Is this the beginning of the end for Big Pharma?

[AMcG]

I just read an article about Indian Pharmaceutical companies producing cheap generics and successfully repudiating the patents of some of the largest pharmaceutical companies in the world. It did not mention MS drugs but the principle is the same and if India can do it why can't we all?

"At the time, Bayer was selling the drugs at 280,000 rupees (£2,743) a month versus Natco's 8,800 rupees (£86.20), and reaching just two percent of the population. It demonstrates how pharmaceutical companies in India have risen to the challenge and answered a national need -- it's something other countries can learn from, but also something others can benefit from when their attention focusses on vaccines and other high demand necessities. Indian courts have scuppered the patents of drugs manufactured by some of the largest pharmaceutical companies in the world, including Pfizer Inc, Roche Holding AG and Merck & Co, with medicines targeting asthma, hepatitis C, cancers and more."

http://www.wired.co.uk/news/archive/201 ... a-vaccines

[CureIous]

If consumers knew just how badly the pharms were ripping them off, via
medicare, insurance costs, and out of pocket, all in the name of pleasing
shareholders, there would be riots in the streets.

Anything that pisses off a pharmaceutical company is fine by me. Considering
that a majority of the garbage they put out is either ineffective,
or has better, cheaper, safer alternatives, and /or is found later to
cause other problems.

That's why I heart my GP, he knows what the gig is, I tell him how
insulting it is (not necessarily on his part) to be waiting 30 min. to
an hour for the appt., only to have some drug pusher waltz in the
door with their free samples and get immediate audience. I always
try to toss a few daggers their way for fun.

It's not necessarily always the Dr's fault per se, they are (if they are good)
always in learning mode. They take the pharms/FDA's (same thing)
word on a drugs safety and efficacy at face value because they have
no other choice than "no thanks".

Good post.

[cheerleader]

Thanks for the link!
Globalization is certainly changing pharma, in good ways. Third world nations don't put up with the price gouging and corporate shenanigans like we first worlders do. They are not ruled by corporate interests, and they don't like corporate corruption.

Look at how the Chinese stuck it to Glaxo recently, by initiating a doctor bribary inquiry....

GlaxoSmithKline's drug sales in China slumped 61 percent in the third quarter, hit by a bribery scandal that damaged its ability to market products in the country and pushed some sales into the hands of rivals.

http://www.reuters.com/article/2013/10/ ... DB20131023

Globalization has hurt a lot of industries, but in this case, maybe it will do some good--
cheer

[Quest56]

If consumers knew just how badly the pharms were ripping them off, via
medicare, insurance costs, and out of pocket, all in the name of pleasing
shareholders, there would be riots in the streets.

This comment (minus the reference to medicare, insurance costs, etc) hardly applies only to pharmaceuticals, but to all consumer goods produced by publicly traded companies beholding to stock holders.

And, regarding this, there certainly have been riots in the streets.

[1eye]

Is this the beginning of the end for Big Pharma? I hope so. It would be a welcome change. But don''t underestimate the power of a few billions. contracts on human lives are an order of magnitude cheaper. It is a very large enterprise with no morals or scruples whatsoever. Let's hope a few judges and politicians will show up, who care about their own countries' people, and their own reputations, as well as their souls, above mere financial gain.

[Quest56]

A very large enterprise with no morals or scruples whatsoever.

This could be part of the dictionary definition of capitalism as it relates to publicly traded companies.

Is this the beginning of the end of Big Pharma? Probably not.

[centenarian100]

I think that only a single payer system can end the dominance of big Pharma...at least in the United States.

[NHE]

I think that only a single payer system can end the dominance of big Pharma...at least in the United States.

You might want to watch this Frontline documentary "Sick Around the World."
http://www.pbs.org/wgbh/pages/frontline ... orld/view/