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Monstrous. "The other drugs are expensive, and everyone's terrified to die - we can milk their apprehension and fear for MILLIONS!"
Average annual cost of hemophilia B treatment ranges from $85K to $263K. This is quite literally a company saying "we're worth 10 years of treatment, insurance companies - we're betting you'll pay us once rather than someone else ten times." The actual cost of producing this new treatment? Irrelevant. They will charge whatever they think that they can get for it.
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ImmutableTenderloin: Y'all think government could do better?
Yes
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cocozilla: ImmutableTenderloin: Y'all think government could do better?
Yes
Prove it.
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FormlessOne: "While the price is a little higher than expected, I do think it has a chance of being successful because 1) existing drugs are also very expensive and 2) hemophilia patients constantly live in fear of bleeds," said Brad Loncar, a biotechnology investor and chief executive officer of Loncar Investments.
Monstrous. "The other drugs are expensive, and everyone's terrified to die - we can milk their apprehension and fear for MILLIONS!"
Average annual cost of hemophilia B treatment ranges from $85K to $263K. This is quite literally a company saying "we're worth 10 years of treatment, insurance companies - we're betting you'll pay us once rather than someone else ten times." The actual cost of producing this new treatment? Irrelevant. They will charge whatever they think that they can get for it.
FYI, they make factor IX from human plasma. If you donate at one of those plasma donation centers, that's what they do with it.
/hooray, late stage capitalism
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edmo: So there's one, maybe two rich guys who will pay for that.
Insurance companies, we'll all pay for it. As somebody else pointed out, they're currently on the hook for up to $300,000 a year indefinitely or a one time payment of $3.5 million. A tragic number of Americans don't have good medical insurance that would cover either, but there are still probably 100 million + that do have decent medical insurance.
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Likwit: Man. There's a lot of things I miss about living in the US. The "healthcare" isn't one of them.
I mean..if you had this particular disease, and could have it solved under an insurance paid item for one shot, which you can now do in the US, you would want to be here.
That's the thing about rare diseases... the work to develop a cure for them is often as difficult, if not more, than the work for more common diseases. We price that work into the cost of the drug. And we all pay for that through health insurance.
Recognizing a cost of $3.5mil, or assuming into the umbrella of 'its covered', doesn't change the work that goes into making the cure.
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Yeah, that's a ridiculous price that isn't likely to go down because there is not enough market.
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Another Government Employee: Question: How many infusions of the other drug does the cost equal?
Yeah, that's a ridiculous price that isn't likely to go down because there is not enough market.
It sounds like it is replacing weekly to monthly infusions for life + constant monitoring + other disease issues.
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Who knew?
/Math, how DOES it work?
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They all should be in prison.
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Intrepid00: Between the US and EU that's 56 Billion dollars in revenue for existing patients.
The EU won't pay it. They'll negotiate down to a more reasonable price and then just gouge Americans to make up the difference. That's already baked into the $3.5M
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jake3988: It's almost as if spending tens of billions of dollars researching a treatment for an extremely rare disease means the treatment is going to be really expensive.
Who knew?
/Math, how DOES it work?
But. By that logic everyone should be able to afford insulin.
Disingenuous, how does it work?
Want to make millions? price the cheap stuff at break even. Otherwise you're full of used rubbers.
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JK8Fan: .
They all should be in prison.
No. Just take price control away from them. End of the problem.
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My Second Fark Account: For profit healthcare is so ingrained into the American psyche that this thread is filled with people defending a $3.5 million shot. Great.
The odd thing is. They only do that because they think there is inherent fairness. Which is odd because they love to say life is unfair. It's an odd disconnect.
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Seems like a bargain.
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