Goldman Sachs asks in biotech research report: 'Is curing patients a sustainable business model?'

[CousinIT]

The billionaires are asking: Is curing diseases (like polio) a good idea if it affects big pharma's profits?



https://www.cnbc.com/2018/04/11/goldman-asks-is-curing-patients-a-sustainable-business-model.html

[Clouds Passing]

1. Time for a brand new economic model that doesn't include obscene profits.

They are making us sick on purpose.

[Raven123]

5. Perhaps a no-profit model

The confirmation of what we all knew to be true never ceases.

[Think. Again.]

2. And there it is.

They're not even trying to hide it anymore.

[hatrack]

3. Here's a more detailed quote from some sociopath or another . . .

“The potential to deliver ‘one shot cures’ is one of the most attractive aspects of gene therapy, genetically-engineered cell therapy and gene editing. However, such treatments offer a very different outlook with regard to recurring revenue versus chronic therapies,” analyst Salveen Richter wrote in the note to clients Tuesday. “While this proposition carries tremendous value for patients and society, it could represent a challenge for genome medicine developers looking for sustained cash flow.”

[displacedvermoter]

17. What's the classic line...???

The operation succeeded but the patient died?

[Mosby]

20. This is evidence that the capitalistic model in health care is not working.

Nt

[sop]

4. Trump Iron Lung, Inc.

[Raven123]

6. Business is addicted to the subscription model.

Maybe we need a vaccine against that

[SharonAnn]

11. In Economics, this is called the "Rentier" model. A type of Feudalism, actually. People "rent/subscribe" from "Owners"

[durablend]

34. Well there is one...

But as we've seen, that's kind of illegal and apparently worthy of the death penalty.

[ok_cpu]

42. Saw a meme the other day that said

"somewhere a tech bro is working to figure out how to shut down your eyeglasses if you don't pay your monthly subscription," and it felt true.

[The Unmitigated Gall]

7. If these fucks could

Find a way to establish ownership of the air you breathe, they would. And they’d charge you for it.

[in2herbs]

9. Nestle is finding ways to establish ownership of the water the world drinks so maybe your

comment is not too far off.

[Quixote1818]

23. Have you seen this?

[in2herbs]

32. Not this video in particular but I have been following Nestle's world wide efforts to buy water

rights for years, and I have seen the video where the CEO of Nestle said that water is not a right. I figured it get little attention in the US because it wasn't directly affecting the US -- yet.

[atreides1]

8. Love of money!

Corporations are evil, in every definition of the word.

[Irish_Dem]

10. This is why they want people to get very sick.

Drug sales.

[William Seger]

13. And this is why governments should NEVER be run like a business

The purpose of a business is making a profit, full stop.

[RainCaster]

12. April 2018- old news

[Boomerproud]

22. Still their belief though.

Always has been, always will be.

[in2herbs]

33. Do you have more current info to share? nt

[Farmer-Rick]

14. The problem with letting the masses

Suffer needless diseases in order to get them to pay for continued therapy for those injuries caused by those diseases is that they die.

The unvaccinated masses will eventually die from a lot of those diseases they let spread. So, no more money for the corporation. Dead people don't pay bills.

And of course the diseases mutate and develope resistance as they spread. And then low and behold, the CEOs and their families catch the newly evolved disease that are resistant to their vaccines.

Diseases have a funny way of getting around antibiotics and vaccines when they are allowed to spread continually and are exposed to the vaccines or antibiotics. Perfect recipe for evolving supper diseases like we have evolved antibiotic resistant bacteria thanks to the excessive use of antibiotics.

[Nasruddin]

16. IBGYBG

[Linda ladeewolf]

15. No cures will ever be found,

Because if cures are found, people can be treated, cured, and won’t need drugs anymore. Charities collect millions, and do research and no cures are ever found. If a cure is found even for childhood diseases, the charities become redundant, no longer needed. Whatever would the CEOs and staff do for a living? Treatments are where the money is.

[dobleremolque]

26. Case in point: The March of Dimes in the late '50s and early '60s. It was

one of the largest "find a cure" charities in the country. Focused on polio. March of Dimes funded researchers and had a large nationwide paid staff, as well as paid staff in each state to coordinate volunteer fundraising efforts.

Along comes Dr. Jonas Salk, and it all becomes superfluous. Lots of jobs gone, just vanished. March of Dimes thrashed around trying to redefine and reinvent itself and settled on "eliminating birth defects", but it never again dominated the U.S. charity landscape like it did when polio was in the national consciousness.

Other organizations in the "race to find a cure for (insert medical scourge here)" business certainly saw the March of Dimes as an object-lesson. Supporting a goal that will put you out of business if achieved, is a tight line to walk.

[Old Okie]

18. cures

As someone who used to be involved in the pharmaceutical business. I can tell you that nobody is looking for one shot or one dose cures; its all about which drugs will make the company the most money for as long as they can stave off generic competition. Even drugs that show promise in trials are discarded if they want be blockbuster drugs in terms of profit. Once the beancounters are in carge, only beans matter.

[Passages]

19. The lesson some still seem to have not learned is that you can't take their

money and still control them in a significant meaningful way.


Pick a side.

[patphil]

21. Is curing patients a sustainable business model?

I worked for a Pharmaceutical company for 36 years, and I will always remember what one of the company VP's said to us at a Quality Control/Quality Assurance meeting.
He said that the company was more interested in a medicine that provide the patient with an acceptable quality of life, and not necessarily a cure.
He said that if you cure/heal a patient, you lose a customer.
Imagine if, for instance, you could take a tablet for a month and be cured, as opposed to taking a similar medication for life to control the symptoms. It's the difference between perhaps 50-100 dollars as opposed to thousands of dollars.

This is their philosophy. Greed Over People.

[BoRaGard]

25. Those are G.O.P, "values" that Goldman Sachs is pimping

This is what the repubes are all about.

[Ocelot II]

27. More money can be made off chronically ill people

than if they are cured completely.

[Mustellus]

28. But letting them die....

... is less sustainable.

[E. Normus]

29. The mission statement

of any Nation should be to get and keep it's people healthy and disease free. We have a health care system that would collapse if people were actually more healthy and disease free. Talk about a conflict of interest. It seems to make no sense!

[Bo Zarts]

30. Is frequent sharpening of the blade of the guillotine a good business model?

I say not. Let it get dull.

[marble falls]

31. What else does record breaking profits and the fact that over half the nation is some prescription. or right now ...

... that the most prescribed are statins, to reduce the 10% of cholesterol your body itself doesn't produce, say about the US health industry.

Do the police and prisons want to stamp out crime or just make dealing with it manageable?

[Historic NY]

35. Maybe the wrong CEOs were targeted.

Its always the money changers

[marble falls]

40. I can allow that thought in the face of any numbers of calls for the mass execution of Democrats and ...

members from government, and the military by a President's elect's supporters.

[MustBeTheBooz]

36. As I've said for years now...

There is a cure for cancer, … but, we’ll never see it so long as there are organizations whose business model (and profits) depend on not having a cure.

[Hekate]

37. From 2018 -- so where are they on pandemics?

[otchmoson]

38. This isn't new.

In 2006 my husband self-published a book entitled: "Too Profitable to Cure." In it he described the market takeover by the insulin-cartel that promoted genetically-engineered insulin. He wrote to senators, congressmen, medical professionals and pertinent government agencies imploring them to retain natural animal-sourced insulins. His pleas fell on deaf ears. In the years since, he has become a "consumer" of products promoted by the insulin cartel and their adjuncts--health insurers, pharmacies, pharmacy benefit managers, doctors, durable equipment manufacturers, etc. Costs have soared; his life is more complicated; he is tethered to an insulin pump and continuous glucose monitor required by today's fast-acting engineered insulins.

In the 1960s, his diabetes-related monthly costs were less than $20. It would be hard to guesstimate today's costs since they include Medicare and private insurance premiums. And though many of his costs are NOT out-of-pocket, the mere fact that Medicare pays (monthly) to rent his $5000 insulin pump (paid in installments over 36 or 48 months), covers his insulin (probably at a cost to them of $400/month); and pays for the equipment needed to keep his continuous monitor going (I think this costs someone about $5 a day), and REQUIRES semi-annual doctor's visits, you can say that the diabetes industry CERTAINLY would buy into the premise that curing a disease is NOT a good business model.

(Apologies if this sounds whiny.) The fact that he has lived with the disease for 68 years is astounding, and just being able to afford to continue to live with the disease instead of being dead because of it is miraculous. When the soaring cost of insulin was newsworthy, I mourned for those who literally could not afford the insulin needed to keep themselves alive. If you are NOT diabetic, or know someone who is, you may not appreciate what President Biden did when he capped insulin prices. He saved lives. But sadly, the disease is still TOO PROFITABLE TO CURE.

[mike_c]

39. fucking vampires