We are in a recession, money is tight but VHI decide to raise prices by 23%

[redstar]

Re: WE ARE IN A RECESSION MONEY IS TIGHT BUT VHI to raise prices by 23%

I suppose some of the increase is going to pay for the very heavy media advertising campaign that VHI are running these days

 

[diarmuidc]

Re: WE ARE IN A RECESSION MONEY IS TIGHT BUT VHI to raise prices by 23%

The production cost of a tablet is typically less than 5 cents and this includes the packaging.The tablet is made from talc, sucrose a few chemicals mixed together. Now I know there are R&D costs, clinical trials and FDA approval for the original patent but once a pharma company receives a patent they're covered from any competition for 10 years unless they decide to licence the patent.

Seeing as you are accusing the pharma companies of profiteering, can you give us an idea of the cost of bringing a drug to the market?

Johnson & Johnson, the largest pharma company in the world has a profit margin of 17% last year, hardly creaming it.

 

[ubiquitous]

Re: WE ARE IN A RECESSION MONEY IS TIGHT BUT VHI to raise prices by 23%

Johnson & Johnson, the largest pharma company in the world has a profit margin of 17% last year, hardly creaming it.

And in the pharma sector, profits can very quickly turn to dust when something goes wrong with a drug. Look at the ups and downs of Elan as an example.

 

[Purple]

Re: WE ARE IN A RECESSION MONEY IS TIGHT BUT VHI to raise prices by 23%

The production cost of a tablet is typically less than 5 cents and this includes the packaging.

That's for the second tablet, the first one costs hundreds of millions.

 

[clownie]

If you decide to go private without health insurance some consultants won't see you. This happened my mother