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Gilead announces pricing for COVID-19 drug remdesivir
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georgia_tech_swagger Offline
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Post: #1
Gilead announces pricing for COVID-19 drug remdesivir
How much do you think it costs for your COVID-19 equivalent of a z-pack?

$3,120. For a one week supply. If you have great private insurance.

What about those without health insurance you ask? Gilead's CEO claims that's covered by the CARES Act. Assuming he's right that's a pretty gross market distortion socking it to everybody who responsibly keeps health insurance. Assuming he's wrong that's just as gross for different reasons.

It gets better .... your tax dollars helped develop the drug.
(This post was last modified: 06-29-2020 10:21 AM by georgia_tech_swagger.)
06-29-2020 10:03 AM
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stinkfist Online
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Post: #2
RE: Gilead announces pricing for COVID-19 drug remdesivir
not muh tax $$$...
06-29-2020 10:24 AM
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TigerBlue4Ever Offline
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Post: #3
RE: Gilead announces pricing for COVID-19 drug remdesivir
Legalized robbery. I wonder which politician(s) also financially benefit from this.
06-29-2020 10:31 AM
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TigersOhMy Online
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Post: #4
RE: Gilead announces pricing for COVID-19 drug remdesivir
(06-29-2020 10:03 AM)georgia_tech_swagger Wrote:  How much do you think it costs for your COVID-19 equivalent of a z-pack?

$3,120. For a one week supply. If you have great private insurance.

What about those without health insurance you ask? Gilead's CEO claims that's covered by the CARES Act. Assuming he's right that's a pretty gross market distortion socking it to everybody who responsibly keeps health insurance. Assuming he's wrong that's just as gross for different reasons.

It gets better .... your tax dollars helped develop the drug.

hmmm lets see, the miracle drug costs $3100...the alternative that doctors have been using successfully but the FDA pulled costs pennies.


Cmon people.
06-29-2020 10:35 AM
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SuperFlyBCat Offline
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Post: #5
RE: Gilead announces pricing for COVID-19 drug remdesivir
Will other vaccines be "allowed"?
06-29-2020 10:44 AM
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GrayBeard Offline
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Post: #6
RE: Gilead announces pricing for COVID-19 drug remdesivir
This isn't a vaccine, but a treatment...correct?
06-29-2020 10:45 AM
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JDTulane Offline
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Post: #7
RE: Gilead announces pricing for COVID-19 drug remdesivir
(06-29-2020 10:45 AM)GrayBeard Wrote:  This isn't a vaccine, but a treatment...correct?

Not vaccine.
06-29-2020 10:49 AM
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SuperFlyBCat Offline
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Post: #8
RE: Gilead announces pricing for COVID-19 drug remdesivir
Remdesivir doesn’t cure coronavirus. But the experimental drug, which may speed up recovery from a COVID-19 infection, is currently the best treatment we have against a virus that’s on a global rampage. https://www.discovermagazine.com/health/...oronavirus
06-29-2020 10:56 AM
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b0ndsj0ns Offline
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Post: #9
RE: Gilead announces pricing for COVID-19 drug remdesivir
(06-29-2020 10:03 AM)georgia_tech_swagger Wrote:  How much do you think it costs for your COVID-19 equivalent of a z-pack?

$3,120. For a one week supply. If you have great private insurance.

What about those without health insurance you ask? Gilead's CEO claims that's covered by the CARES Act. Assuming he's right that's a pretty gross market distortion socking it to everybody who responsibly keeps health insurance. Assuming he's wrong that's just as gross for different reasons.

It gets better .... your tax dollars helped develop the drug.

Are you stunned that the Pharma industry might be the most gross and exploitative business on earth? Tax dollars help develop a bunch of drugs. These companies con you into believing they are doing the majority of R&D but much of it is done by government and university scientist and then they jump in later in the process.
06-29-2020 11:37 AM
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GrayBeard Offline
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Post: #10
RE: Gilead announces pricing for COVID-19 drug remdesivir
(06-29-2020 11:37 AM)b0ndsj0ns Wrote:  
(06-29-2020 10:03 AM)georgia_tech_swagger Wrote:  How much do you think it costs for your COVID-19 equivalent of a z-pack?

$3,120. For a one week supply. If you have great private insurance.

What about those without health insurance you ask? Gilead's CEO claims that's covered by the CARES Act. Assuming he's right that's a pretty gross market distortion socking it to everybody who responsibly keeps health insurance. Assuming he's wrong that's just as gross for different reasons.

It gets better .... your tax dollars helped develop the drug.

Are you stunned that the Pharma industry might be the most gross and exploitative business on earth? Tax dollars help develop a bunch of drugs. These companies con you into believing they are doing the majority of R&D but much of it is done by government and university scientist and then they jump in later in the process.

I don't know...the entire medical field is grossly exploitative.
06-29-2020 11:39 AM
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Owl 69/70/75 Offline
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Post: #11
RE: Gilead announces pricing for COVID-19 drug remdesivir
(06-29-2020 11:37 AM)b0ndsj0ns Wrote:  
(06-29-2020 10:03 AM)georgia_tech_swagger Wrote:  How much do you think it costs for your COVID-19 equivalent of a z-pack?
$3,120. For a one week supply. If you have great private insurance.
What about those without health insurance you ask? Gilead's CEO claims that's covered by the CARES Act. Assuming he's right that's a pretty gross market distortion socking it to everybody who responsibly keeps health insurance. Assuming he's wrong that's just as gross for different reasons.
It gets better .... your tax dollars helped develop the drug.
Are you stunned that the Pharma industry might be the most gross and exploitative business on earth? Tax dollars help develop a bunch of drugs. These companies con you into believing they are doing the majority of R&D but much of it is done by government and university scientist and then they jump in later in the process.

When you start the FDA process to get a new drug approved, you can be looking at spending $100 million to get all the way through, with about a 1% chance of success from the start. Now obviously, lots of the 99% get eliminated early, before they have spent anything close to $100MM. But that's potentially what you're looking at.

Is every bit of that process necessary to protect us? Maybe, maybe not. The FDA built their empire by being right on thalidomide, but not every new drug is thalidomide.

As for the real impact, ask yourself one question. Who can afford to risk $100MM on a 1% chance? Not the guy in the hospital or university or private lab who invented it, obviously. But Big Pharma can. So they buy the rights for some kind of licensing deal, and then decide what to do with it. And that's how they maintain their empire. Monopolists and oligopolists love barriers to entry. They can't maintain their positions without them. And it's hard to imagine a higher barrier to entry than $100MM for a 1% chance of success.
(This post was last modified: 06-29-2020 12:05 PM by Owl 69/70/75.)
06-29-2020 12:04 PM
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b0ndsj0ns Offline
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Post: #12
RE: Gilead announces pricing for COVID-19 drug remdesivir
(06-29-2020 12:04 PM)Owl 69/70/75 Wrote:  
(06-29-2020 11:37 AM)b0ndsj0ns Wrote:  
(06-29-2020 10:03 AM)georgia_tech_swagger Wrote:  How much do you think it costs for your COVID-19 equivalent of a z-pack?
$3,120. For a one week supply. If you have great private insurance.
What about those without health insurance you ask? Gilead's CEO claims that's covered by the CARES Act. Assuming he's right that's a pretty gross market distortion socking it to everybody who responsibly keeps health insurance. Assuming he's wrong that's just as gross for different reasons.
It gets better .... your tax dollars helped develop the drug.
Are you stunned that the Pharma industry might be the most gross and exploitative business on earth? Tax dollars help develop a bunch of drugs. These companies con you into believing they are doing the majority of R&D but much of it is done by government and university scientist and then they jump in later in the process.

When you start the FDA process to get a new drug approved, you can be looking at spending $100 million to get all the way through, with about a 1% chance of success from the start. Now obviously, lots of the 99% get eliminated early, before they have spent anything close to $100MM. But that's potentially what you're looking at.

Is every bit of that process necessary to protect us? Maybe, maybe not. The FDA built their empire by being right on thalidomide, but not every new drug is thalidomide.

As for the real impact, ask yourself one question. Who can afford to risk $100MM on a 1% chance? Not the guy in the hospital or university or private lab who invented it, obviously. But Big Pharma can. So they buy the rights for some kind of licensing deal, and then decide what to do with it. And that's how they maintain their empire. Monopolists and oligopolists love barriers to entry. They can't maintain their positions without them. And it's hard to imagine a higher barrier to entry than $100MM for a 1% chance of success.

It's why I defend free market capitalism in industries with robust competition and low barriers to entry. Even if you eliminated every single regulation there would still be no such thing as "mom and pop" pharma companies. There are always going to be certain industries with barriers to entry that will always be too high for real competition to occur.
06-29-2020 12:13 PM
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Post: #13
RE: Gilead announces pricing for COVID-19 drug remdesivir
Read this when you have Time. CV-19 Test.

https://uncoverdc.com/2020/04/07/was-the...t-a-virus/
06-29-2020 12:15 PM
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SuperFlyBCat Offline
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Post: #14
RE: Gilead announces pricing for COVID-19 drug remdesivir
(06-29-2020 12:04 PM)Owl 69/70/75 Wrote:  
(06-29-2020 11:37 AM)b0ndsj0ns Wrote:  
(06-29-2020 10:03 AM)georgia_tech_swagger Wrote:  How much do you think it costs for your COVID-19 equivalent of a z-pack?
$3,120. For a one week supply. If you have great private insurance.
What about those without health insurance you ask? Gilead's CEO claims that's covered by the CARES Act. Assuming he's right that's a pretty gross market distortion socking it to everybody who responsibly keeps health insurance. Assuming he's wrong that's just as gross for different reasons.
It gets better .... your tax dollars helped develop the drug.
Are you stunned that the Pharma industry might be the most gross and exploitative business on earth? Tax dollars help develop a bunch of drugs. These companies con you into believing they are doing the majority of R&D but much of it is done by government and university scientist and then they jump in later in the process.

When you start the FDA process to get a new drug approved, you can be looking at spending $100 million to get all the way through, with about a 1% chance of success from the start. Now obviously, lots of the 99% get eliminated early, before they have spent anything close to $100MM. But that's potentially what you're looking at.

Is every bit of that process necessary to protect us? Maybe, maybe not. The FDA built their empire by being right on thalidomide, but not every new drug is thalidomide.

As for the real impact, ask yourself one question. Who can afford to risk $100MM on a 1% chance? Not the guy in the hospital or university or private lab who invented it, obviously. But Big Pharma can. So they buy the rights for some kind of licensing deal, and then decide what to do with it. And that's how they maintain their empire. Monopolists and oligopolists love barriers to entry. They can't maintain their positions without them. And it's hard to imagine a higher barrier to entry than $100MM for a 1% chance of success.
Remdesivir already existed. They tried it for Ebola, and it didn't work but showed promise for SRAS and MERS.
06-29-2020 12:16 PM
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olliebaba Online
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RE: Gilead announces pricing for COVID-19 drug remdesivir
...and guess what our highly paid doctors will prescribe instead of the cheaper Hydrox...? It's a well oiled machine between the doctors and pharma. Those two could teach Mexican police in how to bribe. It's a little like Bite'ems Quid Pro Quo.
06-29-2020 12:29 PM
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vandiver49 Offline
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RE: Gilead announces pricing for COVID-19 drug remdesivir
(06-29-2020 12:13 PM)b0ndsj0ns Wrote:  
(06-29-2020 12:04 PM)Owl 69/70/75 Wrote:  
(06-29-2020 11:37 AM)b0ndsj0ns Wrote:  
(06-29-2020 10:03 AM)georgia_tech_swagger Wrote:  How much do you think it costs for your COVID-19 equivalent of a z-pack?
$3,120. For a one week supply. If you have great private insurance.
What about those without health insurance you ask? Gilead's CEO claims that's covered by the CARES Act. Assuming he's right that's a pretty gross market distortion socking it to everybody who responsibly keeps health insurance. Assuming he's wrong that's just as gross for different reasons.
It gets better .... your tax dollars helped develop the drug.
Are you stunned that the Pharma industry might be the most gross and exploitative business on earth? Tax dollars help develop a bunch of drugs. These companies con you into believing they are doing the majority of R&D but much of it is done by government and university scientist and then they jump in later in the process.

When you start the FDA process to get a new drug approved, you can be looking at spending $100 million to get all the way through, with about a 1% chance of success from the start. Now obviously, lots of the 99% get eliminated early, before they have spent anything close to $100MM. But that's potentially what you're looking at.

Is every bit of that process necessary to protect us? Maybe, maybe not. The FDA built their empire by being right on thalidomide, but not every new drug is thalidomide.

As for the real impact, ask yourself one question. Who can afford to risk $100MM on a 1% chance? Not the guy in the hospital or university or private lab who invented it, obviously. But Big Pharma can. So they buy the rights for some kind of licensing deal, and then decide what to do with it. And that's how they maintain their empire. Monopolists and oligopolists love barriers to entry. They can't maintain their positions without them. And it's hard to imagine a higher barrier to entry than $100MM for a 1% chance of success.

It's why I defend free market capitalism in industries with robust competition and low barriers to entry. Even if you eliminated every single regulation there would still be no such thing as "mom and pop" pharma companies. There are always going to be certain industries with barriers to entry that will always be too high for real competition to occur.

As much as I hate the idea, I feel that any business that tend towards monopoly might as well be run by the gov’t. I think that would be better than relationships that Lockheed Martin and Boeing currently enjoy.
06-29-2020 04:56 PM
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Post: #17
Gilead announces pricing for COVID-19 drug remdesivir
(06-29-2020 12:15 PM)Redbanksdog Wrote:  Read this when you have Time. CV-19 Test.

https://uncoverdc.com/2020/04/07/was-the...t-a-virus/


Day-umm

I got through about 1/2-2/3rds of that.

Very interesting, and damming, but sheeesh. That girl can write!

Was that an article or a manifesto? I think I got it, did I miss anything further in that last 4000 words?

I get bored with my own posts after about 4 sentences, she musta crushed an entire pot of coffee on that thing.

Thanks for posting, though. Kinda speaks to a LOT of crap I think many of us have already suspected.

But have been shamed/shunned in to silence...
06-30-2020 06:59 AM
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b0ndsj0ns Offline
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Post: #18
RE: Gilead announces pricing for COVID-19 drug remdesivir
(06-29-2020 04:56 PM)vandiver49 Wrote:  
(06-29-2020 12:13 PM)b0ndsj0ns Wrote:  
(06-29-2020 12:04 PM)Owl 69/70/75 Wrote:  
(06-29-2020 11:37 AM)b0ndsj0ns Wrote:  
(06-29-2020 10:03 AM)georgia_tech_swagger Wrote:  How much do you think it costs for your COVID-19 equivalent of a z-pack?
$3,120. For a one week supply. If you have great private insurance.
What about those without health insurance you ask? Gilead's CEO claims that's covered by the CARES Act. Assuming he's right that's a pretty gross market distortion socking it to everybody who responsibly keeps health insurance. Assuming he's wrong that's just as gross for different reasons.
It gets better .... your tax dollars helped develop the drug.
Are you stunned that the Pharma industry might be the most gross and exploitative business on earth? Tax dollars help develop a bunch of drugs. These companies con you into believing they are doing the majority of R&D but much of it is done by government and university scientist and then they jump in later in the process.

When you start the FDA process to get a new drug approved, you can be looking at spending $100 million to get all the way through, with about a 1% chance of success from the start. Now obviously, lots of the 99% get eliminated early, before they have spent anything close to $100MM. But that's potentially what you're looking at.

Is every bit of that process necessary to protect us? Maybe, maybe not. The FDA built their empire by being right on thalidomide, but not every new drug is thalidomide.

As for the real impact, ask yourself one question. Who can afford to risk $100MM on a 1% chance? Not the guy in the hospital or university or private lab who invented it, obviously. But Big Pharma can. So they buy the rights for some kind of licensing deal, and then decide what to do with it. And that's how they maintain their empire. Monopolists and oligopolists love barriers to entry. They can't maintain their positions without them. And it's hard to imagine a higher barrier to entry than $100MM for a 1% chance of success.

It's why I defend free market capitalism in industries with robust competition and low barriers to entry. Even if you eliminated every single regulation there would still be no such thing as "mom and pop" pharma companies. There are always going to be certain industries with barriers to entry that will always be too high for real competition to occur.

As much as I hate the idea, I feel that any business that tend towards monopoly might as well be run by the gov’t. I think that would be better than relationships that Lockheed Martin and Boeing currently enjoy.

Competition and pure free markets are a good thing for consumers. However, there are always going to be industries that have massive barriers to entry that pretty much eliminate new entries into the market and an incentive for the few companies in those industries to either merge or work together to keep prices high/raise prices. This is where pharma is, and they actually like all the regulations because it ensures no one else can even afford to consider entering the market, but even without them the big players in this industry are so huge they can just swallow them up.

The relationship with Boeing is just stupid. The government has basically subsidized their losses and screw ups, but gets none of the upside benefit.
(This post was last modified: 06-30-2020 08:00 AM by b0ndsj0ns.)
06-30-2020 07:58 AM
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Redbanksdog Online
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Post: #19
RE: Gilead announces pricing for COVID-19 drug remdesivir
(06-30-2020 06:59 AM)JMUDunk Wrote:  
(06-29-2020 12:15 PM)Redbanksdog Wrote:  Read this when you have Time. CV-19 Test.

https://uncoverdc.com/2020/04/07/was-the...t-a-virus/


Day-umm

I got through about 1/2-2/3rds of that.

Very interesting, and damming, but sheeesh. That girl can write!

Was that an article or a manifesto? I think I got it, did I miss anything further in that last 4000 words?

I get bored with my own posts after about 4 sentences, she musta crushed an entire pot of coffee on that thing.

Thanks for posting, though. Kinda speaks to a LOT of crap I think many of us have already suspected.

But have been shamed/shunned in to silence...

What I came away with in the article, is the way they can set the parameters in the Test to come up with different results.
06-30-2020 10:13 AM
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JDTulane Offline
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Post: #20
RE: Gilead announces pricing for COVID-19 drug remdesivir
Every time I read the thread title I think of Handmaid's Tale and then read the thread and feel double sad.
06-30-2020 10:22 AM
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