Watch Ocasio-Cortez Ask Pharma CEO Why HIV Drug Costs $8 Overseas But $1,780 in the US

[pdsimdars]

'Spoiler: Because Australia Has Universal Healthcare': Watch Ocasio-Cortez Ask Pharma CEO Why HIV Drug Costs $8 Overseas But $1,780 in the US

"We the public, we the people, developed this drug, we paid for this drug. There's no reason this should be $2,000 a month. People are dying because of it."

During a House hearing on Thursday, Rep. Alexandria Ocasio-Cortez asked the CEO of one of America's largest pharmaceutical companies a simple but crucial question: Why does a life-saving HIV drug that costs $8 a month in Australia have a $2,000 price tag in the U.S.?

Gilead chief executive Daniel O'Day declined to comment on the low price of Truvada for PrEP in Australia, but said the reason the cost is close to $2,000—"the current list price is $1,780," he said—in the United States is because the drug has "patent protection."

As the Washington Post reported in March, the development of Truvada as a treatment for HIV was "almost fully funded by U.S. taxpayers."

The U.S. government patented the treatment in 2015, according to the Post, but has "opted not to file an infringement suit to enforce" the patent even as Gilead—which argues the government patent is invalid—rakes in billions of dollars in profits from Truvada.

continues .. . . .

https://www.commondreams.org/news/2019/05/16/spoiler-because-australia-has-universal-healthcare-watch-ocasio-cortez-ask-pharma

[sinkingfeeling]

1. Shameful.

[yellowwoodII]

2. Outrageous!

Big Pharma is like Big Tobacco. No conscience

[PoindexterOglethorpe]

3. Is the difference really that in Australia

most of that outrageous cost is covered by the government and here it's not? What I'm asking is if the cost of the drug is actually the same in both countries, and the difference is who pays the most of it. Or are they charging less in the other country?

[airplaneman]

11. Its "patent protection."

Which means they get to gouge the hell our of everybody until the patent expires.
-Airplane

[MyOwnPeace]

4. Brilliant questioning...........

and yet watch more wing-nuts go after her with another slam because she is a fighter!

[Jarqui]

5. It's a solid habit with her

And I'm not tiring of seeing it

[MyOwnPeace]

8. She's every bit as effective

and prepared as Senator Al Franken was - and look at how well he was defended by his own.............

[Delmette2.0]

7. She does her homework and develops questions that calls out the hypocrisy

Just what we need right now. I wish we had more like her.

[Hotler]

6. Oh fuck no! This shit has to stop.

One more fucking reason to take to the streets.

[airplaneman]

9. All we need is a simple law.

Any drug developed by taxpayer money will forever remain in Public Domain.

-Airplane

[AllaN01Bear]

14. anything developed with taxpayer monies should remain in the public domain and open source

[FiveGoodMen]

20. Amen

Things like this SHOULD be so obvious that they go without saying, but...

[Volaris]

22. I'd even be willing to give private firms the benefit of the doubt here ,

And say that if they kicked in 20 percent of the RnD money, they can kick up the price by 20 percent.

But they had better be able to damn well produce the receipts when asked, or they can kiss their investment capital goodbye.

As an aside, we need to really start punishing white collar and corporate crime in this country...fines are not enough.

Rip off medicare or the IRS, and your company gets destroyed , you go to prison and you are banned from owning or running another business legally...EVER .

If we have mandatory minimums for pot smokers, we can have mandatory minimums for assholes who embezzle their own companies money.

[Yo_Mama_Been_Loggin]

10. Way to go

[corbettkroehler]

12. As Compelling As Bill Clinton's Balanced Budgets

When I saw this, my mind immediately turned to questions 42 fielded after he left office about how he balanced the budget and led us to forecast surpluses as far as the eye could see (to the point that Treasury stopped selling T-bills and notes). His response? "Arithmetic".

[pangaia]

13. ". because the drug has "patent protection."

In other words, "because we can, so get fucked."

Welcome to Capitalism 101

[AllaN01Bear]

15. eggscllent

[George II]

16. It has nothing to do with "universal health care". We should check the facts on this.

[sandensea]

17. If someone could inject O'Day with truth serum, he'd no doubt say:

"Cause yachts, Fifth Avenue penthouses, and Tuscan vineyards cost a pretty penny, Goddammit!"

[marlakay]

18. If the government won't sue

Can’t we the tax payers who paid for it do a class action suit?

[PufPuf23]

19. This is criminal. Good for AOC.

Why haven't others spoken out?

Who takes $$$ from Gilead and its officers and board members?

[Volaris]

23. What kind of an asshole names their company

after an oppressive, authoritarian, people-hating, government?

Of fucking COURSE a drug company CEO.

[JonLP24]

21. K&R

Didn't know I posted a duplicate. I don't keep up with GD every minute and this was on page 3.

Link to tweet

Link to tweet

[Buckeyeblue]

24. I bet many cancer drugs have the same scenario

I think we are the only industrialized country that allows for profit healthcare. That's one reason I detest doctors. It seems as if it is in their best interest for you to need frequent follow ups, referrals to specialist (spread the love) and prescription drugs (more love spreading).

I'm not saying doctors are bad. Many are good and have a passion for what they do. But how is it not a conflict of interest for doctors to run their business to make a profit?

[at140]

28. My wife's cancer drugs cost $30,000

Per month! Thank God for private insurance out of pocket is max $400/month

[dalton99a]

25. This is a must read.

[brewens]

26. They can't gouge Australians but sell for $8 because that's still a tidy profit. n/t

[True Dough]

27. It's indefensible!

And yet we haven't had a tour-de-force like AOC lashing into these complacent rich big wigs on a regular basis. She rocks!