politics

[matotom]

with a kerry admin looking more possible and his promise to stick it to the drug companies, what sort of effect do ya see on the field......im assuming pharmacists salaries are somewhat related to profitability of their employers which seems to be retail to a good extent....

any thoughts

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[bananaface]

Pharmacists are in high demand so we will continue to be well compensated.

I'm all for sticking it to drug companies when the alternative is sticking it to retail pharmacies as the Medicare discount cards are designed to do. There are only so many pieces of the pie to cut out of if drug prices are to be reduced for consumers. Our margins have already shrunk enough at the retail level. Let the drug companies, the world's most profitable industry, take the hit for once.

 

[BMBiology]

Let the drug companies, the world's most profitable industry, take the hit for once.

How about the oil industry? I wonder what would happen when the drug companies start to loss money because of drug imports from foreign countries who will greatly benefit from drugs that were developed in the U.S. I wonder who then will spend billions on drug research to develop our next blockbuster drug.

If a business is not profitable, it will collapse and the business of drug research is no exception to that fundamental rule of business.

 

[vafcarrot]

It scares me that finding a cure for cancer is profit driven and without the big bucks going into research, all the people doing research would say "oh well, nevermind. I'll do something else where I can make more money."

How much does a pharmaceutical drug designer make on average a year?
And what percentage of profit that the drug companies make actually goes into drug development and what part goes to the CEOs and upper management?

 

[dgroulx]

It is really hard when I see patients drug costs go up. These are drugs that have been around quite a while. I've also noticed that co-pays have risen with many insurance companies. The insurance companies have a very high profit margin and want to keep it that way. They are not making drugs. Why not go after the insurance companies?

 

[bananaface]

The world's most profitable industry title was given in 2001 by Forbes magazine. There may be another list out. But I haven't seen it in the news and don't subscribe to Forbes. Anyway, the point is that they are highly profitable and don't need a government handout.
http://www.collegejournal.com/researchindustries/researchindustries/pharmaceuticals-v.html

Check out this blurb on the results of the Medicare drug discount plan:
Rx Prices Jumped After Medicare Law Enactment
Manufacturers' wholesale prices for the 197 brand name drugs most frequently used by older Americans continued an upward climb, rising 3.4% during the three-month period ending March 31, 2004, according to a study released last week by AARP.

The rate of increase was nearly three times the general inflation rate of 1.2% over the same period. Nearly 30% of the Rxs studied had price hikes of 5% or more. The increases followed last December's enactment of a Medicare prescription drug benefit. - NCPA's e-News Weekly 7/13/04

Alot of money now is going into direct to consumer advertising. That has its pros and cons. It would be the subject of a different thread. In fact, we may already have discussed that.