By now you’ve heard of some of the sellers who are taking advantage of shortages during the current virus pandemic (over $100 for a bottle of hand sanitizer on Amazon.com ?!). Most stores are not doing that, but a few are. REPORT THEM!
Tag Archive for price
Why Drug Prices are so High
A new drug enters the market with a 20-year monopoly before a generic version of it can be sold. This is the time period in which the pharmaceutical company recoups the amount it spent in developing the drug. In other words, unlike your small business, they get to charge a high price for that little pill until they break even. If that’s the case, why don’t they drop the price after 20 years? The answer is simple: more profits.
Yes, a generic company can make a cheaper version and challenge the 20-year window through the FDA. It’s really a patent challenge, claiming that there’s a flaw in the patent or it isn’t valid for some other reason. Of course, the big-pharma company counter-sues leading to lengthy and expensive litigation. If they think they might lose or don’t want to take the chance, they just settle it all with an agreement that the generic company will drop the suit and hold off introducing their more affordable pill, and, in exchange, big-pharma will pay them a tidy sum. Everybody wins, right?
Wait a minute. What about us consumers who depend on the medicine, especially people who, because of the expense, must often choose between life-saving medications and food or rent? And doesn’t that also add to the high costs of our medical system? Mmmmmmmmm.
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affordable, cost, drug, FDA, generic, patent, pharmaceutical, price, profit, Rx
Life-Saving Meds: A Great Idea
Many people depend on insulin just to stay alive. Pharmaceutical companies know that–and take advantage of it. They have raised their prices for this relatively inexpensive drug by 1000% over the last 20 years, leading people to cut down on their doses in order to afford it or to share with a loved one, thus endangering their health and lives. But they have no other choice.
Remember that this is a drug whose discoverers, back in 1922, sold the patent for a single dollar to the University of Toronto with the assurance that it would be available for all who needed it
Now Colorado has stepped in. They just passed a bill that no one can be charged more than $100 (yes, one hundred) a month out-of-pocket for their month’s supply of insulin. In addition, the bill requires an investigation into the pricing of that drug and a report given to the governor by 2020.
The 400,000 Colorado citizens will have to wait until Jan. 1, 2020, for the law to go into full effect, but at least they have hope.
Seems to me that this would be a good law for all the other states to enact.
Is Airbnb Costing the Rest of Us Too Much?
In light of Airbnb’s possibly being able to get around taxes and regulations imposed on others, the Economic Policy Institute has released a report, The economic costs and benefits of Airbnb, that’s worth reading. It answers questions like benefits vs. economic costs (and who gets richer and who suffers the loss), affects on housing availability and prices, the effect on local businesses, and other issues.
It really does affect all of us, whether we use Airbnb or not. How does it affect you? Read the report.
Don’t Get Sick!
I’m sorry. I usually try to avoid politics. But something is greatly bothering me. It relates to all those people who are in the middle–not super rich or super poor, just trying to make ends meet for their families.
Our lawmakers are trying to revise the health care system, and, in the process, are making it so a whole bunch of people can’t afford insurance. Not poor enough for subsidies and not rich enough to afford high insurance prices and co-pays without sacrificing other necessities. At the same time, they’re proposing to “improve” the income tax system by doing away with medical deductions. Talk about being hit in two directions at once!
I’m concerned. No, I’m worried. Who will protect our vulnerable sick citizens
Those Items from Your Remodel Job are Valuable!
DON’T THROW AWAY THAT DOOR, FIXTURES, APPLIANCES, OR OTHER ITEMS FROM WHEN YOU REMODELED. Donate them to a Habitat for Humanity ReStore. That’s a nonprofit home-improvement store that accepts new or gently used building materials, appliances, furniture, and home accessories and sells them to the public at fantastic prices.
Money from sales goes to help build homes for families, who earn those homes by putting in mandatory “sweat equity” in building the structures.
Recently we remodeled our kitchen, including new lighting. I took in the old lights, expecting them to be rejected because, although in good shape, they’re old fashioned round globe/brass and wood frames. They were happily accepted by the Habitat worker. You can bet I’ll be back with other items and, when I have more time, to shop around.
Most states have a ReStore. Find one in your area by going to www.habitat.org/env/restores.aspx?place=us and searching your state. Then use the place to donate and shop. (By the way, some ReStores will pick up your items at your house. Call to find out.)