Imagine your life saving medicine that you take every day gets marked up in price %5000 overnight for the only reason that a greedy millionaire Martin Shkreli thought needs more money. this is what happened to the pill daraprim that people with weakened immune systems such as aids patients need. the pills were originally $13.50 per pill but are now $750 a pill, put in simple terms most of the american population won’t be able to afford their vital medication overnight.
Andy manning is an unfortunate example, he had a run in with a girl when he was only 20. 5 years later he is diagnosed with aids earning only minimum wage and unable to have health insurance he had to pay for diaprim himself. before the price change he could scrape by, but now he left in the dark and now the future doesn’t look bright for him.
now who is this wretched man martin shkreli? he is an investor and the founder and CEO of turing pharmaceuticals and in september of 2015 he made the executive decision to purchase the manufacturing rights for the anti parasitic drug Daraprim after seeing that he could take advantage of the poor victims that are dependent on these drugs.
but Martin shkreli and his wonder drug isn’t the only one rising the prices of his pharmaceuticals the prices of drugs have increased over all. the drug deflazacort a steroid that is used to help kids with a condition called Duchenne muscular Dystrophy the Canadian price for this drug is from $2000-$3000 and is now $89,000 and again before that AMAG released a drug called Makena with the price of $1,500 used to prevent preterm birth and even though a similar drug that works exactly the same for $20 and can be brought on any corner drug store it worked AMAG pharmacies are now booking $93 million in the third quarter of last year and then the price of epipens increased by %580 meaning that people with life threatening allergy can’t afford the tools that will keep them alive
why does this keep happening? well in diaprims case its because it gets benefits of the laws that congress passed to encourage drug companies to research and cure new sickness the legal benefits are that you get 7 year monopoly with the orphan drug Act and you get a voucher that gives you priority in the drug review process. this a process every new pharmaceutical goes through before it can be used by the american population. so as you can imagine these are pretty valuable
the problem with all these issues is that it’s not OK the pricing is crazy, yes the Turing company should add extra cost to the price of their drug for the research and development costs but even $50,000 a year per patent is far-fetched and those priority tickets could be worth hundreds of thousands. so how do we fix it?
first of all stop patient assistance co pay cards these cards are given to customers to reduce out-of-pocket expenses which sounds like a good thing but really its just to get people to buy the higher cost branded drugs.
then stop the pay to delay procedures when a drugs patent is about to run out the drug company pays competitive company’s to not make a generic version drug that will caust less so they can continue to charge the outrages price for the drugs.
then ban direct to consumer advertising. DCA as its more commonly referred too is pharmaceutical advertisements on the media professionals are against them because they falsify the effects of there drugs with “blue sky and old people suddenly having the ability to jump around did you know that drug company’s spend almost as much as they do on research and development? they do this because it works. even the american medical association support banning DCA’s
so in conclusion i have layed out the issues and and how to solve them.