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The free market at work: Imprimis to sell drug going for $750/pill for $1.

 
 
 
The free market at work - a competitor is selling a competing drug for $1, ruining the investment of the guy who thought the free market allowed gouging.

Thank you Axulus. If I hadn't been taking a prolonged break I'd have posted it myself.
 
Axulus said:
untermensche said:
There is no market concept that explains why the drug manufacturers charge patients in the US so much more than they charge in other places.

Especially since they get so much US government aid in the process.
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Patents. They are effectively a government created monopoly, meaning no competition is allowed. Furthermore, strict and expensive FDA regulations reduce competition further and only the few who can afford to pass them can supply the drug (and the cost of passing them must be recouped from the patients who use the drug). Finally, there is a general ban on imports unless they have passed said strict FDA regulations and approval process, reducing competition even further. Note that this is all contrary to the statement I made: With robust competition
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"Robust competition" is as much a fantasy as "free markets".

You are talking delusions while the gougers rape the American public everyday.

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Jason Harvestdancer said:
The free market at work - a competitor is selling a competing drug for $1, ruining the investment of the guy who thought the free market allowed gouging.

Thank you Axulus. If I hadn't been taking a prolonged break I'd have posted it myself.
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Is the investment ruined?

Is the drug not still selling at the same price?

This was not a competing product put into the market. It is a per-patient service.
 
barbos said:
hurtinbuckaroo said:
Shkreli busted for fraud:

https://www.washingtonpost.com/news...martin-shkreli-arrested-for-securities-fraud/

Unrelated to the drug pricing thing, but couldn't happen to a nicer guy.
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I am starting to think drug pricing thing was a quick scheme to fix his problems. So it may be related.
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Naw. Other hedge companies, I mean pharmaceutical companies are doing this. He was just dumb enough to make the increase so head splittingly massive.
 
barbos said:
Jimmy Higgins said:
Naw. Other hedge companies, I mean pharmaceutical companies are doing this. He was just dumb enough to make the increase so head splittingly massive.
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Because he needed money quick.
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Ya, that may have been part of it. He took all of the money out of a second company to pay for the money he stole from the first company, so that left him needing to find a way to put money into the second company. The outrage over how he went about it left him with a cash hole which may have been the thing that led to his arrest.
 
Tom Sawyer said:
barbos said:
Because he needed money quick.
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Ya, that may have been part of it. He took all of the money out of a second company to pay for the money he stole from the first company, so that left him needing to find a way to put money into the second company. The outrage over how he went about it left him with a cash hole which may have been the thing that led to his arrest.
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So this poor chap is going to jail, just because a few* posters on the Internet decided they didn't like him.

Well I hope you are proud of yourselves.**


















*Million

**No, really. You should be. That wasn't sarcasm.
 
So, once again, violent shrieks of outrage on internet forums have saved the day. Good work, everybody. Your uninformed and partisan diatribes have proven to be the last bastion of freedom and democracy.

Keep it up and remember that anyone who disagrees with you is worse than Hitler. :)
 
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