Presumably, the thinking behind their strategy is that if they allow enough patients to die, people will be so happy just to be able to obtain the drugs they need, that they won't be near as likely to complain about the outrageous prices that they have to pay.
Health officials say drug shortages pose a growing public health crisis, fueled in large part by financial motives of drugmakers who’ve watched low-cost generics erode their profits.
Numerous drugmakers contacted by msnbc.com either refused to comment on the shortages or confirmed only that they exist. None would discuss financial considerations.
The FDA has no authority to compel drugmakers to continue producing a certain drug, or to require them to make a drug that’s in short supply, Jensen confirmed. And companies aren’t required to inform the agency about impending shortages unless the drugs don't have an alternative. Even then, there are no sanctions if they don’t.
It is suspected that some of the hardest material known to science can be found in the skulls of GI specialists who insist that diet has nothing to do with the treatment of microscopic colitis.
I worked for Beecham Laboratories in the mid-80's. Shortly after I left, Beecham was bought out by SmithKline, and it was eventually swallowed up by GlaxoSmithKline, at least the human medicine side of things. I don't know what happened to the veterinary medicine side. I know that King Pharmaceuticals bought the admin complex where the vet medicals were manufactured.
Anyway--the product managers were former pharmaceutical sales people. Even in the mid-80's these product managers made around $60K/year, and it was very difficult to talk sales people into becoming product managers because it was a cut in pay from their commission.
As product planning supervisor, I was the one who forecasted product need and when we needed to start manufacturing various products, and making sure we had the ingredients we needed to manufacture. I don't remember how many products we had, but one of our major products was amoxicillin. Beecham invented the synthetic form of penicillin and held the patent until it expired. After the patent expired, of course there was generic manufacture of amoxicillin. But you know what? WE manufactured generic amoxicillin! And I sincerely doubt that these companies that complain about generics eating into their profits are any different! Sure, the generics brought in less money, but not nothing.
Another thing about profit... one of our products was a veterinary product called Pet-Tabs. My mother bought them for my parents' dogs for $10 at the vet's. I bought them for her (same size) at the company store for about $3. The cost to manufacture the product (not including packaging) was 7 cents.
I am all for companies being profitable, even very profitable. But not disgustingly rolling in it, especially when it injures or kills people. That's not right.
Marliss Bombardier
Dum spiro, spero -- While I breathe, I hope
Psoriasis - the dark ages
Hashimoto's Thyroiditis - Dec 2001
Collagenous Colitis - Sept 2010
Granuloma Annulare - June 2011
Thanks for the insight into the industry. I've often wondered if what we all suspect, is actually true. Apparently it is.
Tex
It is suspected that some of the hardest material known to science can be found in the skulls of GI specialists who insist that diet has nothing to do with the treatment of microscopic colitis.
