As US struggles to afford GLP-1 drugs, the rest of the world sees much lower prices.
See full article...
See full article...
Novo Nordisk sells hit weight-loss drug in China—at fraction of US price
- Thread starter JournalBot
- Start date
Middlemen play a part in virtually all industries in all countries. The idea that the very profitable companies producing these product are relegated to throwing up their hands in mock helplessness here is a red herring.
Upvote
-4
(1
/
-5)
Nah, grab the gun from the guy poiinting it at you, shoot him, then shoot the other two.
Upvote
0
(0
/
0)
Especially the people working extremely hard to make it complicated, so they could profit.
Upvote
5
(5
/
0)
This makes me see red, as just today I paid 500$ for my script (after using manuf coupon...) and arguing with Walgreen's since they cant seem to figure out the process is the same for applying said coupon, month to month.
Why does this cost so much? It's insane.
edit to note wife is taking a compounded semaglutide, which has been a miracle for her (since she has hormone problems) Huge change in lifestyle just because of this drug. The fact that our insurance doesn't cover it, and its been absolutely life changing for her... boils my blood.
Why does this cost so much? It's insane.
edit to note wife is taking a compounded semaglutide, which has been a miracle for her (since she has hormone problems) Huge change in lifestyle just because of this drug. The fact that our insurance doesn't cover it, and its been absolutely life changing for her... boils my blood.
Upvote
8
(8
/
0)
I've long believed that among the many changes needed to the U.S. health care system is a law that says prices in the U.S. must match the lowest price of the drug in other industrialized countries.
Upvote
-1
(2
/
-3)
But how much Ozempic do $1350 buy you? In Mexico a single pen with up to six 0.25 shots is about $200, I'm not sure if it's really an apples to apples comparo.
Good thing I don't need that crap. Big Pharma is going for broke.
Good thing I don't need that crap. Big Pharma is going for broke.
Upvote
1
(1
/
0)
Just another front man in the Klown Kar. None of the problems will be fixed, but communicable vaccine-eradicable diseases will rise, as that really does not much affect the monied.
Upvote
7
(7
/
0)
TheWerewolf
Ars Scholae Palatinae
Well, see - in the rest of the world, the healthcare system is primarily run or regulated by the federal government who negotiates on behalf of secondary providers (depending on the exact system in use in those countries).
Since the same agency can also regulate which drugs are allowed to be included in the list of covered and recommended drugs, that gives them pretty serious negotiation power.
And then you have the US.
Since the same agency can also regulate which drugs are allowed to be included in the list of covered and recommended drugs, that gives them pretty serious negotiation power.
And then you have the US.
Upvote
11
(11
/
0)
Not directly related, but you've inspired me.
I've been thinking about how Trump was president, then he was ex-president. Clear words for those two conditions. Now he's coming back and I understand the correct title is "president", but I think that lacks context, that this person was elected, un-elected, and elected again.
I propose the title "re-president" to denote this.
The nice thing is that some people will consider represidency to be a triumph, while others will view it as a reminder that this person was kicked out once already. I think that flexibility is ideal.
Upvote
2
(2
/
0)
It's kind of crazy how this suggests the US are effectively forcing European companies to up-charge their drugs for the American market. "Nope, you'll need to make it more expensive for us."
But from a capitalist point of view, of course it makes perfect sense. When you have a middleman who controls domestic distribution, they'll want a share of the pie. Bigger prices means a bigger pie, resulting in the same percentage generating a larger cut. Invest some of the profits into buying yourself a few Republican legislators to write laws blocking negotiation, and reap the benefits for your shareholders.
Spoiler: Europe doesn't to PBMs; negotiations are conducted directly between drug manufacturers and governments (the "Nanny State", as Republicans would call it), with insurers lobbying for discounts. The wild difference in pricing across the continent is still indicative of the pharma industry's own greed - it just seems the US enable a special kind of greed that serves as an additional multiplier on top of that.
Or perhaps rather enforcing a minimal level of greed, to have foreign companies match US manufacturers? "You must be at least this exploitative to enjoy the ride."
Last edited:
Upvote
6
(6
/
0)
In Australia that is $31.60AUD for one pen.
So like $20usd.
https://m.pbs.gov.au/medicine/item/12075m-12080t.html
Upvote
2
(2
/
0)
It's way more complicated than that. The reason there are no new antibiotics coming is because the economics don't favor developing them. So, while the US could certainly do something about how much we pay for drugs that exist now, there would be a pretty significant headwind toward new drug development, especially on anything remotely risky or small-market, unless something was also done about how costly it is to develop new medicine.
I'm 1000% in favor of heavy price regulation. I just don't want to give up the constant stream of miracles. And they are miracles - until these drugs literally nothing ever worked to deal with obesity in the main. People just stayed fat generally.
America basically subsidizes the rest of the world by overpaying, massively, for drugs. I'm not sure how exactly to fix that -- or if it's really broken.
Upvote
-11
(1
/
-12)
Canada here. It isn't $265 US for me. It's $350 US... $474 Canadian. Not covered by my provincial health plan. And it burned through the cap on my extended health plan from my employer in just a few months.
It's a struggle. Won't be able to replace my old beat up truck anytime soon ... But it's working.
It's a struggle. Won't be able to replace my old beat up truck anytime soon ... But it's working.
Upvote
2
(2
/
0)
As an American out healthcare system sucks and is meant to maximize shareholders value... Not to benefit American health.
Upvote
3
(3
/
0)
What? Are you some kinda commie? Next thing you know the government will own the roads, and the police and fire departments and then move on to internet and telecom infrastructure and sell access to service providers. Next they'll try to have a national electric grid. Its unfathomable but some socialist type people want the government to regulate businesses to encourage competition and drastically reduce anti-competitive corporate behavior. Corporate profits would plummet. Yacht and private jet sales would tank. Do you want to live in such a crazy world?
Upvote
7
(7
/
0)
Well, according to the Senate testimony, the drug companies only see 26 cents on every dollar, the rest goes to middlemen. Reverse the percentages and American drugs suddenly cost a third of what they currently do, with no change to how drug development is financed. And a 26% cut for a new middleman would still be something even the Silicon Valley venture capitalists would most likely fund for billions. If you are even greedier than the platform bros...
Upvote
6
(6
/
0)
And it is ultimately the American voter who is blame for it - if Americans are convinced out of supporting healthcare reform simply by someone uttering 'socialism' then all hope is pretty much lost at this stage. I mean, there are people right here right now in the year of our lord 2024 who believe that ObamaCare and the ACA are two different pieces of legislation - when you're dealing with that level of idiocy I don't hold out much hope things will change in the future.
Upvote
8
(8
/
0)
Reminds me of that Jimmy Kimmel segment where, the day after the polls closed, his crew pretends that the current day is the final day that the polls are open and interviews people on the street about their "voting plans."
The one guy that says he intends to "vote by mail," and then doesn't even know who is running is as hilarious as it is enraging.
View: https://youtu.be/5JxELubSgJg?t=787
I mean, sure, the argument could be made that if you spent a couple of hours interviewing a bunch of random people, there would be a handful of idiots for you to cherry pick, but in this case, I doubt they had to spend even 5 minutes.
Last edited:
Upvote
2
(2
/
0)
You talk like things like that will be easy. Exactly what about complex supply hierarchies has ever been easy? At best, we can hope for (a non trump government) to exercise some override level control. At worst literally nothing can make the situation better.
Upvote
-6
(0
/
-6)
Congratulations, that's what you get from uncontrolled capitalism and mercantilism 
Upvote
4
(4
/
0)
It's not broken, it's doing exactly what it's supposed to do, keep "the poors" poor
Upvote
3
(3
/
0)
They are not selling in China at fraction of US price. They are selling in US at multiple of everywhere else price.
Upvote
6
(7
/
-1)
Upvote
6
(6
/
0)
That is
All the extra money is going to middlemen - and drug companies spend much more on marketing than R&D.
So you suckers aren't subsidising the rest of the world, you're just enriching rent-seeking parasites and the politicians they bribe.
In other words, the system is behaving exactly as designed.
This is what you've voted for yourselves for decades, no need to blame foreigners.
Upvote
11
(12
/
-1)
In a plutocratic oligarchy, big farma owns the government. So, not going to reign it in.
Upvote
6
(6
/
0)
Definitely shocking this pricing policy by NovoNordisk. But also scary to report 42% americans with obesity ... the poor food standards in the US is another issue the senators should consider another scandal to address.
Upvote
-3
(0
/
-3)
It's actually $451.02 + $9.73 = $460.75 or $329.44USD at this morning's spot rate.
SOURCE: My pharmacy receipt from November 8th.
Upvote
0
(0
/
0)
Even assuming what you've written is true, (which is a VERY dubious assumption) all that demonstrates is that a free market is the worst possible approach to health care. New antibiotics are desperately needed, so if a free market doesn't value that, it's a problem with the market, not the need.
Upvote
5
(6
/
-1)
It's not even a slightly dubious assumption - it's a well established fact.
Any doubts about that can be banished by the fact that the small boutique firms that actually successfully brought new antibiotics to market promptly went bankrupt
Upvote
-6
(2
/
-8)
Nobody is blaming foreigners - the net effect of overpaying systemically means that other countries get a free ride. It's not like they clubbed together to make it happen, they just took advantage of an obvious arbitrage like anyone does.
It's not at all true that "all the money goes to middlemen." Ozempic: Novo made $14B in revenue in 2023. Lilly made $4B in Q2 alone on tirzepatide. These are blockbuster drugs, so the numbers are extreme- but huge pharma companies exist because profits are in fact made. The fact some amount of each dollar tends, on average, to go to intermediaries, does not erase the fact that the original price was quite high as well: I've heard "more than half" but it's probably BS. I'd believe 40% though. The accounting is so byzantine it's hard to take any claims at face value.
Still, a drug that costs $1000 here, and could cost $600 if middlemen were somehow eliminated, and still sells for $200 elsewhere -- the problem is the base price is $600, not that there is an additional ecosystem of horseshit also happening. If that base price was $200 and we ended up paying $350, nobody would even care enough to bother about it. So the "middlemen" BS is just another smokescreen in a forest of them.
The real problem is the base costs -- it is simply too expensive to bring drugs to market.
Last edited:
Upvote
-5
(1
/
-6)
Well, sort of! The problem I have with your conclusion is that you cannot point to any successful counterexample ever. It's not like the People's Republic of China is a fount of amazing new medicine. It may be, in time -- but it isn't today. Importantly too the only reason the PRC is even remotely an interesting case is they stopped acting like a differently flavored version of the USSR, and started using some market based approaches. Their flavor is interesting, but I sure wouldn't rather live there.
It's not like Social Democratic Western Europe is either -- the experiment there is tainted by the US being the engine of their development, as the largest and most lucrative market. They'll do all these cute, wonderful Nordic coop things -- that are able to turn a profit by selling in the grimdark evil Amerikan empire.
It's all well and good to theorize about how wonderful things would be if we just did X or whatever -- but the actual fact is that the explosion of miracle level medicine that has come out of the (admittedly modestly insane) American market experiment has remade the world, and there are no competitors at all that have ever done, or are doing, anything remotely competitive.
That said of course it has big yucky problems.
Upvote
-10
(0
/
-10)
There are a plethora of drugs and other medical interventions invented, and marketed, in other countries. Likely only half of the new drugs patented were invented in the US. You are looking at a result and thinking its the cause. The inordinate profit draws investors here. If the US were to nationalize healthcare that skew in the market would go away and the inventorship would spread more evenly over time. But it would not stop.
Upvote
8
(8
/
0)
i think, when Lex Friedman interviewed Mark Cuban this issue was not small part of the conversation.
View: https://youtu.be/0cn3VBjfN8g?t=6339
Upvote
-1
(0
/
-1)
When they raise the price if living saving drugs by 400% or more is literally that unless the people who needs the drugs to live can find ir cheaper somewhere else or a cheaper drug that still helps them.
Upvote
1
(1
/
0)
What lazy journalism from Beth Mole who is usually on point. The Senate hearing was laughable as Bernie got righteous and fiery only to be shut down by CEO Jorgenson saying "it's not our company setting the price, it's the PBMs in your healthcare system". Every country in the world will get GPL-1 drugs cheaper than the US as they do with every other drug i.e. Insulin. Capitalism in healthcare is scary...
Upvote
-8
(1
/
-9)
I lost all respect for Bernie with that whole dog and pony show. It is a distraction, he knows why our system is fucked. And he knows that our government is too incompetent and corrupt to resolve it. So he misdirects to a foreign company (and completely glosses over the fact US based pharmaceutical companies screw American citizens just as bad).
It is all smoke and mirrors as usual.
Upvote
1
(1
/
0)
Found the person who has never been to China but eats up their propaganda... Lol.
Upvote
4
(4
/
0)
How can you even say that? We will eventually have a true medical expert who is also an expert connoisseur of road kill, former long term heroin addict, and a brain worm personal housing developer. As well as an accomplished anti-vaxxer who contributed to the deaths of dozens of children in American Samoa. What could possibly go wrong? This even ignores his recent Froot Loops fiasco, and his always wanting to get the “chemicals” out of food and water.
“Kennedy also played a part in one of the worst measles outbreaks in recent memory. In 2018, two infants in American Samoa died when nurses accidentally prepared the combined measles, mumps and rubella, or MMR, vaccine with expired muscle relaxant rather than water. The Samoan government temporarily suspended the vaccination program, and anti-vaccine advocates — including Kennedy and his nonprofit — flooded the area with misinformation. The vaccination rate dropped to a dangerously low level. The next year, when a traveler brought measles to the islands, the disease tore through the population, sickening more than 5,700 people and killing 83, most of them young children.”
https://www.annenbergpublicpolicyce...f-kennedy-jr-on-vaccines-autism-and-covid-19/
Upvote
5
(5
/
0)