Sanders Asks VA to Break Patents on Gilead and AbbVie Hep C Drugs

[still_one]

http://www.wsj.com/articles/BL-270B-1942

[LondonReign2]

1. The VA already gets these drugs much cheaper than the article indicates

Both companies have arrangements to provide the drugs at a much lower cost to the VA than the full list price in the article. If I am not mistaken, the actual cost to the VA is around $27K - $30K per patient. The difference with the Hep C drugs, unlike say HIV drugs or high cholesterol, is that a one-time treatment cures the disease, so there is not the need for continuing maintenance costs.

[still_one]

3. That is a big difference, they also discount it. Gild, along with ABT have also

Last edited Wed May 13, 2015, 03:25 PM - Edit history (2)

come down in price

I think proposing to violate the patient laws is not a wise move. I know some think that the costs of drug development, R&D is inconsequential, but going through the development process and FDA approvals is very costly which is why they allow patent protection up to a certain time before generics

[Comrade Grumpy]

9. Oh, boo hoo, poor Gilead: "You Just Won't Believe Gilead's Profit Margins"

http://247wallst.com/healthcare-business/2014/07/23/you-just-wont-believe-gileads-profit-margins/

Gilead Sciences Inc. (NASDAQ: GILD) has now reported its second-quarter earnings. The largest biotech by market cap turned in earnings of $2.36 per share ($3.93 billion) on more than a 100% gain in product sales to $6.53 billion in revenues. Thomson Reuters showed that the consensus earnings estimates were $1.77 per share and $5.82 billion in revenue. The company’s new Sovaldi Hepatitis C drug generate drug sales of $3.48 billion in this last quarter alone – much better than expectations of just under $3 billion.

Since December’s launch, Sovaldi has been prescribed for more than 80,000 patients in the U.S. and Europe. The company is looking forward to making Sovaldi available in additional countries as well.

Gilead now sees sales of $21 billion to $23 billion for the year – versus $22.63 billion expected from Thomson Reuters. Its 2014 gross margin on product sales is being put at 85% to 88% for the year, and the corporate effective tax rate is being projected to 17.5% to 20.0%.

Now you have at least some idea as to why Congress and industry watchdogs are complaining about an $84,000 regimen – or $1,000 per pill.

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Nationalize these fucking pirates.

[still_one]

10. I know why you are comrade.

[libdem4life]

2. I highly appreciate his Bully Pulpit...now he's a D candidate...and it's a subtle call out

to the shamefully high...7 figures in some cases...salaries of the Big Pharma. The argument that they need that money to develop new drugs is just plain hooey. Those funds trickle down through many layers of greed before they reach the Research level.

Thanks, Bernie. I hope they howl real loud so we can go after their nigh treasonous Capitalistic Salaries...and overseas tax havens.

[still_one]

4. You do realize most drugs from inception to approval take about 10 years?

[libdem4life]

5. Really? Who'd have known. Post stands. Greedy bastards.

http://www.huffingtonpost.com/ethan-rome/big-pharma-pockets-711-bi_b_3034525.html Consider it education in place of a misplaced one-liner.

"Here's an outrage that must be changed: Big Pharma has been systematically price-gouging the Medicare program for seniors and people with disabilities -- and raking in billions in excessive profits. The 11 largest global drug companies made an astonishing $711 billion in profits over the 10 years ending in 2012, and they got a turbo-charged boost when the Medicare Part D prescription drug program started in 2006, according to an analysis of corporate filings by Health Care for America Now (HCAN).

The drug companies hold the power to charge America's consumers whatever they want. Worse, Medicare -- the nation's largest purchaser of drugs -- is prohibited by law from seeking better prices. The result of this shortsighted policy is dramatic. In 2006, the first year of Medicare's prescription drug program, the combined profits of the largest drug companies soared 34 percent to $76.3 billion. And unlike other industries, such as Big Oil, drug companies get something even better than a tax subsidy -- they get a government program"

[Holly_Hobby]

6. Sovaldi is available to anyone

with an income of less than $100,000 per year, for a family. There is grant money available, as well as from Gilead, Sovaldi's manufacturer. Here's the phone numbers:

Grant #1 - P.A.N.S. - 866-316-7263
Grant #2 - P.A.S. - 800-532-5274
Gilead - 855-769-7284

Start with calling Grant #1. After that program, call Grant #2. Then Gilead.

http://mysupportpath.com/

The website will allow you to find out about Harvoni too.

http://hepcfriends.activeboard.com/

That website is full of Hep C people, who've had treatment or are seeking treatment and have been a valuable resource to a family member with Hep C.

Although I'm grateful for what Mr. Sanders suggests, some people don't have time to waste, therefore I'm providing this information.

[still_one]

7. I think government assistance or grants are the way to go. Going

against patent laws are not the answer in my view.

[Holly_Hobby]

8. My family member had Sovaldi in hand within

3 months of contacting grant #1. There was no cost to her.

That being said, she relapsed after treatment. But I do know others who took Sovaldi, and they're still cured after several years.

[still_one]

11. That is terrible. So there are cases where it doesn't work