General Discussion
In reply to the discussion: 60 Minutes is covering Big Pharma [View all]Victor_c3
(3,557 posts)Corporation come in, control everything, then they have to figure out how to keep getting growth year-after-year for their stock holders.
Innovations and productivity boosts and cutting labor costs only go so far. After a while they have to turn to straight-up fraud.
I watched a good documentary about big pharma on Netflix recently (it was one of the episodes of the show dirty money. Basically, the company ramped up prices on a drug and people with insurance dont notice the rising costs as their copays remain the same. The people without insurance or those who lose health insurance get royally screwed when s drug that used to cost $16 now goes for over a $250 (or more). Also, the costs paid are eventually passed to all consumers - so we are all being frauded by these greedy companies.
I dont have a problem with someone being a millionaire if they are actually doing something to earn it, but artificially jacking up prices of medications at the expense of all Americans for no reason other than to increase your profits for your stock holders is just plain evil. Its not like medications are something we can live without. If it was being done by a shoe company I wouldnt even raise an eyebrow. Id just buy my shoes from someone else. You cant do that with meds, many of them are controlled by patents and whatnot.
Everything medical needs to be nationalized for the good of our nation.