Hep C Discussion Forum

Fireman Rob · Senior Member

RE: Gilead & Sovaldi Under Attack by Fed & State Government

OldenSlow · Senior Member

Isiscat2011 wrote:
Big Pharma are greedy little piggies.

No ambivalence here. Piggies will be piggies. Interesting video interview with a professor at Harvard Business School concerning the Social Progress Index, which places the USA 16th internationally...

Social Progress Index

Tig · Admin

Yes, it's a contentious issue and one that have people in favor of one side of the other. There are ways to change the law, and I suggest they work on that instead of all the committees and hearings trying to find a reason big enough to force Gilead into changing their price structure. That's the problem it seems, they know what needs to be done but continue to beat around the bush hoping to chase a rat out of it. No laws were broken evidently, or this would've been resolved when it started. It seems to be more of a problem with morals and ethics versus law. Get Judge Judy on the case....

Isiscat2011 · Guru

Zlikster wrote:
One of the many wrongs of free market economics in areas where there should be some moral grounds (and not just profit chase).
_________________________________________________________________________________________________________
I love that you wrote this and I just wanted to see it written again. Matt and Zilkster, you are Gurus after my own heart.
I am not at all torn about this. Big Pharma are greedy little piggies. I read an article in the Huffington Post that indicated the pharmaceutical industry spends 19 dollars on promoting their products for every one dollar they spend on R & D. There is no question that its all about the benjamins for Big Pharma and their stockholders.
Until Congress can agree on this issue (which is probably never) things aren't going to change and the pharmaceutical industry's lobbying power is tremendous. As it stands these valiant efforts by politicians, who actually do seem to give a crap about the nation's health care care, will amount to little more than free advertising for Gilead in the long run. (Wow, Gilead's drugs are so good they can actually charge 1k a pill for them!)
Speaking of advertising has anyone seen the new tv commercials about HepC that are paid for by Gilead? Those folks are slick. Don't even have their miracle product on the market yet and they are already selling it. They are going to have to keep the demand in check, though. If they oversell their product before it is even released HepC patients and their loved ones may end up storming the factory walls. That would be something to see.
For now, it looks like Gilead and the free market system are still squarely in the driver's seat for determining the outcome. The only outcome we know for sure is that if somebody suffers from the greed it will be the most vulnerable--the poor and the sick--Gilead is poised to rake in billions no matter what. Later on, other drug companies will grab their share of the HepC spoils.

patiently_waiting · Senior Member

I'm somewhat torn on this issue. I know on the surface these prices seem like highway robbery, but it's very important the financial incentives are there for drug companies to develop *cures* rather than the more lucrative treatments. As long as our current medical R&D system is as it is (free market, for profit, capitalist), then there must be financial incentives in place for us to get the cures we all want. Otherwise I have little doubt drug companies will pursue treatments rather than cures so they can rake in the $$ over a longer period of time. It's immoral and unfair, but that's the world we currently live in unfortunately. I have to say it scares me a little to think about a typical Congressional dog & pony show (i.e. public hearing) where they tar & feather the drug companies. I don't know the financial details of it all. Maybe they are charging way too much, maybe they aren't if you look at how much was spent on R&D. I know the situation can't be judged by looking at the cost of the medication alone, which is what many including Congress may be doing.

-- Edited by patiently_waiting on Wednesday 16th of April 2014 07:15:30 PM

Barnacle · Senior Member

Fireman Rob wrote:
Yes,
Just over $900 is correct. There's an article on Yahoo News today that basically says Gilead is charging what the various markets in the other countries are able to pay. Everywhere but the US anyway! Sorry, I'm a bit bitter about this after being denied by my insurance company twice!
Hopefully something changes soon as this waiting game is stressing me out! I'm optimistic by hoping Interferon/Riba treatments are on their way out???
Best!

Cairo buyers club anyone?

Fireman Rob · Senior Member

Yes,

Just over $900 is correct. There's an article on Yahoo News today that basically says Gilead is charging what the various markets in the other countries are able to pay. Everywhere but the US anyway! Sorry, I'm a bit bitter about this after being denied by my insurance company twice!

Hopefully something changes soon as this waiting game is stressing me out! I'm optimistic by hoping Interferon/Riba treatments are on their way out???

Best!

Barnacle · Senior Member

I read somewhere that Egypt gets sovaldi for $900 for a full 12 week treatment

OldenSlow · Senior Member

Wish I could be more optimistic about a sooner-than-later resolution to this. The FDA can't control pricing and Medicare can't negotiate cost. Wellpoint (Anthem Bc/Bs) is working with various state Medicaid agencies to possibly eliminate Sovaldi from managed care plans. California considers Sovaldi a "low value" treatment relative to cost, and is likely to issue guidelines calling for treatment of only the sickest first.

Gilead is accustomed to complaints about their pricing structures. Sovaldi is truly a miracle med and they know it. Until there is suitable competition in the marketplace, I don't see much changing.

Matt Chris · Guru

Hey Zilkster

I think I remember reading that the cost for a 12 week treatment was $250.00 USD

Of course that does not take into account all the hundreds of people in clinical trials but even with that they are way out of bounds with their pricing. I agree with you Zilkster these companies try to dominate and control the market by buying the little up and coming Bio-tech companies. Maybe all this pressure will make the whole HCV drug marketers wake up and realize that they have to be fair in their pricing because the media, politicians, and medical groups will be watching very closely.

That or we should all hired a charter to Cairo and have a Sovaldi shopping trip with a stop at the Pyramids for the fun of it, we could invite the entire HepFriends forum members and work out a vacation tour of it smile

matt

Zlikster · Guru

but...but...they have to put 1k$ per pill price! those 11bil $ for Pharmasset aquisition wont fall from the sky! aww

It's about time to question real costs of production and profit precentages and somehow stop, or at least regulate, this system where bigger companies pay insane amounts of money for smaller r&d firms just so they can fix the price of potential miracle cure way too high so it can reach people in need fast enough...we got used of similar finanical game/biz in IT sector, but this should be different when it comes to life saving meds. Well, at least i think it should be. One of the many wrongs of free market economics in areas where there should be some moral grounds (and not just profit chase).

Question is...would Gilead's greed (Sofosbuvir price) be the same if they aquired Pharmasset when they were selling for 2bil $? Are other companies (Vertex are you there? hows 60k$ price for Incivek for Bosnia going? grrrrr)

Loopy Lisa · Guru

I actually saw that in the UK the cost is only 11 thousend pounds, that is a big contrast to the 30 thousend cost given to the Netherlands. Ok 11 thousend is nothing to sniff at, but I am questioning their prices in different lands!

I looked at Clinical trials earlier, the US and Australia are now offering Daclavir and Sofosbuvir trails, get on them folks, they are too good to miss!

-- Edited by Loopy Lisa on Saturday 22nd of March 2014 12:38:26 AM

HR · Senior Member

It's just not Gilead they're attacking. I will leave it at that.

Matt Chris · Guru

The cry has been heard up on high.

The US Congress is requesting Gilead to explain its pricing on Sovaldi ($1,000 per Pill)

This is the link for the request from the Committee on Energy & Commerce

http://democrats.energycommerce.house.gov/sites/default/files/documents/Martin-Gilead-Sciences-Hepatitis-C-Drug-Sovaldi-Pricing-2014-3-20.pdf

Gilead stock also is diving, check out this article from Stock Traders Daily, here is a except

In summary, the letter sent to Gilead from the House of Representatives on Thursday suggests the $84,000 per treatment proposed cost of its Hepatitis C vaccine, Sovaldi, and the more probable $150,000 per treatment cost imposed by combination therapies offered by physicians, would not be affordable by most of the persons diagnosed with Hep-C because those are typically lower income demographics. In addition, and what was not as direct, the letter suggested that the Government, who would ultimately have to pay that bill, was not willing to pay what Gilead was asking. In no uncertain terms, the Government is doing everything in their power to reduce the cost per treatment, and if they are successful as they probably will be, the revenues from this seemingly successful vaccine will come down considerably from that $84,000 estimate. We do not yet know by how much.

Hopefully this will open the door for more people to be treated because of a lower price or arrangement of discount.

matt

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