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Doctors choose a $2,000 alternative over a $50 drug
by confuzzled dude Sat Dec 07, 2013 11:08 pm
Avastin costs about $50 per injection.
Lucentis costs about $2,000 per injection.
Doctors choose the more expensive drug more than half a million times every year, a choice that costs the Medicare program, the largest single customer, an extra $1 billion or more annually.
To begin with, the Medicare agency is blocked from seeking better drug prices by negotiating directly with the drug companies, as health agencies in other countries do. Authorities in Britain, for example, have negotiated a price of about $1,100 per dose of Lucentis, and in the Netherlands a dose sells for about $1,300.
The rising cost of U.S. entitlement programs such as Medicare has prompted outrage in Congress, but it is Congress that has made it difficult in this case and others for Medicare to limit such expenses. Over the past 15 years, the pharmaceutical industry has far outstripped any other in the money it has devoted to lobbying, according to data from the Center for Responsive Politics. Drug companies spent a total of $2.7 billion over that time
http://www.washingtonpost.com/business/economy/an-effective-eye-drug-is-available-for-50-but-many-doctors-choose-a-2000-alternative/2013/12/07/1a96628e-55e7-11e3-8304-caf30787c0a9_story.html
-> I thought capitalism fosters competition, but in this case helped pharma companies with dictating terms; no wonder per capita health care costs in the US are much higher than any developed country.
Lucentis costs about $2,000 per injection.
Doctors choose the more expensive drug more than half a million times every year, a choice that costs the Medicare program, the largest single customer, an extra $1 billion or more annually.
To begin with, the Medicare agency is blocked from seeking better drug prices by negotiating directly with the drug companies, as health agencies in other countries do. Authorities in Britain, for example, have negotiated a price of about $1,100 per dose of Lucentis, and in the Netherlands a dose sells for about $1,300.
The rising cost of U.S. entitlement programs such as Medicare has prompted outrage in Congress, but it is Congress that has made it difficult in this case and others for Medicare to limit such expenses. Over the past 15 years, the pharmaceutical industry has far outstripped any other in the money it has devoted to lobbying, according to data from the Center for Responsive Politics. Drug companies spent a total of $2.7 billion over that time
http://www.washingtonpost.com/business/economy/an-effective-eye-drug-is-available-for-50-but-many-doctors-choose-a-2000-alternative/2013/12/07/1a96628e-55e7-11e3-8304-caf30787c0a9_story.html
-> I thought capitalism fosters competition, but in this case helped pharma companies with dictating terms; no wonder per capita health care costs in the US are much higher than any developed country.
confuzzled dude- Posts : 10205
Join date : 2011-05-08
Re: Doctors choose a $2,000 alternative over a $50 drug
by Marathadi-Saamiyaar Sat Dec 07, 2013 11:58 pm
Welcome to reality... The Pharma lobby through "bribed congress" has prevented import of foreign drugs, price negotiations, patent extensions and manipulations. Then the republicOns blame the Govt for runaway cost and Obamacare (even before it takes effect).confuzzled dude wrote:Avastin costs about $50 per injection.
Lucentis costs about $2,000 per injection.
Doctors choose the more expensive drug more than half a million times every year, a choice that costs the Medicare program, the largest single customer, an extra $1 billion or more annually.
http://www.washingtonpost.com/business/economy/an-effective-eye-drug-is-available-for-50-but-many-doctors-choose-a-2000-alternative/2013/12/07/1a96628e-55e7-11e3-8304-caf30787c0a9_story.html
-> I thought capitalism fosters competition, but in this case helped pharma companies with dictating terms; no wonder per capita health care costs in the US are much higher than any developed country.
Marathadi-Saamiyaar- Posts : 17675
Join date : 2011-04-30
Age : 110
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