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A US drug company that faced a backlash after raising the price of a drug used by Aids patients by over 5,000% has said it will lower the price.
This is not the kind of person who should be allowed to sell medicine, and who makes an excellent case for regulation.
But he has now told ABC News: "We've agreed to lower the price on Daraprim to a point that is more affordable and is able to allow the company to make a profit, but a very small profit."
originally posted by: TOYBEAR
I don't understand why we as a society aren't killing these people.
Why aren't we storming into their offices and throwing them out their windows
to plummet to their deaths. There are so many of these only this one likes
media attention is all. I would donate to the defense of any citizen that demonstrated
love for humanity by removing this cancer from our collective conscious.
-Toy the Bear
Another company will probably have a 10.00 generic competitor out soon, especially after all the news.
originally posted by: ChaoticOrder
It seems to me that strict regulations are what allow these monopolies in medicine. The CDC makes it impossible to get any new drug approved without costing a huge amount of money and time. And patents allow big pharma to attack anyone else who tries to sell the same chemical structure, so they don't have any competition and they can set the prices to what ever they want instead of being subject to free market forces. Then you look at a place like India where they have not so many regulations and you see they are producing the same drugs and selling them for a fraction of the price. Obviously an entity like the CDC is required to test and validate new treatments but they make it way too hard for anyone other than big pharma. Having many businesses try to constantly undercut each other is essential to getting the lowest possible prices. It's actually illegal for businesses to conspire among one another and fix the price, so why should it be legal for one monopoly to fix the price at what ever they decide just because they don't have any competition?