Sunday, September 27, 2015 8:10:23 PM
Uproar over price-gouging for old drug shows why alternative media sources are needed
by Egberto Willies for Daily Kos
Sun Sep 27, 2015 at 04:00 PM PDT
[...]
Big drug manufacturers and financial sharks have been buying up generic drug companies and/or the rights to drugs that are way past their patent life for some time now. This was never done in secret. Secrecy, however, was implicitly provided by much of the traditional mainstream media. Yes, one could find much of this information inside the bowels of many publications. It may even have been touched on here and there on radio or television. But the gravity of this practice and the harm that it causes were never given the importance they deserved. Keep reading for more.
FierceBiotech explains the reason why the rights to Daraprim were purchased:
--
Since founding Turing last year, Shkreli has taken a page from what made Retrophin a high-profile–and controversial–player among small biotech companies. Retrophin’s stated goal was ferreting out value in biopharma by acquiring assets with potential in rare and neglected diseases, a process that can mean acquiring an underused drug and jacking up its cost to take advantage of rare disease pricing.
--
Read in context of the effect it has on us all, it's clear that this drug story is a huge one. Yet it somehow morphed into a two-day, hyperbolic story that concentrated more on a snotty, precocious 32-year-old trying to make a sleazy buck. It didn't expose the major problem at the heart of this practice.
VIDEO
Watch any of the major networks and you'll see a seemingly continuous parade of drugs being marketed like candy. Many of the drugs have no business being advertised on TV, as the average citizen without a medical degree cannot discern whether said drugs should even be considered.
The drug ads serve a dual purpose. First, they create a false market as patients request a specific drug, instead of doctors deciding if said drug is best. Second, these ads serve as crack to the corporate media: Mainstream media channels get addicted to the high profits from drug advertising. Does anyone believe the traditional media will run any stories or investigative report on an industry it is beholden to? That's very unlikely.
MORE .. http://www.dailykos.com/story/2015/09/27/1424835/-Uproar-over-price-gouging-for-old-drug-shows-why-alternative-media-sources-are-needed?detail=hide
by Egberto Willies for Daily Kos
Sun Sep 27, 2015 at 04:00 PM PDT
[...]
Big drug manufacturers and financial sharks have been buying up generic drug companies and/or the rights to drugs that are way past their patent life for some time now. This was never done in secret. Secrecy, however, was implicitly provided by much of the traditional mainstream media. Yes, one could find much of this information inside the bowels of many publications. It may even have been touched on here and there on radio or television. But the gravity of this practice and the harm that it causes were never given the importance they deserved. Keep reading for more.
FierceBiotech explains the reason why the rights to Daraprim were purchased:
--
Since founding Turing last year, Shkreli has taken a page from what made Retrophin a high-profile–and controversial–player among small biotech companies. Retrophin’s stated goal was ferreting out value in biopharma by acquiring assets with potential in rare and neglected diseases, a process that can mean acquiring an underused drug and jacking up its cost to take advantage of rare disease pricing.
--
Read in context of the effect it has on us all, it's clear that this drug story is a huge one. Yet it somehow morphed into a two-day, hyperbolic story that concentrated more on a snotty, precocious 32-year-old trying to make a sleazy buck. It didn't expose the major problem at the heart of this practice.
VIDEO
Watch any of the major networks and you'll see a seemingly continuous parade of drugs being marketed like candy. Many of the drugs have no business being advertised on TV, as the average citizen without a medical degree cannot discern whether said drugs should even be considered.
The drug ads serve a dual purpose. First, they create a false market as patients request a specific drug, instead of doctors deciding if said drug is best. Second, these ads serve as crack to the corporate media: Mainstream media channels get addicted to the high profits from drug advertising. Does anyone believe the traditional media will run any stories or investigative report on an industry it is beholden to? That's very unlikely.
MORE .. http://www.dailykos.com/story/2015/09/27/1424835/-Uproar-over-price-gouging-for-old-drug-shows-why-alternative-media-sources-are-needed?detail=hide
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