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Obama to Sign Prescription Drug Executive Order
ABC News ^ | Oct. 31, 2011 | AnnCompton

Posted on 10/31/2011 7:52:30 AM PDT by Beaten Valve

Using the legal force of an executive order, President Obama is taking action on the health care front as part of his pressure on Congress for action on his jobs plan.

White House officials say at a midday signing ceremony in the Oval Office, the president will address price gouging and the availability of prescription drugs. He will also endorse what he describes as bipartisan legislation awaiting action.

“The shortage of prescription drugs drives up costs, leaves consumers vulnerable to price gouging and threatens our health and safety,” an administration official says.

(Excerpt) Read more at abcnews.go.com ...


TOPICS: News/Current Events; US: District of Columbia
KEYWORDS: drugs; obama; prescription
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To: Terry Mross

It cost upward of 300 million to develop any new drug..”

The cost has been over $1 billion for some time now and that money must be replaced before the company patent runs out. I’m glad I no longer work for big Pharma, so many jobs have now been out sourced. BTW, the vast number of my colleagues were huge Clinton and now Obama supporters.


21 posted on 10/31/2011 8:10:57 AM PDT by Huskrrrr
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To: RC2
Cost of general active ingredients: $0.71

Visit to doctor: $150
Cost of paper doctor writes prescription on: $0.02
Percent markup: 749,800%!

22 posted on 10/31/2011 8:12:40 AM PDT by Reeses (Have you mocked a Democrat today?)
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To: kevkrom

Yep, that too. Also forgotten is legal issues. Drug companies keep a legal department on the payroll too. That adds to the cost. El Presidante can write all the XO’s to bring down the cost of drugs but all it will do is drive them overseas. Then how will the FDA control them?


23 posted on 10/31/2011 8:13:49 AM PDT by SkyDancer ("If You Don't Like What I Say Or Do, Tough, Deal With It")
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To: Beaten Valve
“The shortage of prescription drugs drives up costs, leaves consumers vulnerable to price gouging and threatens our health and safety,”

Doesn't this administration limit or prohibit the import of drugs? (for the good of the population)

24 posted on 10/31/2011 8:15:34 AM PDT by I am Richard Brandon
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To: kevkrom

“Cost of research, development, testing and advertising: a billion dollars or more.”

Yes and then you have 7 years to recoup all of your R&D expenses before the generic producers are all over you and you lose a lot of market share.


25 posted on 10/31/2011 8:17:11 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: RC2
Whoa!

The cost of a single item used in a drug (or any complex solution) is not indicative of the expenses needed to discover the indicated chemical, pass the entire FDA gamut of testing needed to show that this drug is safe for general human use, pediatric use or end of life use.

Remember Thalidomide? Cheap enough drug, but no one expected a need to look at its effects on future generations.

There is no such thing as a “cheap” or “generic” drug, until AFTER a company spends $100 million and $1 billion to determine if it is even worthwhile.

26 posted on 10/31/2011 8:24:10 AM PDT by texas booster (Join FreeRepublic's Folding@Home team (Team # 36120) Cure Alzheimer's!)
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To: Beaten Valve

More unconstitutional “legislation” from the WH.

And the ball-less congress stands by doing nothing.


27 posted on 10/31/2011 8:25:07 AM PDT by ChildOfThe60s ( If you can remember the 60s....you weren't really there)
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To: RC2
Claritin: 10 mg Consumer Price (100 tablets): $215.17 Cost of general active ingredients: $0.71 Percent markup: 30,306%

That is the most asinine, narrow minded, uneducated worthless post I believe I've ever seen. That looks like something the Obama administration would release as reason to do this. You have zip, zero, NO CLUE as to what goes into getting one of these drugs to market. If you did, you'd understand why the consumer price is what it is. The cost of ingredients is almost no factor at all on the selling price. That's like saying that when you buy a car, you're just paying for the raw plastic and metal. Do a little research into what goes into getting one of these drugs to market and you'll understand.

28 posted on 10/31/2011 8:25:59 AM PDT by Dubya-M-Dees (Little HOPE... No CHANGE)
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To: Beaten Valve

This sonofabitch has taken over the country! He’s gotta be stopped!


29 posted on 10/31/2011 8:26:10 AM PDT by Road Warrior 04 (I miss President Bush greatly! Palin in 2012! 2012 - The End Of An Error! (Oathkeeper))
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To: RC2
Claritin: 10 mg Consumer Price (100 tablets): $215.17 Cost of general active ingredients: $0.71 Percent markup: 30,306%

And, yet, you push dog and horse(sh!t) relief on your home page!

30 posted on 10/31/2011 8:30:07 AM PDT by Road Warrior 04 (I miss President Bush greatly! Palin in 2012! 2012 - The End Of An Error! (Oathkeeper))
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To: Beaten Valve

The article doesn’t indicate what this directive really says.


31 posted on 10/31/2011 8:32:21 AM PDT by almost done by half
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To: Josephat
Quite a bit. When Arthur Hailey was researching for his book No Deadly Drug he found that there was a lot of red tape that drove up the cost of development, and even more red tape in production. Some of the government regulations make perfect sense, to ensure the drug has been tested adequately and competentently, and that it's manufactured properly. Other government regulations make no sense, and may not be based on science.

Then there is liability cost. Think "big awards against big pharma".

32 posted on 10/31/2011 8:32:59 AM PDT by asinclair (Talk is cheap, actions are priceless)
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To: Jane Long

probably not, lately, I have found out from reading the pamphlets, that many of these new prescriptions actually cause the symptoms that you are written the prescription for in the first place.

Anti depressant drugs cause anxiety, depression along with a whole bunch of allergic reactions including death.


33 posted on 10/31/2011 8:34:24 AM PDT by television is just wrong
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To: Beaten Valve
Anyone still cannot understand that King Obama is America's first would be dictator. He is a communists.
34 posted on 10/31/2011 8:36:50 AM PDT by Logical me
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To: the invisib1e hand

yep.
The stroke of a pen can destroy a complete industry and remove American advantage immediately!

The companies? Probably relocate taking technological advantage and employment out of the country.....

I didn’t think jackasses could hold pens!


35 posted on 10/31/2011 8:39:48 AM PDT by himno hero (Obamas theme...Death to America...The crusaders will pay!)
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To: RC2
Claritin: 10 mg
Consumer Price (100 tablets): $215.17
Cost of general active ingredients: $0.71
Percent markup: 30,306%

Excuse me? Where did you get your consumer price?

The name brand Claritin I found at the most expensive place was $99.97 for 100 tabs and it looks like a big part of the cost there is the making up of a special bottle.

If you are willing to live with items being prepackaged you can get Claritin in the 45 count bottle for $25.56 for 45 tabs.

I can't check on the cost of the active ingredients because they are not available but as the first numbers were so far off I would doubt them as well.

I agree that the price of name brand items is outrageous, although for some people name brand is the only thing that works, but your claims are a bit out there.

36 posted on 10/31/2011 8:42:28 AM PDT by Harmless Teddy Bear (*Philosophy lesson 117-22b: Anyone who demands to be respected is undeserving of it.*)
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To: RC2
I don’t know how many drug manufacturers there are left in the US but law suits will drive them out.

Anyway....here’s one thing people need to understand, and this is only one example.

Claritin: 10 mg

Consumer Price (100 tablets): $215.17

Cost of general active ingredients: $0.71

Percent markup: 30,306%

Here is what you fail to take into consideration:

Schering Plough's profit margin last year was 22%. That is a long way from what would be derived from a mark-up you note. I'm not saying your numbers are incorrect, just pointing out that there is more to them. Every person in the distribution chain adds his/her mark-up to the product - it is the reason for being in business. The end cost is not completely determined by the pharma company.

It cost just north of $500 million to develop and bring to market Claritin. Add to this the patient liability and potential nuissance lawsuit payoffs and you are talking some real money. A company making a profit of 22% annually is not gouging - they are doing well in comparison with my industry, but more power to them - why would you risk over a half a billion of investor dollars if there was not an upside on the back-end?

37 posted on 10/31/2011 8:44:24 AM PDT by RobertClark (It's better to look goofy with a rifle, than civilized with an exit wound.)
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To: Beaten Valve
Ignore the order.

Seriously, it's illegal.

38 posted on 10/31/2011 8:45:19 AM PDT by Lazamataz (I guess some Occupiers are more 99% than other Occupiers.)
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To: Beaten Valve

I’ve noticed that because they make so few Rolex watches, the price is higher than I like.

I’m waiting for the executive order that fixes that.


40 posted on 10/31/2011 8:46:01 AM PDT by SampleMan (Feral Humans are the refuse of socialism.)
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