecting extortion rackets. I'm a little surprised the neighborhood bootlegger hasn't already re-emerged.

    In formerly third world countries, nitrofuraton can be anything, from under 1 cent per pill, under $1 per 100, to maybe $50 per 100.

  65. These CEO's are short sighted by nehumanuscrede · · Score: 1

    The shortest path to Pharmaceutical Industry price regulation is the path he's currently taking.

    At some point, Congress will have no choice but to regulate what these folks can charge for medicine lest the voters remove them from office. ( This is where your older voters wield immense power )

    The more these CEO's keep jacking the prices by absurd amounts, the sooner the regulation hammer will come down on them all. The other CEO's know this and wish folks would quit putting them all into the spotlight.

    His smarter investors will be quick to point out that the " Moral requirement to make MORE money " will be seriously undermined by industry pricing regulation.

    But, by all means, stay the course. The industry certainly won't get any sympathy from those they're screwing over in the never ending quest for greater wealth.

  66. Execute him... by Anonymous Coward · · Score: 0

    Shoot him for crimes against humanity. That is the moral thing to do.

  67. why the heck is this on /.?? by Anonymous Coward · · Score: 0

    msmash, how you love to kill this place,,
    this guy is morally bankrupt..
    ANY ONE WHOM SUPPORTS THIS IS ALSO IN THE same boat.

    you my interesting little man, will burn in hell.
    you clearly do not understand the concept of managing your environment.
    Remember once you loose your seat @ the "table" your money will only go so far..
    in response to
    "Actually it was I, not Ms Mash, who posted this story.

    I’m always amoused when these low-budget shkrelis claim to be defenders of the free market when they make insane price moves. If we actually did have a free market in pharma, we would be able to fill our prescriptions for this compound at the world market price of $18, as per the closing line that was oddly edited out of my post.

    The only way price increases like this can be made to stick is to have the FDA on your side, preventing us from being able to compete. Time to rip out the FDA’s ability to keep competition out of the market. Let it manage testing, not price manipulation."--Spoken like a true immigrant trying to screw over every one ya can, perhaps this is why you fled YOUR OWN COUNTRY?

    You dumb A** Fu**.

    Why the He** would you decide to post this crap here???
    Moving past that, msmash, who would you publish it..
    dumb Bi***..

  68. Excuses!!! by sentiblue · · Score: 1

    The last fool that jacked the price up a few hundred % ended up in jail... although not for jacking the price.

  69. It's 65+ years old by LynnwoodRooster · · Score: 1

    First used in 1953. it's got lots of generic versions available - just buy and import one of those. Sounds like a small pharma lab identified a drug without really any other US manufacturers and is trying to capitalize on it - before someone else just fires up and brings in the generics from one of the big pharma companies for pennies on the dollar.

    --
    Browsing at +1 - no ACs, I ignore their posts. So refreshing!
  70. Re:Same Thing by jellomizer · · Score: 1

    The real problem isn't the economic system but the management withing the organization.

    If rules are setup where a person or group is granted extra power and authority without correct checks and balances then one group will get everything and the other will not.

    Communism and Socialism to a lesser extent needs an effective and fair governance to make sure just distribution of resources is given.
    Capitalism is can work with less governance as its invisible hand of Supply vs Demand will normally keep things balanced on the whole. However people are smart and abuse the system and can create a lot of extra pain and suffering on the way of being balanced. Where we are having government trying to guide this hand.

    --
    If something is so important that you feel the need to post it on the internet... It probably isn't that important.
  71. Thanks Ayn Rand! by Anonymous Coward · · Score: 0

    "There are two novels that can change a bookish fourteen-year old’s life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs."

      John Rogers

  72. This started in 2003, with Medicare Part D by Anonymous Coward · · Score: 0

    This Is Why Your Drug Prescriptions Cost So Damn Much
    “It’s Exhibit A in how crony capitalism works.”
    by Stuart Silverstein
    Oct. 21, 2016
    Mother Jones

    When [Congress] approved a landmark program in 2003 to help seniors buy prescription drugs, it slapped on an unusual restriction: The federal government was barred from negotiating cheaper prices for those medicines. Instead, the job of holding down costs was outsourced to the insurance companies delivering the subsidized new coverage, known as Medicare Part D.

    The ban on government price bargaining, justified by supporters on free-market grounds, has been derided by critics as a giant gift to the drug industry. Democratic lawmakers began introducing bills to free the government to use its vast purchasing power to negotiate better deals even before former President George W. Bush signed the Part D law, known as the Medicare Modernization Act.

    All those measures over the last 13 years have failed, almost always without ever even getting a hearing, much less being brought up for a vote. That’s happened even though surveys have shown broad public support for the idea. For example, a Kaiser Family Foundation poll found last year that 93 percent of Democrats and 74 percent of Republicans favor letting the government negotiate Part D prescription drug prices.

    It seems an anomaly in a democracy that an idea that is immensely popular—and calculated to save money for seniors, people with disabilities, and taxpayers—gets no traction.

    -- Link to source

  73. Guys, this is a veterinary drug by Anonymous Coward · · Score: 0

    Not even indicated for use in humans. It's used to treat tracheobronchitis in dogs and urinary tract infections in dogs, cats, bovines, and equines.

    Source: 21CFR520.1560(b)

    1. Re: Guys, this is a veterinary drug by Anonymous Coward · · Score: 0

      My disabled kid used this drug today. It's for humans

  74. A little something for those going political by cascadingstylesheet · · Score: 1
  75. Re: Same Thing by Anonymous Coward · · Score: 1

    If they aren't dying then it's better

  76. Re:Same Thing by PsychoSlashDot · · Score: 5, Informative

    I'm Canadian, and I can assure you that our "socialised" system is:

    • Damn expensive (50% of budget in Quebec)
    • Inefficient (people waiting 26 hours in an emergency room for a fractured arm)
    • Inefficient (people waiting 2 years for some basic surgeries)
    • Inefficient (people waiting 1 year for an MRI)

    So please, don't say our system is better than in the US. People are not dying in the streets up here, but when you have a condition, you better be patient. A patient patient.

    I'm a Canadian too, and the circumstances you've cited are worst-case and relatively uncommon. Non-critical illnesses are at a lower priority than critical ones, but people get the care they need, regardless of the depth of their pockets. So yes, our system is better, in most ways.

    --
    "Oh no... he found the .sig setting."
  77. Re: Same Thing by Anonymous Coward · · Score: 0

    Please, do not introduce logic to this thread...it in will not be tolerated. You should also be ashamed for pointing out the cons of socialized medicine...only the pros should be so smokey the emphasized...there must be some...

  78. Re:Same Thing by Anonymous Coward · · Score: 0

    LOL!

    Who decides what is "needed"?

    Who decides what is a, "priority"?

    Do they just give you a pill and send you home?

  79. Re:Same Thing by Anonymous Coward · · Score: 0

    Holy shit /., you really modded this AC up to 4???

    "Americans are just too uneducated and unenlightened"... We didn't even need to bother finishing the sentence to get those upvotes, did we?

  80. And the Shoggoths go "Shkreli" by Anonymous Coward · · Score: 0

    I want my Lovecraftian horrors back. At least they don't cite a moral duty for sucking sick people dry.

  81. "Moral requirement" by GameboyRMH · · Score: 1

    These are now the most evil "morals" I've ever seen.

    --
    "When information is power, privacy is freedom" - Jah-Wren Ryel
    1. Re:"Moral requirement" by mi · · Score: 1

      These are now the most evil "morals" I've ever seen.

      Evil? If this company did not exist, you wouldn't be able to get this drug at all. Given a choice between:

      • Pay five times more.
      • Not be able to buy it.

      I — and everyone else with a brain — would choose the first option. Because, even if the drug is available, you don't have to buy it.But, if it is not available (second option), you will not be able to buy it at any price. Simple logic.

      It is his right, and his prerogative to jack the price to whatever the market will bear. It is also his duty to the shareholders — both legal and moral obligation indeed.

      --
      In Soviet Washington the swamp drains you.
    2. Re:"Moral requirement" by GameboyRMH · · Score: 1

      Horse-fucking-shit! First of all, he could be a lot less (but still significantly) evil and continue to be incredibly overpaid by leaving the medication at its already overinflated price. But he's SO much more evil than that.

      Next, another less evil possibility is that someone else could be the CEO of this company who would take less pay and allow the drug to be cheaper to help millions of people.

      Another is that IP laws could be revised to allow many companies to make generic versions of the drug for pennies on the dollar.

      Another is that pharmaceutical research and production could be nationalized to allow drugs to be cheaper than could ever be possible from private companies with fatcat CEOs and massive marketing costs.

      This guy is incredibly evil, fuck him and anyone who supports his decision.

      --
      "When information is power, privacy is freedom" - Jah-Wren Ryel
    3. Re:"Moral requirement" by mi · · Score: 1

      The CEO's pay has vanishingly little to do with the price of the product. Do the Math.

      Another is that IP laws could be revised to allow many companies to make generic versions of the drug for pennies on the dollar

      Sure, this will lower the prices of the already existing drugs. It will also stop creation of new ones, however — as I said.

      Instead of having a choice between buying it at whatever price and not buying it, you — and all the rest of us — will be unable to buy it, period.

      fuck him and anyone who supports his decision

      No, dear, if you want to get personal, fuck you — sideways with a splintered broomstick — for seeking to rob me of the drugs you consider overpriced. You could've just said: "forget it, at this price, I'll do without". But no, that's not good enough, is it? Like a good Illiberal, you are saying instead: "If I deem it too expensive, let no one have it!"

      --
      In Soviet Washington the swamp drains you.
    4. Re:"Moral requirement" by GameboyRMH · · Score: 1

      Horseshit again. You refuse to consider any options between infinitely evil runaway greed and medications not existing, when there are examples around the world of these other possibilities.

      Saying "fuck you" to each other is going nowhere, so instead I'll say this: May you one day be dependent on a medication that some greedmonster CEO jacks the price sky-high on, so that you may get exactly what you've asked for.

      --
      "When information is power, privacy is freedom" - Jah-Wren Ryel
    5. Re:"Moral requirement" by mi · · Score: 1

      You refuse to consider any options between infinitely evil runaway greed and medications not existing

      There aren't any. Things either exist, or they don't. For new drugs to appear, years of effort — by highly-educated — is required. Any attempts to tell the corporations, which are keeping these well-paid researchers on their payroll, what they can and can not charge for the resulting products, slows down — and frequently kills off — this research.

      when there are examples around the world of these other possibilities

      You cited precisely zero such.

      Saying "fuck you" to each other is going nowhere

      Then you shouldn't have started, eh, Miss Manners?

      May you one day be dependent on a medication that some greedmonster CEO jacks the price sky-high on, so that you may get exactly what you've asked for.

      At that point, I'll have a choice of either paying the "greedmonster", or doing without. You — angry at someone else for making "too much" money — would like to rob me of that choice. And that's why I continue to wish for something painful and unnatural to happen to your tender insides...

      --
      In Soviet Washington the swamp drains you.
    6. Re:"Moral requirement" by GameboyRMH · · Score: 1

      There aren't any. Things either exist, or they don't. For new drugs to appear, years of effort — by highly-educated — is required.

      This doesn't require supplication to infinite greed. Many drugs have been developed and sold profitably and somewhat affordably without massive gratuitous price increases - and that's with most of the money going into marketing rather than paying pharma research scientists!

      At that point, I'll have a choice of either paying the "greedmonster", or doing without

      At which point you would be maimed or killed by what ails you. What kind of choice is that? I'd prefer that you stop wishing harm on yourself and others so that you could be healed in this hypothetical scenario, but if you don't, this would be acceptable. Also I'm not nearly as angry at someone else making too much money as I am about sick people being extorted to greater illness or death for no reason other than to further enrich a few already very rich people.

      You cited precisely zero such.

      This shouldn't be necessary when the examples are so plentiful and easy to find, you're being obtuse, but I'll cite some anyway.

      Drug that doesn't have its price gratuitously jacked sky high: The drug in TFS, yesterday and before.

      Examples of loose IP laws allowing pharmaceuticals being manfuactured cheaply:

      https://theconversation.com/wo...

      Example of state-owned pharmaceutical companies working:

      https://en.wikipedia.org/wiki/...

      --
      "When information is power, privacy is freedom" - Jah-Wren Ryel
    7. Re:"Moral requirement" by mi · · Score: 1

      Drug that doesn't have its price gratuitously jacked sky high: The drug in TFS, yesterday and before.

      I've never heard of a drug called "TFS", nor would I know anything about its price. That's not a citation.

      Examples of loose IP laws allowing pharmaceuticals being manufactured cheaply

      "Manufactured" is the key word here. Once the research is done and paid for, actual manufacturing may be cheap. Your very article is about poor countries being allowed to manufacture, what the pharmaceutical companies have researched and created — at high expense. That expense is being borne by the patients in the rich countries.

      Example of state-owned pharmaceutical companies working

      That link is also about manufacturing. The Chinese — quite telling for a Collectivist to offer China as an example — are particularly infamous intellectual property thieves.

      Again, once it is known, mass-producing it may be cheap. Researching the next drug, however, is funded by the profits from the previous ones. Your attempts to tell companies: "No, you can not charge this much" — threatens those profits for them, and the availability of new drugs and treatments for the rest of us.

      Keep your grabby Collectivist hands off — what you want, in essence, is price control, a notion far more evil and destructive than anything one CEO ill-trained in the Art of Public Relations could come up with.

      --
      In Soviet Washington the swamp drains you.
    8. Re:"Moral requirement" by GameboyRMH · · Score: 1

      "TFS" is the well known Slashdot acronym for "The Fucking Summary," as in that block of text near the top of the story page. In case you didn't make the connection to the drug we've been talking about.

      Again your reasoning mostly consists of cherry-picking and false dilemmas. First the false dilemma that runaway gratuitous price increases are necessary for pharma R&D. Again, drugs that suffer this problem are the exception rather than the rule. Most medications have been produced by companies that never jacked medication costs sky-high just because they could.

      Next, there is no reason a state-owned pharmaceutical company couldn't research and create new drugs, all without a marketing budget or a horrendously overpaid CEO. The research scientists can work the same regardless of where their dollars came from. Without the need to pay for marketing or luxuries for the C-suite, the costs of developing new drugs can be greatly decreased. This breaks your circular reasoning that the cost of developing new drugs is seemingly infinite and therefore requires infinite dollars. They're finite and can be easily halved or better.

      I don't want price control, I want at the very least an end to horrendous waste and exploitation, and ideally nationalization of health care in the long term. Health care should not be at the whims of the free market because the demand for it is as close to perfectly inelastic as will ever exist. People will pay any cost to avoid dying, and these fuckers know it, leading to this horrendous exploitation.

      People are suffering and dying while being fleeced of all their money for no good reason other than to make some already rich people even richer, while there are viable ways to greatly reduce or eliminate the problem. To me, that's morally indefensible.

      --
      "When information is power, privacy is freedom" - Jah-Wren Ryel
  82. Does an Effective Alternative Model Exist? by Slicker · · Score: 1

    Grant oriented and government laboratories have not been very efficient at developing vaccines or drugs for treatments, generally.

    The commercial incentives have spurred corruption (fake science journals, etc) and absurd pricing but it has proven to be more efficient, overall, at coming up with drugs that work.. even if they actively suppress vaccines and cures.

    I wonder, would bounties work better? Would government buying out these drug patents work better? The prices would need to be very high but the results could be well worth it.

    I think we should do two things:
    (1) Offer bounties for cures and vaccines of the most critical ailments (affecting most people and/or cause the most suffering); then make the patents generically available to commoditize them to lowest production prices. Being as those bounties would need to be very high (multi-billion dollars), these would have to be for a limited number of ailments.
    (2) Invest heavily in technologies that can speed up and reduce costs of research and development of new vaccines and treatments. This will include AI, automation, or anything that helps.. even if it's purely methodological.

    Otherwise, allow the industry to work as it does.. filling in the gaps as best it can.

    1. Re:Does an Effective Alternative Model Exist? by jeff4747 · · Score: 1

      Grant oriented and government laboratories have not been very efficient at developing vaccines or drugs for treatments, generally

      Except for the minor detail of developing all of them.

      Pharmaceutical companies generally do not perform the basic research to identify new drugs. They take drugs that were developed by those laboratories you decry, do the final rounds of human trials, and then start selling them.

  83. Available from Indian pharmacies cheap by Anonymous Coward · · Score: 0

    alldaychemist.com and others

  84. Re:Same Thing by Anonymous Coward · · Score: 0

    are you a virtual slave to your employer because if you loose health insurance your self or one you love will surely die? Because thats the norm here for people approaching retirement.

  85. Re:Same Thing by Rob+Y. · · Score: 4, Insightful

    Obviously, your 'invisible hand of Supply vs Demand' isn't working in this particular Capitalist case. The problem is our perverted version of Capitalism. We grant monopolies on pharmaceuticals, and then act in total denial of the ways monopoly distorts supply and demand.

    So, I'll grant this guy his 'moral imperative' to charge as much as he can. As long as we recognize (and insist on) Government's moral imperative to fix the distortions of the market caused by, yes, important government interventions like patent protection. I.e., there needs to be a government enforced limit on how much as he can charge. And then let the market work its magic within that reasonable playing field. And if the market doesn't work in all cases - well, maybe those gaps need to be filled by the government too. That's not fascism or slavery or any of the hyperbolic anti-government names you want to use. It's just a simple acknowledgement of reality.

    --
    Posted from my Android phone. Oh, I can change this? There, that's better...
  86. The special place in hell for this guy by GameboyRMH · · Score: 1

    When this fucker goes to hell with a FastPass, he'll be an ordinary working-class American with a UTI at this time. After he dies penniless from gangrene after his dick falls off, he's sent into a fever dream where he's forced to give the laughing, CEO version of himself a blowjob. This copy also has a UTI-riddled rotten zombie dick that jizzes out spiders. Next, GOTO 10.

    (shame there's no hell for this guy...)

    --
    "When information is power, privacy is freedom" - Jah-Wren Ryel
  87. Re:Same Thing by Anonymous Coward · · Score: 0

    Bash America regardless of reality, get at least +3. Slashdot is a game that some are better at than others.

    Fuck Trump, his supporters are worse. American's are stupid and fat. Watch out! Putin is trying to hack your router. Protect it with AI blockchain crafted for you personally by Elon Musk.

  88. Re:Same Thing by sinij · · Score: 1

    Quebec underfunded healthcare for years, the rest of Canada is in much better shape.

  89. Re:Same Thing by Kiuas · · Score: 5, Informative

    So please, don't say our system is better than in the US. People are not dying in the streets up here, but when you have a condition, you better be patient.

    Because these systems are always partially or entirely tax-funded this obviously means that wait times for some non-critical operations can be higher, because people in immediate risk take priority but this is true in the states as well. If you actually compare waiting times for a specialist for example, you'll note that US is pretty much on par with the UK, and that Canada is on the slower side of other universal model countries (which, is all advanced countries other than the US). I work for the largest health care district of the Finnish single payer health care system with about a million people under it, I can quote you some numbers (these are from 2015 because they're publicly available (Finnish only though), can't access the current stats from home). Of the 27 most common types of surgery, we had altogether 26 658 people in queue in 2015, of which 19,5 % waited for more than 6 months. The median wait time was 87 days. For the 2 heart-related surgery-types on the list (bypass and percutaneous coronary intervention the median was below 30 days). The question here is: would it be better for the uninsured in the US to wait a bit to get good health care from the existing system with public money, or wait til' they die or go bankrupt? Is it beneficial for the US economy as a whole to remain the only country where people have to go into debt due to medical problems?

    Thing to realize is that this is about availability, not quality. Quality-wise the US model is not significantly better nor is it worse. In fact, quality-wise the system is just fine for the people who're insured, the main difference is that the lack of universal public insurance leaves some people outside of the system driving up deaths. And the far more commercialised nature of the systems drives up margins and administrative costs (which is a large part of the huge spending difference (about twice the average spending of comparable countries) between the US and the rest of the world. In fact, medicare for example is already cheaper (per head covered) costs-wise than private options, largely cause it has better costs-management and lower administrative costs).

    The are plenty of universal models out there which aren't single payer like Canada or here. All the US would have to do to implement such would essentially be to allow medicare/medicaid like option for all , and it would likely bring total costs down in the long term and better care for everyone.

    But sure, keep posting anecdotal stuff about wait times instead of the larger picture., that's always constructive!

    --
    "It is the business of the future to be dangerous" -Alfred North Whitehead
  90. morality served by Anonymous Coward · · Score: 0

    This is what happens when words are misused - either accidentally (then exploited with harmful greed), or intentionally with harmful greed). We all remember that capitalism is a mechanism and a perspective, not a legitimization. By using the word, "morality" to argue his evil affects, he hopes to get saved through complexity. But we can all feel the disdain and disrespect that his voice has brought.

    For factually arguing his (presumed) greed as moral, he begs just that. That he is immoral (stomach punch back to the guy).

  91. Re:Same Thing by gmack · · Score: 1

    You have to keep in mind that Quebec's system is bad for reasons other than socialism. The main problem in Quebec, is that the government keeps driving medical professionals out of the province. Also, the percentage of the Quebec budget is 34.3%, You think Canada is expensive? Canada spends $4753 each year for each person on healtchare. The US spends $9892

  92. Re:Same Thing by j-beda · · Score: 5, Insightful

    LOL!

    Who decides what is "needed"?

    Who decides what is a, "priority"?

    Do they just give you a pill and send you home?

    Yeah! We don't want a faceless government bureaucracy ultimately beholden to elected officials to set health policy! We want all our healthcare decisions to be made by a faceless corporate bureaucracy ultimately beholden to shareholders! Clearly that is the one true path to success!

  93. But... But... it's the basis of capitalism! by Anonymous Coward · · Score: 1

    Not earning money... but *making* it. Which means, either stealing it (euphemism: profit, job creation), or literally making it up (euphemism: banking, stock trading).

    I'm strongly against dismissing capitalism as a concept, mind you.
    It's more intended as sarcasm, to highlight the need, to separate such behavior and capitalism.

    Since the ICD 10 defines sociopathy and psychopathy as two words for the same illness, and "sociopath" gets used as an euphemism ("he's just a sociopath"), I would call it "psycho-capitalism". How would you call it?

  94. No they cannot, it's against the law by lamer01 · · Score: 1

    That's the market distortion introduced by the Govt and sponsored by big pharma

  95. Re: Same Thing by j-beda · · Score: 0

    Please, do not introduce logic to this thread...it in will not be tolerated. You should also be ashamed for pointing out the cons of socialized medicine...only the pros should be so smokey the emphasized...there must be some...

    There are no pros! There are only cons!

    And the biggest con is that virtually every industrialized country has bought into the con of socialized medicine! What a bunch of idiots! Anyone who tries to tell you things like "yeah, different systems have challenges, but most people in most places have come to the conclusion that universal health care is the way to go" are just running part of the scam! Don't listen to them!

  96. Who said anything about insurance? by lamer01 · · Score: 1

    When in was in Europe last time, we needed a prescription filled for a drug that in the US cost $600 (Mind you that was the insurance negotiated price in the US). The european pharmacy provided the equivalent medicine for 6 euros. No insurance was ever involved. That is the scam. Most of us would not need to exorbitant insurance premiums if the medication were priced at their world price. That is the real fleecing of America. We should be outraged on in the streets about this but they have obfuscated all of this in such a way that most Americans don't know that they are getting fleeced anymore.

  97. Karl Marx, is that you again? by Anonymous Coward · · Score: 0

    Revolved out of your grave again? Well, we couldn't just let the "real existing socialists" give you a bad rap. Let's give the proletariate some good reason to revolt again. Maybe it will work this time round. Unless you want to call Trump the "dictatorship of the proletariate". I mean, it's tempting.

  98. Re:Same Thing by j-beda · · Score: 1

    are you a virtual slave to your employer because if you loose health insurance your self or one you love will surely die? Because thats the norm here for people approaching retirement.

    Anyone who is not willing to quit their job and move across the country to find work in a new field that maybe offers better health care coverage really just hates America. They are the problem with the US health care system! Not the insurance companies! Not the employers!

  99. CORPORATE government regulation! by Anonymous Coward · · Score: 0

    I hate when Americans say "government" like they have an actual one ...

    You have a council of corporate employees, using "regulation" specifically to harm competitors and make more profit, and call it "government" so they can act like they are the "innocent victims" when it happens to be them at the bloody end of the stick, and so they can make you hate and want to minimize the very and only thing you have ... an actual government for the people ... to prevent them tipping the market to your disadvantage. (Free market my ass. This is exactly what a too free market gets you. Corporations hate nothing more than an actually free market.)

    So please don't hurt yourself, by using that "regulation" meme that way.

    TL:DR: Why are you hitting yourself?

  100. Taxes don't make money by Solandri · · Score: 2, Insightful

    Legitimate business transactions make money because a legitimate business transaction is a benefit to both buyer and seller. The seller sells the item because he's being paid more than it cost him to make or acquire. The buyer buys the item because it's worth more to him than the price that's being charged. That is, legitimate economic transactions are positive-sum.

    Taxes transfer money. And inefficiently at that (you have to pay someone to calculate the taxes, pay to make the payment, and pay someone to collect the taxes). That is, taxation is negative-sum. So taxes in and of themselves cannot make money.

    Taxation can be a net gain if the tax revenue is spent on things which benefit the economy more than the amount of money spent. For example, building a road may cost $1 million. But if the amount of money saved by companies transporting goods due to the new road exceeds a cumulative $1 million, then the road is a net benefit and spending to build it was worth it. So government spending can make money, but taxation on its own cannot. However, unlike a business, there is no inherent pressure to force a government to make sure all spending of tax revenue is justified in this manner. That is, a government can't go bankrupt if it wastes money - it can just continue to raise taxes to pay for wasteful spending, up until the amount of its spending equals the sum total productivity of all its citizens (effectively approaching 100% taxation, which is what leads to the runaway inflation Venezuela is experiencing).

    In this particular situation, the "proper" price for the drug is the one which maximizes revenue. If the company sets the price too high, then sales decrease enough to offset the higher price, and the company makes less money. The "proper" price is when (units sold)*(price per unit - cost to produce) = a maximum. At that price, the drug is being distributed most efficiently - an equal split in the benefit of the drug between the buyer and the seller. In this way, if the benefit is extremely large, the profit is large, which attracts other manufacturers to enter the market, thus increasing competition and lowering prices (sellers take a smaller cut of the benefit).

    Usually when these situations crop up where a company can jack up the price beyond reason, it's due to it being the sole supplier (having a monopoly). That's what happened with Epi-pens. Except natural monopolies are extremely rare, and AFAIK every one which has formed has been dealt with with anti-trust regulations. The remaining monopolies are all due to poor government regulation. In the case of Epi-pens, it was the FDA approval process raising the cost of entry for any competitor so high that nobody else felt it was worth entering the market (competing with an established supplier could lower the price to just above manufacturing cost, meaning it could take decades to make back enough money to pay for the FDA approval process).

    According to wiki, Nitrofuratoin has been around since 1953. There are generic versions available, so it would appear the patents on it have expired. The only people having to pay the exorbitant new price are those who insist on buying the name-brand version instead of the generic version. If the generic version is not available for sale in the U.S., then that's a problem with the FDA approval for manufacturing the generic, not with a company jacking up prices. Unfortunately, TFA never explores this aspect of the problem since it appears to be a single-minded hit piece against pharmaceutical companies.

    1. Re:Taxes don't make money by NormalVisual · · Score: 1

      If the generic version is not available for sale in the U.S., then that's a problem with the FDA approval for manufacturing the generic, not with a company jacking up prices.

      The poster child for this is the drug colchicine, an anti-inflammatory used to treat active gout attacks. Colchicine (in its native form in the autumn crocus plant) was known to the ancient Greeks for the treatment of gout. For 3500 years, it had been used successfully in this capacity. It had been available as an isolated (and more effective) drug since the late 1800s. Until about 2009, it cost a few pennies per pill from any number of manufacturers. However, the FDA instituted the Unapproved Drug Initiative in 2006, and as colchicine was officially an unapproved drug, URL Pharma ponied up a little bit of cash to run trivial clinical tests that showed, "hey, this drug works for gout, subject to dosage guidelines and a few interactions that any competent doctor already knew about", just like we'd already known for literally millennia. For their efforts, URL Pharma was granted a patent on the thousands-of-years-old drug, resulting in a monopoly on the production and sale of colchicine as the brand name Colcrys, and per-pill costs went from a few pennies to $5.00. Generic colchicine has recently become available again as the patent expired in 2014, but since the FDA-approved formula is used under license from URL Pharma, prices from generic providers have only dropped to a few hundred percent more than when this fiasco started, down from the few *thousand* percent when Colcrys was the only available option. 15 years ago I could get a bottle of colchicine from any pharmacy for $2-3 instead of the $80 or so it costs today. I feel so much safer.

      --
      Please stand clear of the doors, por favor mantenganse alejado de las puertas
    2. Re:Taxes don't make money by Anonymous Coward · · Score: 0

      Legitimate transactions may be positive-sum, but jacking up the already profitable price of something is zero-sum. Or possibly negative-sum if the ill can't afford it anymore and they die, while they could remain productive if healed.

  101. Seven Deadly Sins... by Anonymous Coward · · Score: 0

    There's nothing moral about greed. Especially when it leads to the death of someone who could have lived had the medication not been priced so high as to make it unattainable.

    If even one person dies because of price-gouging, which this is, then the officers of the pharmaceutical companies, as well as their board members and majority stock holders should all stand trial for a minimum of Wrongful Death, if not down right murder, as had they not been greedy, the person might have lived.

  102. Moral Imperative by Fluffymuffin+Cocobut · · Score: 2

    We have a moral imperative to identify and remove sociopaths from our society - be they CEOs or entire corporations.

    --
    imagine a soft, buttery paw gently pressing down onto a sleeping soldier's face. forever.
  103. RE: by Anonymous Coward · · Score: 0

    The invisible hand of the market will solve everything. And to anyone thinking "He is putting his company in bad light" as a solution to this problem, it wont paint his company in bad light if this behaviour is copied by other players.

    And yes, slashdot, cat got my tongue.

  104. When does the next Wu-Tang album drop? by Anonymous Coward · · Score: 0

    Since this guy should be all over that...

  105. Re:Same Thing by Anonymous Coward · · Score: 0

    So please, don't say our system is better than in the US. People are not dying in the streets up here, but when you have a condition, you better be patient. A patient patient.

    That's also true in the US, you will find people sitting in the ER, you will find expensive costs, you will find it hard to get surgery, and a quick MRI doesn't do much good when you don't get treatment.

    Really, the US spends much more per capita than Canada, and it's even worse when you factor for patients treated, ERs are slow, and worse yet, shutting down due to costs, and surgery can be outright dangerous.

    The fact is, you're relying on short-sighted, myopic views, and not covering the whole.

  106. Re:Same Thing by Anonymous Coward · · Score: 0

    people get the care they need

    As judged by whom? Doctors, whose medical errors are responsible for more deaths than car accidents in the US? I don't like any system that removes my choices, especially when it means that in even some rare edge cases I can be forced to die.

  107. Or go out of business, leaving the world with none by Anonymous Coward · · Score: 0

    Or go out of business, leaving the world with none

  108. Re:Same Thing by Anonymous Coward · · Score: 1

    We don't want a faceless government bureaucracy ultimately beholden to elected officials to set health policy! We want all our healthcare decisions to be made by a faceless corporate bureaucracy ultimately beholden to shareholders! Clearly that is the one true path to success!

    False dilemmas aside, in a private system your healthcare decisions are not made by a faceless corporate bureaucracy. You can switch insurers, or pay out of pocket to go to another doctor. When the whole country is one system you have neither of those choices. You are literally forced to accept the fate handed to you by a single bureaucracy.

  109. Never forget by PopeRatzo · · Score: 1
    --
    You are welcome on my lawn.
  110. Re:Same Thing by Anonymous Coward · · Score: 0

    Just to add a comparison
    I'm in Ontario. 43.1% of budget is health.

    Just took my kid to the emergency room for a fracture. From entrance to exit, it took a little under 4h including seeing a Dr and getting an X-ray. I have no problem with this.

  111. Re:Same Thing by Anonymous Coward · · Score: 0

    26 hours wait in an emergency room for a non life threatening injury isn't uncommon where I'm at in the US.
    On top of the wait here you'll pay them $1000+ if you're not insured and even with the fairly good insurance I have it would be a $500 co-pay. I'd say you guys are probably better off

  112. Someone give that man a dictionary! by Anonymous Coward · · Score: 0

    The CEO appears to be quite confused as to what a moral is: "Concerned with the principles of right and wrong behavior and the goodness or badness of human character. Synonyms: virtuous, good, righteous, upright, upstanding, high-minded, principled, honorable, honest, just, noble, incorruptible, scrupulous, respectable, decent, clean-living, law-abiding"

    The CEO and the board that elected him lacks all of those qualities in spades. No morals to be found here - just pure greed to pad his own pockets at the expense of people who are suffering.

    The correct fix for this nonsense is to change the law so that anyone participating in the practice of medicine cannot operate a company on the stock market. The stock market sucks the soul out of a company and you don't really want that to be happening in medicine because what this CEO is doing is what will naturally happen.

  113. Re:Same Thing by Anonymous Coward · · Score: 0

    citation please.

    this is called a TRIAGE, the usa does it too. If you're going to the ER for an arm fracture, you're going to wait for the people with real medical emergencies.

  114. Not recommended for 65 or older by Anonymous Coward · · Score: 0

    This drug is not even recommended for old people. This is really a non story.

  115. Hmm by Anonymous Coward · · Score: 0

    Evangelical Christian businessmen have morals?

  116. WWJD & the False Idol of Money by Anonymous Coward · · Score: 0

    What would Jesus do? He'd flip over the tables of moneychangers, and kick everyone out of the temple. Making a huge profit is not a "moral requirement". Making an honest living and supporting your family and community is a moral requirement. The distinction is important, and the corrupted have difficulty seeing the distinction!

    I'm not saying that Christianity is the only moral insight (or even a valid one, if you're not of the Faith). But it's a wildly popular religion in North America, and also wildly misunderstood. It's clear that what this person considers "moral" is not anything any of us have been taught or could even relate to. His is a wicked position. I'm sorry if that seems like I'm passing judgement, but his behavior is wrong. Maybe he can change on day, I hope so.

    I'd ask that those who consider themselves Christians, right-wing or left-wing politically, seriously remember the most cherished stories of the Gospel. And compare the behavior of the powerful elite in our country against the example set forth by Jesus.

    Matthew 6:24 No one can serve two masters. Either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve both God and Money.

    Profit is not a Christian value!

    1. Re:WWJD & the False Idol of Money by Anonymous Coward · · Score: 0

      Except for the Catholic Church Corporation, LLC.
      Where they send you bills if you don't submit your "tithe" in a timely fashion...

    2. Re:WWJD & the False Idol of Money by Anonymous Coward · · Score: 0

      That's not really the same thing. Tithe isn't profit, it's tax.

  117. Re: Same Thing by Anonymous Coward · · Score: 0

    Try it and see how successful you actually are
    Hint. Few medical providers, few insurers (and often zero with pre-existing conditions), and zero accountability (you agreed to pay x, but person y is brought in to do some part and you had no agreement with them so you are screwed).

  118. Re:Same Thing by outlander · · Score: 2

    +1.

    The US' system may not be qualitatively better or worse, but it definitely is more expensive per unit of healthcare services than other systems. Learned that when in Sweden a few years ago - public healthcare is not inexpensive, but it is far less expensive than free-market systems.

    --
    "Truth is what works" -- William James "It works!!" -- o-dark-AM comment
  119. Failed CEO Moral Leadership by WillAffleckUW · · Score: 2

    It's a legal requirement to make money, not a moral requirement.

    Jesus said to help the poor and become fishers of men, not banksters.

    --
    -- Tigger warning: This post may contain tiggers! --
  120. Re:Same Thing by Anonymous Coward · · Score: 0

    I'm a Canadian too, and the circumstances you've cited are worst-case and relatively uncommon. Non-critical illnesses are at a lower priority than critical ones, but people get the care they need, regardless of the depth of their pockets. So yes, our system is better, in most ways.

    Then why is you Gov't screaming that things are going to get much worse, because there are not enough primary care doctors and the shortage is intensifying despite the Gov't's attempts to improve the numbers ?

    The real point being that medicine in general spends way too much time treating illness and disease rather than prevention. In the utopian paradise you speak of, the primary care doctors would the ones making all the money and the specialists would be the next tier down.

  121. Re: Same Thing by Aighearach · · Score: 1

    You don't even seem to have understood the meaning of the words even as far in as, "pros and cons."

  122. Re: Same Thing by Anonymous Coward · · Score: 0

    Ya you would rather have an insurance company doctor who is incentivized to deny you coverage you paid for make that decision.

  123. KillHim by Anonymous Coward · · Score: 0

    And I have a moral obligation to kill him if one of my family members dies because they can't afford his exorbitant prices.

  124. Re:Same Thing by IcyWolfy · · Score: 1

    Your doctor decides what is needed, and what is a priority.
    Co-worker went in to the Clinic for neck pain.
    They took an MRI.
    Within 30min, they had him at an ER Surgical room, going in for emergency spinal surgery.

  125. Re:Same Thing by Comrade+Ogilvy · · Score: 1

    "Damn expensive" means what? Here in the USA we pay about 50% more as a portion of our GDP for our healthcare, overall, compared to Canada.

  126. Re:Same Thing by IcyWolfy · · Score: 2

    Who waits for an MRI for that long?
    My co-worker had his MRI done within 2 hrs.

    I have had MRIs scheduled within 2 days.

    A fractured arm isn't an Emergency situation, people can go days without it being treated and be fine.
    If the Triage at the ER receives people that are going to -die- without treatment, they will be bumped ahead of you. just like in the US.

  127. Re:Same Thing by jeff4747 · · Score: 0

    I'm a USA-ian. We have every one of your downsides, and as an added bonus we pay double what you do via taxes.

  128. Re:Same Thing by jellomizer · · Score: 1

    As I stated the invisible hand of capitalism causes a lot of pain the in the process. If prices get too high for people to afford, the company will go out of business due to lack of customers, or be forced to lower its prices. But for this correction to happen a lot of people will be hurt in the process.

    This is why Socialism is a popular alternative, with higher regulations attached to a free market, it allows a lot of the pain to be eased. At the expense of massive growth.

    --
    If something is so important that you feel the need to post it on the internet... It probably isn't that important.
  129. Re:Same Thing by IcyWolfy · · Score: 1

    In Phoenix, we had to wait 4 weeks to get an MRI scheduled (Wrist)
    Vs 2 Days in California (Neck)
    Vs 3 Days in Calgary, Canada (Neck/Upper Back)

    Given personal experience, US can be much much worse.

  130. Re:Same Thing by Anonymous Coward · · Score: 0

    but we also dont have a national system of healthcare, we let the provinces implement, as i believe every state is free to on its own

  131. Re: Same Thing by datavirtue · · Score: 2

    People die in the US from preventable diseases. Chronic disease. From stuffing twinkies in thier neck and loading up on a pound of beef when they are in the mood for a "healthy" meal.

    --
    I object to power without constructive purpose. --Spock
  132. Re:Same Thing by quicks0rt · · Score: 1

    This is the reality in your free market situation:

    You are disgruntled that you are not getting a proper treatment through your provider for the illness you currently have, often straight up denying claims or not covering illnesses that were specified somewhere in fine print in your 1000-page contract. You cancel out of anger and try to sign up for next competitor. The new provider deems you have pre-existing condition and deny you. You say, "oh, shit, I better go back, quick!" But then your previous provider denies you as well for having pre-existing condition even though you insured with them for decades before jumping ship. Now you solely pay out of pocket for exorbitant amount of money draining your savings and/or taking out second mortgage against your house OR you stay with your shitty provider that barely covers you. Few months in, now you're broke and declare bankruptcy.

    You think this is a cool story? It happens to millions of people in US every year.

    https://www.cnbc.com/id/100840...

  133. Re:Same Thing by Ol+Olsoc · · Score: 1

    I'm Canadian, and I can assure you that our "socialised" system is:

    • Damn expensive (50% of budget in Quebec)
    • Inefficient (people waiting 26 hours in an emergency room for a fractured arm)
    • Inefficient (people waiting 2 years for some basic surgeries)
    • Inefficient (people waiting 1 year for an MRI)

    So please, don't say our system is better than in the US. People are not dying in the streets up here, but when you have a condition, you better be patient. A patient patient.

    We need to stop providing all medicine anyhow. If God didn't want us to have diseases, he wouldn'g give them to us. When you treat a diseas with a man made medicine, you are working against God's divine will. Either die, or recover, and do it on your own dime and time. Canada will be treated to the fiery flames of hell.

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  134. Citing 'Moral Requirement To Make Money', by grep+-v+'.*'+* · · Score: 1

    NOOOoooOOOO, that's not right. At least be honest here.

    It's "Because I Can."

    --
    If the universe is someone's simulation -- does that mean the stars are just stuck pixels?
  135. Re: Same Thing by Ol+Olsoc · · Score: 1

    People die in the US from preventable diseases. Chronic disease. From stuffing twinkies in thier neck and loading up on a pound of beef when they are in the mood for a "healthy" meal.

    Fear not citizen. There is a weight limit to get into heaven and recieve God's endless paradise. Fat 'Murricans adipose tissue is what powers the flames of hell.

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  136. Re:Same Thing by Ol+Olsoc · · Score: 1

    False dilemmas aside, in a private system your healthcare decisions are not made by a faceless corporate bureaucracy. You can switch insurers, or pay out of pocket to go to another doctor. When the whole country is one system you have neither of those choices. You are literally forced to accept the fate handed to you by a single bureaucracy.

    Precisely correct. After my father died, he switched insurers. The free market addresses everything and has never failed.

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  137. Common myth:Book report. by Anonymous Coward · · Score: 0

    A book I highly recommend.

    https://www.bkconnection.com/books/title/the-shareholder-value-myth#more-book

    The Shareholder Value Myth
    How Putting Shareholders First Harms Investors, Corporations, and the Public
    Lynn Stout

    I find it more enlightening why this myth continues to persist, even among the educated. It's almost like that's what people secretly want, no matter how it's portrayed in public.

  138. Re:Same Thing by Ol+Olsoc · · Score: 1

    Who waits for an MRI for that long? My co-worker had his MRI done within 2 hrs.

    I have had MRIs scheduled within 2 days.

    A fractured arm isn't an Emergency situation, people can go days without it being treated and be fine. If the Triage at the ER receives people that are going to -die- without treatment, they will be bumped ahead of you. just like in the US.

    You do realize that fractures start to knit immediately after the fracture. I had an aunt who needed her elbow re-broken because of that

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  139. Re: Same Thing by Anonymous Coward · · Score: 0

    This is precisely why medical costs are through the roof. Providers completely over reacting. Next time, give the man an ibuprofen.

  140. Re:Same Thing by Ol+Olsoc · · Score: 1

    are you a virtual slave to your employer because if you loose health insurance your self or one you love will surely die? Because thats the norm here for people approaching retirement.

    Anyone who is not willing to quit their job and move across the country to find work in a new field that maybe offers better health care coverage really just hates America. They are the problem with the US health care system! Not the insurance companies! Not the employers!

    I am not certain if you are poe-ing us or what. Here is an example that runs counter to your argument. My wife's boss has a blood clotting problem. His wife had a breast cancer issue, totally cured now.

    His health insurance company wanted to drop him badly. To the point of charging him somewhere between 30 - 40 thousand a year. He tried to get insurance elsewhere. The answer was always no.

    He was stuck. Had he been an employee, moving to another company would have left him completely unable to get insurance. Forced immobility, and at the mercy of the insurance company, and if an employee, employment

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  141. Re:Same Thing by Ol+Olsoc · · Score: 1

    In Phoenix, we had to wait 4 weeks to get an MRI scheduled (Wrist) Vs 2 Days in California (Neck) Vs 3 Days in Calgary, Canada (Neck/Upper Back)

    Given personal experience, US can be much much worse.

    Do not abuse the narrative with facts.

    I wonder how many of these free market health insurance zealots are on medicare and or medicaid?

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  142. It's all in the name by divide+overflow · · Score: 1

    What else would you expect from a company named Nostrum Laboratories?

    nostrum |nästrm|
    noun
    a medicine, especially one that is not considered effective, prepared by an unqualified person.

  143. Only in the USA (almost) by wolff000 · · Score: 3

    Almost all major world powers limit the amount drug companies are allowed to charge. This is exactly why! I don"t give a shit about freedom or capitalism when it comes to life-saving procedures and medicines. This should be illegal and no one should make a profit on suffering. People that think this is acceptable are garbage people, in my opinion.

    --
    WTF?
  144. #MAGA by Anonymous Coward · · Score: 0

    You are correct, it is morally right. #MAGA

  145. Re:Same Thing by Anonymous Coward · · Score: 0

    I'm Canadian and my mother needs a new hip. She's been unable to walk more than a few feet for 2 years while she's been waiting and is taking up handicapped spaces because at least the system recognizes the breakage inherent in it. She's due to get one next month, but only because she spent 3 months getting pissed off at various hospitals and physicians that she's on the squeaky wheel list.

    But go ahead and tell me how she's not critical because she's not dying, it's fine, quality of life doesn't count for anything here.

  146. Re:Same Thing by Ol+Olsoc · · Score: 1

    Obviously, your 'invisible hand of Supply vs Demand' isn't working in this particular Capitalist case. The problem is our perverted version of Capitalism.

    There are things that should always be driven by market forces. Cars, houses, recreational activities.

    There are some things that should never be driven by the profit motive, like health care.

    If a country's leading cause of bankruptcy is medical bills https://www.clearbankruptcy.co... at 42 percent, It is kind of obvious that there is a problem.

    And no amount of calling people commies or socialists is going to erase that figure.

    I'd even venture that this is keeping good capitalistic medical companies from getting the money they deserve.

    And having insurance often doesn't save your backside. Many bankrupt people had insurance.

    Let's face it - even if there is something wrong with single payer, it does not follow that the US system, with the highest costs, and the leading cause of bankruptcy, is anywhere near good.

    Regardless, I have made it clear in an advance directive, that if medical treatment is going to bankrupt my family, I'm going to refuse treatment and die as soon as possible, immediately if I can. Look for more of this.

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  147. Re: Same Thing by meglon · · Score: 1

    At some point you're going to have to post how you really feel, because sarcasm doesn't work well all the time in written form. Some people are going to start thinking you're actually believe what you're writing. Just saying. (it really shouldn't be that way, but in this day in agethere's a lot of incredibly stupid people out there)

    --
    Fascism: An authoritarian and nationalistic right-wing system of government and social organization. See also: NAZI's
  148. Re:Same Thing by Anonymous Coward · · Score: 0

    The question here is: would it be better for the uninsured in the US to wait a bit to get good health care from the existing system with public money, or wait til' they die or go bankrupt?

    Well, since all American's are just waiting to become Billionaire's... Once they hit their lucky break. Obviously waiting is better.

  149. Re:Or go out of business, leaving the world with n by Anonymous Coward · · Score: 0

    They were already making a 400%+ profit off the drug at the old price.

    They weren't going to go out of business, the greedy fuck just wanted a larger golden parachute.

    I say we give him his "golden" parachute, (made from gold painted lead) and shove him out into the sky with it from a loaded troop transport.
    See how long it takes for that parachute to kill him.

  150. Price controls by luis_a_espinal · · Score: 1

    Citing 'Moral Requirement To Make Money', Pharma CEO Jacks Drug Price 400%

    You know, some developed, capitalist countries do have this thing called "price controls" for things like, medicines and health-care related things.

    We need that in the Land of the Free and Home of the Brave, but nooooo, that's szhozhulusm!!!

  151. By Neruos by Anonymous Coward · · Score: 0

    This guy is a social moron.

    Moralism and Capitalism do not have a relationship.

    Moral: concerned with the principles of right and wrong behavior and the goodness or badness of human character.
    Capitalism: an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.

  152. Re:Same Thing by thegarbz · · Score: 1

    Wow they don't triage in America? It's worse than we all thought!

  153. Re: Same Thing by Anonymous Coward · · Score: 0

    Preach on brother!

    Down with these blasphemous health care providers.

  154. Re:Same Thing by Anonymous Coward · · Score: 0

    I'd argue that the American system "appears" significantly worse than many other advanced countries because our results are worse.

    And our results are worse because our overall health is much worse, due to crazy shit like the War on Fats. Now we're all fat, which gives us many more health issues, and we're generally a bit more cynical about listening to the government on things that we should, like vaccines. If our government spent decades making sure most of us had diabetes, why should we listen to them now? Why should we trust those assholes further with our health care? They sold out to the sugar industry hard in the 50s, why wouldn't they do it again?

  155. Re:Same Thing by Anonymous Coward · · Score: 0

    Who decides what is "needed"? Who decides what is a, "priority"?

    Healthcare professionals, not insurance companies.

  156. Re: Same Thing by Anonymous Coward · · Score: 0

    In a fully private system, weâ(TM)d be drinking snake oil and radium water from a wagon that would be gone in the morning.

  157. Re: Same Thing by j-beda · · Score: 1

    You don't even seem to have understood the meaning of the words even as far in as, "pros and cons."

    Yeah, my usage of the double meaning of "con" as in "disadvantage" in addition to the noun form of "an instance of deceiving or tricking someone" was a bit subtle. Good thing I didn't try to also employ "con" in the verb form and instead stuck with "scam". That sort of word-play has no place in serious discussion of societal issues.

    Also, I left it to the reader to decide how sarcastic I was being. A bit of a literary rorschach test. Very prone to confusion.

  158. Re:Same Thing by j-beda · · Score: 1

    Your doctor decides what is needed, and what is a priority.
    Co-worker went in to the Clinic for neck pain.
    They took an MRI.
    Within 30min, they had him at an ER Surgical room, going in for emergency spinal surgery.

    Good outcomes. But at some point, someone decides how much to pay doctors, where to build hospitals, and what procedures will be financed. It is important that those decisions rest with private, for-profit entities because public ones are evil because of reasons.

  159. Re:Same Thing by Anonymous Coward · · Score: 0

    Holy shit /., you really modded this AC up to 4???

    "Americans are just too uneducated and unenlightened"...

    You would get it if you weren't one of the Americans the AC was talking about.

  160. Re:Same Thing by mandark1967 · · Score: 1

    Mod Parent Up!

    Or Down.

    I'm ambivalent. Or not.

    --
    Sig Follows: "Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself." -- Mark Twain
  161. Re:Same Thing by eth1 · · Score: 1

    Yeah! We don't want a faceless government bureaucracy ultimately beholden to faceless corporate overlords to set health policy! We want all our healthcare decisions to be made by a faceless corporate bureaucracy ultimately beholden to shareholders! Clearly that is the one true path to success!

    Fixed that for you... :(

  162. Re:Same Thing by j-beda · · Score: 1

    are you a virtual slave to your employer because if you loose health insurance your self or one you love will surely die? Because thats the norm here for people approaching retirement.

    Anyone who is not willing to quit their job and move across the country to find work in a new field that maybe offers better health care coverage really just hates America. They are the problem with the US health care system! Not the insurance companies! Not the employers!

    I am not certain if you are poe-ing us or what. Here is an example that runs counter to your argument. My wife's boss has a blood clotting problem. His wife had a breast cancer issue, totally cured now.

    His health insurance company wanted to drop him badly. To the point of charging him somewhere between 30 - 40 thousand a year. He tried to get insurance elsewhere. The answer was always no.

    He was stuck. Had he been an employee, moving to another company would have left him completely unable to get insurance. Forced immobility, and at the mercy of the insurance company, and if an employee, employment

    That sucks. I really mean that.

    Clearly the result of governmental meddling in the free market. Good thing we don't have socialized medicine for all. Any attempts to increase the fraction of the population covered by the socialized medicine we do have are just an attempt by the elite to take our freedoms and ruin the country - don't fall for it.

    Just to be clear: I don't really mean that.

  163. Necessary Drug by Anonymous Coward · · Score: 0

    My 6 month-old has spina bifida. This antibiotic cocktail is a necessity to deal with the urinary conditions of her disability. I have a bottle of it in my kitchen right now. She'll be using it much of her life. It prevents sepsis and kidney failure, which used to be the highest cause of childhood mortality for those who have this condition.

    This might be only one company and only one drug. Disability is already financially back-breaking for families. If you don't stop this and call it out, it won't just be for one-off infections and those with disabilities. Are we already so strapped that we can't afford basic life-saving and off-patent medicine for people with congenital diseases that would extend their life-long productivity by 60 years?

  164. Re:Same Thing by Calydor · · Score: 1

    Your signature is a fascinating counterpoint to your post.

    --
    -=This sig has nothing to do with my comment. Move along now=-
  165. Re: Same Thing by Anonymous Coward · · Score: 0

    This coming from a man who weights 360 pounds. Think football player. LUL.

  166. Re: Same Thing by Anonymous Coward · · Score: 0

    You missed âoesocially responsibleâ or just socialist AI....

  167. Re: Same Thing by Anonymous Coward · · Score: 0

    Was she in life threatening danger? No? Did it ultimately get fixed and healed? It did? Yea thought so.

  168. Re: Same Thing by Anonymous Coward · · Score: 0

    I'm American; and my mom can't get surgery because she can't fucking afford it.

    Be glad you have a list to be on. You ungrateful fuck. If your mom lived in America she'd get the surgery done, only after a month of red tape, and then paying out of the ass for it. And that's with insurance.

  169. Re:Same Thing by j-beda · · Score: 1

    Yeah! We don't want a faceless government bureaucracy ultimately beholden to faceless corporate overlords to set health policy! We want all our healthcare decisions to be made by a faceless corporate bureaucracy ultimately beholden to shareholders! Clearly that is the one true path to success!

    Fixed that for you... :(

    Well there is that....

  170. How is that ObamaCare working??? by Anonymous Coward · · Score: 0

    This is the result of ObamaCare removing all the price controls that were legally in place for decades.

    But Obama fanatics have a hard time believing that the crown jewel of his administration is doing more harm than helping.

    Let me guess .... you also didn't know that ObamaCare will penalize any business if they provide a good medical insurance benefit to their employees.

  171. Citation needed by rsilvergun · · Score: 1

    I don't recall the ACA having anything in it that would make insurance companies pay $2800 for a $15 treatment. There are several laws that prevent the gov't from negotiating drug prices and prevent consumers from importing drugs, but those weren't part of the ACA.

    We have a _very_ efficient single payer healthcare system. Medicare. All we need to do now is expand it to everybody.

    --
    Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
    1. Re:Citation needed by ooloorie · · Score: 1

      I don't recall the ACA having anything in it that would make insurance companies pay $2800 for a $15 treatment.

      The ACA mandates prescription drug coverage and places limits on how much people have to pay for such drugs. As a result, it makes no difference to patients or doctors whether they get cheap or expensive drugs. And since insurance companies get to justify rate increases with cost increases, they don't care either.

      We have a _very_ efficient single payer healthcare system. Medicare. All we need to do now is expand it to everybody.

      Medicare/Medicaid spends $1.6 trillion dollars. For that money, a "very efficient single payer healthcare system" should cover every single American at German/Canadian/French/British rates and have money left over, yet Medicare/Medicaid only manages to cover 1/3 of the population. So, the problem with Medicare is that it is highly inefficient.

    2. Re:Citation needed by Anonymous Coward · · Score: 0

      just ignore him, he is a retard comparing different products. the expensive one is a liquid form of the drug it is a very small market for it and made for people that can't take it as a tablet or powder hence it is considerably more expensive to manufacture and supply. In the US before the price hikes even the generic form was around $500 and the non generic is around $3k, it has not now or anytime in the past 5 years been $15 or even anything under $400.

  172. Re:Same Thing by Anonymous Coward · · Score: 0

    Medical shit aside, why the fuck do you Euro-tards use a goddamned comma instead of a decimal point? It's fucking stupid. Stop it.

    19.5%
    nineteen POINT five fucking percent

    Git off mah lawn!

  173. Re: Same Thing by Anonymous Coward · · Score: 0

    Are you sure? If there was free healthcare and an official state doctor rolled into your town with a tank of Ye Publick Health Elixir, would you eagerly slurp down several ladles, because he suggested you do so? or do you think some people would avail themselves to the vast abundance of knowledge afforded by the Information Age before ingesting unknown substances

  174. Re: Patients in the USA have long waits as well by Anonymous Coward · · Score: 0

    Personal experience..

    Got a new job (with new insurance) .
    In the USA, each time you switch jobs you get a whole different insurance company and likely a different physician network. That means you have to establish a new doctor who is not familiar with your medical history. (and you have to restart your deductible - the amount you have to pay fully out of pocket until you meet a minimum, then the benefits kick in)

    I was having chest pains so I went through the insurance web site and selected a primary care physician. The physician was board certified with 20 years experience. (read popular - thanks yelp!) The next available appointment was a year out! I called the insurance and changed to another primary care provider who had available appointments (cause they were fresh out of med school). Got an appointment in the next month. Had lab tests ordered and came back two months later. Got a referral for a cardiologist 3 months later. Had more tests done and another appointment a month later. Came back and the tests were inconclusive.. more tests and another appointment a month later. Came back and had a diagnosis of myocardial infarction. Scheduled an operation.. for 3 months later. Got a stint put in one of my arteries to open it up.

    People talk about health care in the US like you can just walk in and get a surgery. That is crazy. Any non-emergency major surgery will be at least a month wait, more likely 3 months.

    Patients can go to the emergency room but they will be triaged by the urgency of their condition like in other countries.. so a broken arm could be a long wait if there are lots of deathly ill patients or a short staff on that day.. whatever.

    -I keep hearing people talk about the wait times in socialized medicine as if we don't have wait times in the US.. and that its WRONG WRONG WRONG!

  175. Re:Same Thing by Anonymous Coward · · Score: 0

    It isn't that great for the insured either. Often your insurance only covers a fraction of costs. You still end up with the decision on whether the issue is worth thr risk of taking on additional debt or waiting to see if the condition heals on it's own. This probably causes so many innecesary additional issues as people are unlikely to pursue preventative care or get early diagnosis for treatable conditions before they worsen and become untreatable.

  176. Re:Same Thing by Anonymous Coward · · Score: 0

    I feel the need to add to this.

    As a Canadian with multiple family members needing ongoing medical help of different sorts (and having gone to the emergency service 4 times in the last 2 years myself), I can assure you the numbers are nowhere near what the above poster says; at least not in the more busy areas of Ontario. My emergency wait last time was about an hour. The one before was immediate as I looked like the worst of the lot (potential head injury).

    Most clinic waits have been around 1 hour through a lot of complaining on my behalf. However, I did accompany a friend to a clinic in Virginia and had to wait a bit over an hour, so I don't think all medical help is immediate in USA.

    Multiple 'basic surgeries' in my family have happened latest at 1 month when it was not pressing, and in a few days when it was. None of us have needed an MRI.

    I've only ever paid for hospital parking fees and coffees at the hospital. And some medical supplies for my dad because I couldnt be bothered to do the paperwork for retirees for $40 worth of medication.

    Comparing to USA (where I was once billed $600 for an ambulance trip), this is WAY better for my family given the experience of the last two decades in Ontario.

  177. Re: Same Thing by Anonymous Coward · · Score: 0

    Because it wasnt addressed in time she sprouted another arm. Gruesome because now there are nearly two of her.

  178. Re: Same Thing by j-beda · · Score: 1

    At some point you're going to have to post how you really feel, because sarcasm doesn't work well all the time in written form. Some people are going to start thinking you're actually believe what you're writing. Just saying. (it really shouldn't be that way, but in this day in age there's a lot of incredibly stupid people out there)

    Well, if I don't really care what people think I think, and my goal is to influence how they think or behave, what is the most effective action?

    My experience is that saying "I disagree with you, and here is why I think you are wrong" seems to cause people to ignore everything after "I disagree with your". Today I have trying out saying "I agree with you, and here are some pretty stupid reasons why I agree that maybe point out some major flaws in your position". Maybe (wishful thinking) that will lead some to more deeply examine their positions.

    Unfortunately, I suspect that even the wildest exaggerations and most biting satire is unrecognized by a significant fraction of those that it is targeted.

    Hopefully my feeling that 99% of the world has gone down the tubes is an artifact of global communication advances and human psychology and that things were not REALLY better back in the day, but that it always feels like things used to be gooder than now.

  179. Re: Same Thing by narcc · · Score: 1

    if I don't really care what people think I think, and my goal is to influence how they think

    You must be deeply conflicted!

  180. Undoing erroneous mod by x_t0ken_407 · · Score: 1

    Hurr durr

  181. Re: Same Thing by j-beda · · Score: 1

    if I don't really care what people think I think, and my goal is to influence how they think

    You must be deeply conflicted!

    Aren't we all?

  182. Re:Same Thing by cheesybagel · · Score: 1

    e.g. someone with heart failure gets more priority than someone with a non-fatal illness basically. ever heard of triage? if you think it doesn't happen even in non-socialized systems you are sorely mistaken.

  183. Re:Same Thing by cheesybagel · · Score: 1

    In France you aren't chained to any single doctor. You can pick whichever doctor you want. Then the states pays them at rates agreed upon between the government and the medical association.

  184. Re:Same Thing by Anonymous Coward · · Score: 0

    We must assume the US system is expensive and, in essence, a slush fund to allow other countries cheaper access to various pharmaceuticals. Price gouging in the US means they don't have to charge as much in, say, Canada. Look at the proliferation of over the border pharmacies for confirmation.
    If the US were to nationalize its system, I wonder what the effect would be on worldwide drug prices. For the US consumer, probably much cheaper. For everyone else, Probably significantly more expensive.

  185. Re: Same Thing by cheesybagel · · Score: 1

    Yet if you compare the amount of money spent per outcome the results are quite clear. In the US for example infant mortality is quite high and people don't live longer than in Europe. So you aren't getting the best bang for the buck clearly. What you do get is overcharging and people getting treatments they don't need so they can be charged more. My father for example had a herniated disc. Some doctors wanted to operate him (fuse the discs). He didn't get the operation (which had a high risk of putting him on a wheelchair) and the discs calcified on their own in 3-4 years... So he no longer has any pain whatsoever.

  186. Re: Same Thing by cheesybagel · · Score: 1

    s/fuse the discs/fuse the vertebrae/

  187. Re:Same Thing by Rhipf · · Score: 1

    Funny I think I would rather wait 26hrs for a fractured arm (can't say I have ever had that kind of a wait in Canadian ER though) then having to sell my house just to pay for the hospital bill.

    So please, don't say our system is better than in the US. People are not dying in the streets up here, but when you have a condition, you better be patient. A patient patient.

    The reason we don't have people dying in the streets up here is because some of the more minor problem need to wait (its call triage). If you really aren't that patient for a non-life threatening problem you could always go to a hospital in the US (be sure to bring your credit card).

  188. Re:Same Thing by Anonymous Coward · · Score: 0

    I'd rather have a prostate exam by the invisible hand of the free market than one performed by the long arm of the government.

    (/s I want to make sure all our readers at home know that I'm kidding and also this isn't a valid argument to use on your libertarian facebook group)

  189. Moral Requirement? by Anonymous Coward · · Score: 0

    "...The amassing of wealth is one of the worse species of idolatry. No idol more debasing than the worship of money." - Andrew Carnegie

    1. Re:Moral Requirement? by Anonymous Coward · · Score: 0

      “The misery that is now upon us is but the passing of greed—the bitterness of men who fear the way of human progress.”
      – Charlie Chaplin, “The Great Dictator”

  190. logical conclusion by Anonymous Coward · · Score: 0

    If we take this to it's logical conclusion it means that we have a moral requirement to demand that the government forcefully socialize his business.
    Not what I'd like to see happen but you know the popular middle aged conservative facebook meme "Play stupid games win stupid prizes"

  191. Re:Same Thing by Ol+Olsoc · · Score: 1

    That sucks. I really mean that.

    Clearly the result of governmental meddling in the free market. Good thing we don't have socialized medicine for all. Any attempts to increase the fraction of the population covered by the socialized medicine we do have are just an attempt by the elite to take our freedoms and ruin the country - don't fall for it.

    Just to be clear: I don't really mean that.

    Roger, that. And to our proponents of the present system, even those who extol the pre Kenyan Terror baby O'Blamacare. Know this:

    When over 40 percent of bankruptcies are because the shitty citizens simply cannot pay their medical bills, that means that the upstanding citizens like Martin Shkreli and Nirmal Mulye do not get their rightful and morally needed money. How can the good right thinking citizens put up with that sin. We need to start executing these foul creatures that are not providing God's emissaries on earth the money that is their due.

    Seriously though, people who approve of people losing everything over a hospital bill nee do enjoy that experience for themselves.

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  192. Re:Same Thing by Ol+Olsoc · · Score: 1

    Your signature is a fascinating counterpoint to your post.

    Yeah, when I'm in high sarcasm mode it tends to look a little strange.

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  193. wow by Anonymous Coward · · Score: 0

    this asshole doesn't know what morals are

  194. Re: Same Thing by Anonymous Coward · · Score: 0

    Doctors do, not for-profit corps.
    They prioritize the critical conditions first, when treatment will help. So those you can wait, need to do that, or go to private clinics. This ensures best treatment for money, though mistakes can always happen.

  195. Re: Same Thing by Ol+Olsoc · · Score: 1

    Was she in life threatening danger? No? Did it ultimately get fixed and healed? It did? Yea thought so.

    She could have been put in a physical state in which she might have had to get SSI - which of course, you'd shit your pants in anger about.

    May you live to 120 and personally experience every part of the US healthcare system.

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  196. Re: Same Thing by Anonymous Coward · · Score: 0

    You insensitive clod! In our days, we paid our medical bill as soon as popped out of the wee fanny. It took everything we could ever earn, and were happy to oblige!!

  197. Cheaper in other countries by Anonymous Coward · · Score: 0

    I checked at a pharmacy I have used in the Philippines, a large chain. Under a US $ per pill.

    https://tgp.com.ph/product/nitrofurantoin-100-milligrams/

  198. typo? by Anonymous Coward · · Score: 0

    I'm sure that was a typo. He meant to say "immoral requirement"

  199. This is why Government R&D is important by Anonymous Coward · · Score: 0

    The government doesn't necessarily have a profit motive and is supposed to serve the people. If we were funding our universities and other R&D functions we could not only advance medicine but have more control over the pricing of the output.

  200. As expected by Anonymous Coward · · Score: 0

    All the ethics one associates with drug pushers...

  201. Re: Patients in the USA have long waits as well by HiThere · · Score: 1

    As you say. One (US) Memorial Day weekend (not the holiday itself) I came down with acute Cellulitis. I was vomiting and passing out, and screaming in pain in the emergency room for about 12 hours before I was seen. They were short staffed that day, as all but one of the doctors had taken off.
    This was normally a very good hospital, but not that time. Admittedly, it wasn't a life-threatening emergency...probably. I'm still not sure. I think that was the time I ended up needing a couple of weeks of home care with intravenous injections of antibiotics every few hours.

    P.S.: This happened several times before I had a doctor who traced the source of the infection to some open athlete's foot infection sores between the toes. This was cured by always wearing strips of unspun wool between my toes every day, and by drying between my toes before I added the wool. Since then it's been decades without a repeat of the problem, where it had happened nearly once a year for three or four years before that.

    --

    I think we've pushed this "anyone can grow up to be president" thing too far.
  202. Re:Same Thing by Darinbob · · Score: 1

    This happens in America too, if you're poor. Sometimes if you're middle class. And it's still damned expensive. Also remember than there is more to the world of healthcare than America and Canada. Some countries do very well with their free healthcare which leads to high health outcomes.

  203. Re:Same Thing by careysub · · Score: 1

    I am unable to confirm that 50% of the budget of Quebec goes to health and human services (a broader category than just "health care") for 2018 it is apparently $38.5 billion (Canadian of course) out of a budget of almost $110 billion, or about 35%. And however "damn expensive" it is, it is cheaper by far than the U.S.

    --
    Starships were meant to fly, Hands up and touch the sky - Nicky Minaj
  204. Re: Same Thing by Darinbob · · Score: 1

    US healthcare is essentially about fixing problems instead of preventing them. The insurance companies promote this based on what they cover and don't cover. It's a great country for healthcare if you're wealthy, though it's not very impressive if you're not. The first thing you hear at the reception desk for most doctors is "let's see what your insurance covers". An amazing number of people use the emergency room as their primary care because they can't afford insurance.

    In Finland one of my coworkers (American) had a child there, all the neonatal checkups, birth, and followup visits all free and top quality. In America, you may be told that you've already had the alloted number of doctor visits and the insurance won't pay for more, and if your baby isn't premature then you're told to move out of the room as fast as you can.

    Back in school we worked for over a year to get health insurance for grad students. The first year a baby was born with some complications and the insurer dropped ALL of us, claiming we were a bad risk. So we were left without insurance, which was a very common thing. When you make less than $20K a year a lot of students just didn't bother with health insurance and rolled the dice.

  205. Re:Same Thing by Darinbob · · Score: 1

    Before Obamacare you often could not switch insurers if you had a preexisting condition. Also those other insurance plans can often be more than you can afford. And paying out of pocket is a fantasy affordable only to the wealthy. You can't even afford the drugs out of pocket.

    The top factor in personal bankruptcies in the US come from unexpected medical expenses, either as a primary cause or a contributing factor. Medical care in the US is expensive (both before and after Obamacare). When you're living paycheck to paycheck, the deductible you have to pay on a medical bill before insurance kicks in is too much.

  206. Re: Same Thing by Darinbob · · Score: 1

    I want the insurance company that tries to prevent the high expense problems in the first case. That's rare in the US. Though I'm with a plan that does this, it's not your typical PPO or HMO. Free classes at the clinics, no cost flu shots, low co-pay so as to not discourage doctor visits, etc.

    I'd like the see the insurance company kick in some dough to get people to the gym as well, kick in dough for kicking smoking, cover 100% of the cost of medicine for chronic conditions (blood presure, diabetes), etc. It makes financial sense too for the insurers.

  207. Re:Same Thing by Darinbob · · Score: 1

    And in the US the emergency rooms are crowded. Too many people who can't afford insurance treat the emergency room as their primary care. So you will see people with the flu hanging out in the waiting room making sure everyone else gets a chance to catch it.

  208. Re:Same Thing by Anonymous Coward · · Score: 0

    Dougie will fix that for you, Not-withstanding.

  209. Read this Chart by Anonymous Coward · · Score: 0

    This chart is a little bit dated, but makes the argument for socialized health care quite clearly.

  210. Re:Same Thing by Darinbob · · Score: 1

    Quality wise, the US has some awesome hospitals and clinics - but not many of them. Sure the Mayo Clinic may be really good, but you won't be getting in there and will probably get your care at a regional county hospital that has budget problems.

  211. Re:Same Thing by Darinbob · · Score: 1

    I spent two days in a small Alabama MRI clinic while working on some other machine. Maybe 10 years ago. During that time the place was not hopping, and they could easily have doubled the number of patients that came in and still have time for a long lunch. So if there was a backlog of patients waiting then I'd have concluded that something fishy was going on. Maybe some hospital system just want to keep everything in-house rather than send out to unaffiliated clinics?

  212. Re:Same Thing by j-beda · · Score: 1

    When over 40 percent of bankruptcies are because the shitty citizens simply cannot pay their medical bills, that means that the upstanding citizens like Martin Shkreli and Nirmal Mulye do not get their rightful and morally needed money. How can the good right thinking citizens put up with that sin. We need to start executing these foul creatures that are not providing God's emissaries on earth the money that is their due.

    I think the fix for that is to put medical bills in the same category as student loans so they are difficult to discharge via personal bankruptcy. We don't want people running up their medical debt just so they can get it discharged via bankruptcy!

    Socialize the risk, privatize the profits, that's the American way!

  213. Re:Same Thing by Darinbob · · Score: 1

    However if government gets too small that capitalism will quickly break down. People who advocate for smaller government need to specify how small it should be. I suspect many of them would prefer no government.

    For me, it's not the size of the government that matters as much as the quality. In other words, do you get a return on investment from your taxes? In America, despite have low taxes we certainly gripe loudly about them, and I think that's because we just don't see much benefit coming back the other way.

  214. Re:Same Thing by j-beda · · Score: 1

    We don't want a faceless government bureaucracy ultimately beholden to elected officials to set health policy! We want all our healthcare decisions to be made by a faceless corporate bureaucracy ultimately beholden to shareholders! Clearly that is the one true path to success!

    False dilemmas aside, in a private system your healthcare decisions are not made by a faceless corporate bureaucracy. You can switch insurers, or pay out of pocket to go to another doctor. When the whole country is one system you have neither of those choices. You are literally forced to accept the fate handed to you by a single bureaucracy.

    Every "single payer" system I am aware of does allow one to pay for items that are not universally covered (dental in Canada for example) items out-of-pocket. In any case, while the ability to "switch providers" would be good in theory, in practice it seems to be fairly uncommon. The point at which one needs to make these types of decisions are exactly the times at which one is least able to make them.

  215. Re:Same Thing by j-beda · · Score: 1

    I do worry that my above comments have been labeled "insightful". One never knows if one's message is being read as intended...

  216. Re:Same Thing by Darinbob · · Score: 1

    But the market doesn't operate as the advertised when the preconditions don't apply. This is a medicine that some people need, it's a matter of life and death. And they're not paying for it out of pocket most of the time, hopefully insurance covers most of the cost. So there's no incentive to just stop using the medicine. Also there's not a clear and open market because the customer has limited information - doctors often do not provide a choice to the patient of a cheap versus expensive drug that do the same thing, and thus the patient does not know that there are alternatives.

    There are no real market forces at work in this situation. This is not like seeing a loaf of bread priced at $100 and deciding to go to another store or just not eat bread at all.

    Capitalism certainly allows for regulation, that's not a socialist thing it's a necessity for any system of government. Even the patron saint of free market economics, Adam Smith, believed that regulation was necessary. The political factor at work here is how much the government is beholden to corporate interests versus interests of the citizens.

  217. Re:Same Thing by Darinbob · · Score: 1

    Some people do push back on that figure and the statistics behind them. However I think that why they may have good points that they are also overreaching.

    The number of bankruptcies is not always solely due to the medical bills alone. However the medical bills certainly do occur as a major factor even if not the only factor. In many bankruptcies you cannot point to a single cause. So a family may be on the edge and already deep in dept, and then the medical bills go and exacerbate the problems to unmanageable levels; or it could be the other way around so that the medical bill caused the initial debt which was compounded by predatory interest rates.

    But because this statistic showed up as support for Obamacare, it means those opposed to Obamacare wanted to attack the evidence (despite the irony of the same people probably bitching about rising healthcare costs before Obamacare. since literally no one thought healthcare costs were reasonable).

  218. Re:Same Thing by sydbarrett74 · · Score: 1

    You can switch insurers

    You mean the same way we can 'vote with our feet and dollars' and switch broadband providers? Even before ACA, there were usually only a couple of insurers in any given area. Choosing between duopolists isn't much of a choice.

    --
    'He who has to break a thing to find out what it is, has left the path of wisdom.' -- Gandalf to Saruman
  219. American here by rsilvergun · · Score: 1

    I've had those experiences here in the states just the same. The only upside to America is that when I wanted a couple bumps on my head removed I had it done immediately. But for anything that was complicated or needed a specialist I had to wait. I had heart palps that made me feel like I was having mini heart attacks and I had to wait 3 weeks to get in to see a specialist. I never did see the specialist, just his Nurse practitioner. That cost me $800 bucks out of pocket, and I had some of the best insurance you can get.

    --
    Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
  220. 20 year long patents are immoral by Anonymous Coward · · Score: 0

    Raising prices of drugs is totally lawful. The problem is with the law itself. While technology is changing fast, it is ridiculous to have 2 decade worth of patents!

    PS: Unable to log on to SD using Google account due to some glitch in the web page itself.

  221. Re: Same Thing by Anonymous Coward · · Score: 0

    Not at all. A statalized health care system is not mutually exclusive with a private health care system, f you do not fancy the care provided you can always switch to a private clinic and pay with your pockets. But if you cannot pay you will be glad to receive the (little? Bad?) care that public system can provide.

  222. considering the number that voted Trumpy by Anonymous Coward · · Score: 0

    You all pretty much decided this is a good plan.

    You all seem to believe that your all going to be winners, so screw everybody else...

    None of you think you might be the loser, until reality knocks your teeth out...

  223. Re:Same Thing by Anonymous Coward · · Score: 0

    I waited over a year to have an abnormal tumor removed from my spine, in Mississauga Ontario.

    Luckily, it wasn't malignant. If it was, it would have been way too late.

  224. Patents don't explain Daraprim and EpiPen by tepples · · Score: 1

    Not only that, but the reason they're effectively a monopoly is because of patents-- which is already a form of government regulation.

    Patent law isn't the only regulation that boosts drug prices, nor is it necessarily even the strongest among them. Drugs like pyrimethamine and epinephine have seen drastic price increases in the United States market decades after the patent had expired.

    1. Re:Patents don't explain Daraprim and EpiPen by nine-times · · Score: 1

      My point is that it's nonsense to complain that the government should stay out of regulate the pharmaceutical industry because the "free market" will sort things out. Since the industry relies so heavily on patents and trademarks, it's inherently a non-free market already, due to government intervention. That's before we even start talking about the FDA.

  225. Re:Same Thing by drewlake2000 · · Score: 1

    Not true, here in the UK if you want to pay the cash you can either go private or go to another country.

  226. Re:Same Thing by Ol+Olsoc · · Score: 1

    Some people do push back on that figure and the statistics behind them. However I think that why they may have good points that they are also overreaching.

    I did see different numbers, so yes, there is that.

    But bankruptcy aside, there are issues.

    Some people do not believe that single payer is at all an option. Most of the people I know of that bent do not want to pay higher taxes.

    Then again, what is spiraling insurance rates but a tax? Even if you say it isn't, the money is gone. I spend at least as much on healthcare insurance as I do on Taxes. Funny how the people who shit their pants over any tax, make cricket noises about that little thing.

    Some will say Government is corrupt. I say people are corrupt. Doesn't matter where you put corrupt people.Private industry is showing us that every day.

    But because this statistic showed up as support for Obamacare, it means those opposed to Obamacare wanted to attack the evidence (despite the irony of the same people probably bitching about rising healthcare costs before Obamacare. since literally no one thought healthcare costs were reasonable).

    I never took a poll, but my acquaintances who are dead set against socialized medicine are the recipients of socialized medicine. The meme of "Keep your filthy government hands off my Medicare" is their exact attitude. But they don't think they are having the government pay for them. Or if they understand that, mot think that everyone but them is mooching off the system. Well, maybe not their buddy down at the Legion - but yeah - everyone else.

    "This American Life" did a great piece on dissecting the US Healthcare conundrum.

    People too poor to get healthcare would use emergency rooms - the most expensive medical service on the planet.

    Of course, they were too poor to pay

    But there is that bill. Hospitals distribute that bill among the customers who do pay.

    Health insurance rates go up because the bills have gone up.

    Employers drop insuring employees. Many of these uninsured employees find the Emergency room healthcare route. They likewise can't afford to pay the bill. Hospitals re-distribute the costs again. Insurance rates go up again. Less people are insured. Emergency rooms again.

    A classic positive feedback loop. This ship was taking on water, and listing bad.

    O'BlamaCare, or better named Romneycare isn't all that hot. But it is a start. The problem is that before the Insurance system was going to collapse, there was a large amount of dollars to fight over. So fight we did.

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  227. The first rule of Evil is: by Anonymous Coward · · Score: 0

    Don't give off the stench of evil. The whole point of corporations is that they stink to heaven without any individual to blame. Reeking of evil for a CEO is as unprofessional as a gun salesman with bloody knuckles.

  228. I appreciate the .....honesty? by Daralantan · · Score: 1

    I mean I guess it's not honest to say it's a "moral requirement".... But at least he named the actual reason - profit. Perhaps he should have made a lie that sounded more "feel good" (even though we'd still know it was BS. Instead of : "More requirement to make money," he should reword it as "Moral requirement to pay those involved in the research, production, and distribution costs." We'd know it was BS.... But at least it'd be an attempt at PR that might fool a few people?

    We'd lose this hilarious quote though, so he probably made the better choice.

  229. Re:Same Thing by Ol+Olsoc · · Score: 1

    Not true, here in the UK if you want to pay the cash you can either go private or go to another country.

    Not certain who you are replying to. Some quotes would help.

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  230. Re: Same Thing by Anonymous Coward · · Score: 0

    I guess you are also signalvirtue as well. People do precisely that in every other country as well, or are you choosing to ignore that the UK has higher obesity rates than the US does now? And that France is sprinting to catch up?

  231. Soulless Pharma CEO ... by Anonymous Coward · · Score: 0

    I cast a spell for blood to run from every one of your orifices till you are completely drained!

  232. Love of Money is the Root of all Evil by Anonymous Coward · · Score: 0

    The love of money is the root of all evil!

  233. American 'Christianity' at work by Anonymous Coward · · Score: 0

    America 'Christianity' is really quite bizarre.

    I wonder what Christ thinks of it.

  234. Re: Same Thing by Anonymous Coward · · Score: 0

    upvote

  235. Re:Same Thing by Darinbob · · Score: 1

    If you really want to see something corrupt it's a government contractor. Private corporation working for the government. There are so many levels of "I just don't care" going on there with so little accountability, all mixed in with a big profit motive to. And all these small-government types are all for outsourcing important government jobs to private contractors so that there is actually higher cost, more corruption, worse outcomes.

  236. Thanks a lot, Milton Friedman by Anonymous Coward · · Score: 0

    For this

  237. Re:Same Thing by Ol+Olsoc · · Score: 1

    If you really want to see something corrupt it's a government contractor. Private corporation working for the government. There are so many levels of "I just don't care" going on there with so little accountability, all mixed in with a big profit motive to. And all these small-government types are all for outsourcing important government jobs to private contractors so that there is actually higher cost, more corruption, worse outcomes.

    And don't forget, The winner of the US-Iraq war was Halliburton. Which just happened to be really closely related to Darth Cheney. So there you have a political figure who is all about privatization.

    The whole Private market uber alles crowd is fueled by those who stand to make incredible profit, and useful idiots who have been trained in Government is the enemy doctrine.

    Any group, public or private sector can become corrupt. But that is related to people, not the private or public of it.

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  238. Re:Same Thing by dryeo · · Score: 1

    It's the same in Canada, the patient picks a Doctor and the Doctor bills the Province.
    We also actually have over a dozen medical systems as it is a Provincial matter with the feds legislating mimimums

    --
    https://en.wikipedia.org/wiki/Inverted_totalitarianism
  239. Re:Same Thing by dryeo · · Score: 1

    Most non-Canadians (and lots of Canadians) don't understand that we have over a dozen healthcare systems, each Province and Territory runs their own healthcare system with the feds setting minimum standards. So each Province is different.

    --
    https://en.wikipedia.org/wiki/Inverted_totalitarianism
  240. Re:Same Thing by dryeo · · Score: 1

    Each Province is different here as healthcare is a Provincial responsibility. The federal government sets minimum standards and also does some equalization payments so the rich Provinces help the poor ones.

    --
    https://en.wikipedia.org/wiki/Inverted_totalitarianism
  241. Criminal. What's the difference... by martinfb · · Score: 1

    Criminal. What's the difference between ransomware and holding a cure for unreasonable prices and a loan shark?

    Or, for that matter, holding a hostage captive for a large sum of cash?

    Not much difference, if any.
    You are still doomed to (damnation) unless you can find the cash to pay!

    Also, a bit like terrorism!

    --


    Self-importance and self-indulgence is the root of ALL evil.
  242. This will lead to nationalizing drug companies by Mister+Null · · Score: 1

    His greed is too naked and therefore will lead to the nationalization of his drug company. He might have the factory but we have the votes.

  243. And check which caste is looting India? by NewYork · · Score: 1
  244. Why not.... by Anonymous Coward · · Score: 0

    If it's a moral requirement, why not hike the price to 10K, 20K or even 50K each. - See what the market will bear.

    It's also probably a moral requirement to gouge this insufferable jerk for several millions for his health insurance.

  245. If this is truly the moral of today's ceo's by Baki · · Score: 1

    Then it is time to take certain sectors out of the commercial realm. Clearly the market is dysfunctional here. Healthcare should not be commercial. States should find innovation just like much of high energy physics is not commercially funded. Mere production, free of intellectual property, can be left to the industry.

  246. Re: Same Thing by Aighearach · · Score: 1

    There is nothing subtle about misunderstanding people.

    When you're speaking, you can choose misleading words and that is a matter of style. When somebody else is speaking, and you're replying, and they used a normal meaning of the word, then in that situation when you choose a different meaning of the word you might as well keep your joke private, because intentionally misunderstanding is just being stupid. The other person can't have missed anything in your words, because they're the one who already chose the meaning of their words. And you're using a different meaning, while purportedly attempting a reply.

    People who misunderstand other, intentionally or not, are not being "sarcastic," they're being dumb-asses. It isn't like a Rorschach Test because it is prone to confusion, it is like that in that you'll spew out a response based on your own internal mechanisms without even being conscious of any connection, or lack of connection, between your own thoughts and the ideas you're purporting to respond to. In fact, we can learn just how stupid and aliterate you are by your response, we don't really even need whatever the original idea was. Because you didn't succeed in engaging it.

  247. Re: Same Thing by j-beda · · Score: 1

    Well, I guess your response clearly demonstrates that my meaning was unclear. My apologies for not being more literate. I have been suitably chastised by your demonstration of my failings. Thank you.

    You clearly are interested in my comments, so I will try to make them more explicit.

    I feel that while a single-payer, socialized system of delivering healthcare to the entire population is a worthy goal, I accept that there are difficulties and negative consequences to probably any conceivable system of that type. However, I feel that it is possible to minimize those downsides when compared to the negatives associated with the current way healthcare is funded and delivered in the USA. I also recognize that aspects of the current way healthcare is funded and delivered in the USA have many positive features, some of which may be difficult or impossible to replicate in a single-payer, socialized system of delivering healthcare to the entire population. The fact that the USA is virtually alone among G20 nations (G30? G50?) in not having some form of "universal" health care, would seem to indicate that such systems are not impossible.

    I am sorry to have sewn confusion in my off-the-cuff response to a such a clear analysis of the "pros and cons" of Canada's health care system, as embodied by the AC's statement:

    "Please, do not introduce logic to this thread...it in will not be tolerated. You should also be ashamed for pointing out the cons of socialized medicine...only the pros should be so smokey the emphasized...there must be some..."

    I guess I was just "so smokey the emphasized". I hang my head in shame.