It was a Goldman Sachs executive that asked the most sensitive question of the day, “Is curing patients a sustainable business model?”
While this proposition carries tremendous value for patients and society, it could represent a challenge for genome medicine developers looking for sustained cash flow…
In the case of infectious diseases such as hepatitis C, curing existing patients also decreases the number of carriers able to transmit the virus to new patients, thus the incident pool also declines … Where an incident pool remains stable (e.g., in cancer) the potential for a cure poses less risk to the sustainability of a franchise.”
So, they went ahead and talked to each other to simultaneously raise the prices of their nicely packed chemical products with the agreement that in order to prevent real market competition, a definite sector within the large sickness industry must be properly assigned to each and everyone one of them.
But, as it happens, nearly every state in the US is now part of a lawsuit against leading pharmaceutical companies which colluded to raise prices on generic medications by as much as 1,000 percent.
RT’s Boom Bust talks to Mollye Barrows of America’s Lawyer about the case with the big pharma companies which some are referring to as “the largest cartel case in the history of the United States.”
She says executives of 20 companies met with each other to fix prices and divide the market share of profits for more than 100 generic drugs.
This fundamental problem in the medical industry can never be thoroughly addressed without looking at the system that breeds corruption at all levels not just in the industry itself but across the entire economic system itself.
The monetary-based economy will always spawn ways to supplant real problem-solving technological innovations with counter-innovations of their own towards sustaining the enterprise.
Filing lawsuits is fine and necessary. However, at the end of the day, one needs to stay away from the drug enterprise altogether.
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