On 60 minutes, how did the Pfizer guy...

[slor]

say he could reduce drug costs? Did anyone watch? TIA

[Mark Williams]

1. I have

it on my hard-drive. I haven't watched it but I could post it if you think its clip-worthy.

[kittenpants]

2. basically importing them and repackaging them when necessary.

Europe & Canada of course have much lower drug costs so even with the repackaging they're cheaper.

[oscar111]

3. "18 % profit margin"- so profits NOT go to research

the claim,
"prices high because we need all possible profits to do the expensive development research for tomorow's pills"

if squeezing profits just barely all into expensive research, then how is it that bottm line leftover profits are 18 percent, while avg Fortune 5OO corporations only make three precent?

clearly, Big Pill raking in excessive profits from US hi pill prices.

Source: tv interview with the former editor of NEW ENGLAND JOURNAL OF MEDICINE, on the release of her new book. I think her name was Snow.

[NNguyenMD]

4. the research is coming from the tax dollars we give to NIH

NIH funded labs in Bethesda and the grants they provide to researchers all across the country make breakthroughs and publish them nationally all the time. The materials, methods and plan is all there for the drug companies to tinker with. Trust me, Pharm industry contribution to research while substantial pales in comparison to what Joe and Jane taxpayer throws into the research pot.

To say that pharmaceutical companies are alone responsible for drug breakthroughs is a a bald face lie. (I'm not referring to your post btw just my own opinion)

[icehenge]

5. American drug company rebuttal to his suggestion

is worth mentioning also. Their reasoning was it wasn't "safe" because
the more hands that touch the product can lead to unknown dangers.
Just scare tactics in my opinion.

Then the host asked the drug companies (that package and resell drugs
in Europe) if there had been any health problems reported. None he
said.

[RUMMYisFROSTED]

6. I get my prescriptions at cost.

The markup is sometimes as high as 1500%. Two bucks instead of thirty.

But hey, it's not a scam!

:patriot:

[kittenpants]

7. how do you manage that? are you Canadian or something!

[RUMMYisFROSTED]

8. My company owns a pharmacy.

As opposed to a pharmacy owning my country.