This back to school supply is going to cut into my Disney budget...Epi Pen Increase

[DVCcurious]

No, this is not a fact, but a political comment that I cannot respond to lest I receive points. You are welcome to continue to post your political rants at your own risk.

What is the point of complaining about the price of a drug when the people in power are on the take from that drug company? I"m not being political (as in: Party X is right and Party Y is wrong) I'm merely pointing out the reality of the world we live in (companies 'contribute' to politicians and politicians look the other way).

And considering that's how our society works there is no point complaining about it. You may as well complain about the sky being blue.

I tip my hat to the new constitution
Take a bow for the new revolution
Smile and grin at the CHANGE all around me
Pick up my guitar and play
Just like yesterday
Then I'll get on my knees and pray
We won't get fooled again

The change it had to come
We knew it all along
We were liberated from the fold, that's all
And the world looks just the same
And history ain't changed
Cause the corporations are still in charge, just like before

 

[Gracie09]

If you don't know what you're talking about you should probably keep quiet.

As a CPA with 17 years experience I can assure the rest of you that this post above is 100% false.

A little angry there pookie?
R&d expenses are deductible on taxes. I actually discussed at lunch with a friend of mine (who is horrified about this whole situation) who owned, ran and eventually sold a business making medical devices used in the detection of cancer. He got out of he business because of the fda and now runs an institute at a university that lobbies to change how the fda runs but I digress.
I should have said deduction not credits (although they do get credits for some expenses). Either way, the govt subsidies the creation of new drugs so to then turn around and say they cost X amount to create when they really cost the net much less than that is disingenuous. And then to say in the us we have to pay so much more than other parts of the world for the same drug because the company has to make back the money that they spent that we already subsidied well, then you start getting into really shady areas.
Toodles pookie

 

[DVCcurious]

Back in 2007ish my family was constantly complaining about "windfall profits" for oil companies. So I'll tell you exactly what I told them.

If you REALLY believed Pharmaceutical companies had some unfair advantage and were able to make massive profits with little to no risk then you'd take all of your money and invest in Pharma stocks. You'd mortgage your house and max your credit cards and put it all on pharma stocks. After all, they have guaranteed profits, right?

But no one in my family took me up and invested one penny in oil stocks. I imagine all the whiners on this thread won't invest in pharma stocks either.

1 year ago Mylan stock was at $70. Now it's at $43. During that time the S&P has gone up by about 5%. That doesn't look like Mylan has some massive competitive edge over the rest of the S&P 500 stocks to me.

Apparently the large hedge funds, billionaire investors, and trading geniuses don't think that accounting treatment issue you want to complain about is worth jack squat in the real world.

My main pet peeve is people who complain about this stuff. Complaining about a company/industry's "unfair" profits is dumb, instead of complaining you should invest and reap the benefits. Complaining about the prices charged in a regulated industry is dumb. If you want the prices to change then elect new politicians. But to say "political party X has been in power for 7 years while the drug cost has skyrocketed, and I believe if we elect another person from political party X they will crack down on that drug company" is, frankly, foolish.

 

[robinb]

Mylan's stocks skyrocketed nearly 20 points in April 2015 with the news that it might Merge with Teva and acquire Allergan. The stocks then plummeted back in July 2015 when the merge was cancelled and Teva bought Allergan instead. Stocks tanked because of Pharma(W)itch's leadership which the same reason why their stock in tanking now. Mylan is still making a profit (well, maybe not so much now).

My main pet peeve is people who complain about this stuff. Complaining about a company/industry's "unfair" profits is dumb, instead of complaining you should invest and reap the benefits.

And that, my friend, is one of the things wrong with Wall Street. The almighty dollar rules. No matter how reprehensible a company is investors reward predatory behavior with if it'll make them a buck. No thanks.

Complaining about the prices charged in a regulated industry is dumb. If you want the prices to change then elect new politicians. But to say "political party X has been in power for 7 years while the drug cost has skyrocketed, and I believe if we elect another person from political party X they will crack down on that drug company" is, frankly, foolish.

Again with the politics.