Politics Finally a political leader looking out for us!

Discussion in 'The Howard Stern Show' started by Bosch76, Jul 14, 2016.

  1. Bosch76

    Bosch76 2016 Politics POTY Gold

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    You seen those commercials for that Hep C pill?

    http://www.huffingtonpost.com/rep-bernie-sanders/taxpayers-funded-a-lifesa_b_10968542.html

    Gilead sells a drug called Sovaldi, which is used to treat the hepatitis C virus. The drug was developed with taxpayer funds by a researcher who worked at the Department of Veterans Affairs and founded a small drug company. Gilead bought the company for $11 billion, acquired the government-provided monopoly rights and set the price at $1,000 per pill, or $84,000 per treatment in 2013.

    U.S. public and private insurers, taxpayers and patients spent more money on Sovaldi in 2014 than on any other prescription drug. Gilead made its investment back in less than a year.

    ....

    Meanwhile, Gilead’s profits have quintupled since it started selling the drug, from $4 billion in 2013 to $22 billion in 2015.

    It gets worse. The Americans for Tax Fairness report finds that Gilead has dodged nearly $10 billion in U.S. taxes.

    How is that possible?

    Gilead claimed that despite making “two-thirds of its revenues here and charging higher drug prices than anywhere else in the world, it made only about one-third of its profits in the United States,” according to the report. The company pays an effective tax rate of just 1 percent in the foreign countries where it claims to do business. And in 2013, Gilead’s chief financial officer said the formula for Sovaldi was being transferred to Ireland in order to lower the company’s effective tax rate.

    The strategy worked: Gilead’s worldwide effective tax rate dropped from 27 percent in 2013 to 16 percent in 2015.

    At what point do we say our tax system, our publicly funded research and our patent system are not serving the public interest? At what point do we realize that they have been distorted to serve the private interests of a few billionaires like John C. Martin, Gilead’s CEO until this past March, whose compensation peaked at almost $200 million in 2014? At what point will Congress have the courage to stand up to the greed of the pharmaceutical industry and say enough is enough?

    Last year I asked the Department of Veterans Affairs to use an existing law allowing the federal government to break patents in order to make hepatitis C drugs available to veterans. I also introduced a bill last year, the Corporate Tax Dodging Prevention Act, which would tax all profits of American corporations the same way regardless of where they are earned. This would eliminate the incentive for companies to hide their profits overseas.

    I have also supported legislation that would lower costs for consumers by rewarding developers of medicines on the basis of a drug’s benefit to consumers. Under such a system, Sovaldi would have been awarded a substantial monetary prize as it represented a major advancement for patients with hepatitis C, but under my proposal, the drug would immediately come on the market as a generic drug, saving consumers a decade or more of paying exorbitant prices for brand-name drugs. I also strongly support instructing Medicare to negotiate drug prices and reducing the barriers to the importation of prescription medication from Canada and other countries.
     
  2. JameGumb

    JameGumb We're all out of toner!

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    Stop fucking shemales and you won't get hep c.
     
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  3. JameGumb

    JameGumb We're all out of toner!

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    I'm sorry, that was cruel.
     
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  4. rogmar

    rogmar Well-Known Member

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    TRUMP 2016.
     
  5. reno

    reno VIP Extreme Gold

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    I'm thinking of going to Taco Bell for lunch today. Does Gilead make anything for gas?
     
  6. Beth143nacho

    Beth143nacho Well-Known Member VIP

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    Each state has a budget to supplement drugs for its citizens. The sovaldi prescriptions in Oregon use up the entire
    Budget for the state of Oregon. One drug bankrupts that budget.

    That being said, there's a lot of misleading information in that article. Gilead quadrupled profits, but they don't mention that sovaldi isn't what did it. There were mergers/acquisitions, other drugs in the pipeline that went to market, etc. the cost of $1000/pill is also not astounding. It takes a lot to develop and approve drugs. $80k is cheap for some drugs (my company makes a drug that costs over $300k/year to be on.). It's all about market size (the 300k drug has maybe 5000 people worldwide on it). Hep c is a decent size, but it's not aspirin.
     
  7. TallTyrion

    TallTyrion Triggered like a mofo VIP

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    @Bosch76 why do you say us? You got hep c kid?
     
  8. LonghornJ

    LonghornJ VIP Extreme Gold

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    Then why does that exact same pill sell for $4 in India?

    http://www.chicagotribune.com/business/ct-drug-price-sofosbuvir-sovaldi-india-us-20160104-story.html
     
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  9. yaddc

    yaddc Well-Known Member

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    Pam Anderson has a cure