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Pfizer says it will price Covid treatment Paxlovid at nearly $1,400 for a five-day course, which researchers estimate only costs Pfizer $13 to produce. That's a 10,000%+ markup. Shameful. (mastodon.world)

submitted 11 months ago by i_have_no_enemies@lemmy.world to c/technology@lemmy.world

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[–] Kaavi@lemmy.world 8 points 11 months ago (2 children)

Sounds crazy they are but allowed to negotiate?

Is that the same for anything else the government buys? I can't imagine the army buying 100 tanks and just paying the first price they get?

[–] Kecessa@sh.itjust.works 21 points 11 months ago* (last edited 11 months ago)

It's a constitutional thing, government has to guarantee the companies' freedom to set the price they want or something totally moronic like that...

In fact it's the first time the government will be able to negotiate with pharmaceutical companies!

https://www.reuters.com/business/healthcare-pharmaceuticals/us-judge-refuses-block-medicare-negotiating-drug-prices-2023-09-29/

[–] TeamAssimilation@infosec.pub 2 points 11 months ago (1 children)

It's like

– Arms dealer: Each tank cost me 500,000 dollars to make. Give me 5 billion for each.

– Let's negotiate. How about 500 million instead?

– Arms dealer: Fiiine, but only because you're a good client.

[–] dirtbiker509@lemm.ee 1 points 11 months ago

This is legitimately how it works in the US between insurance and pharma/medical.

I just had a baby and I added up the total bill from the hospital and it was $100,000. We were in the hospital for 3 days. My insurance "negotiated" it down to $26,000, and I paid $3000.

The $100,000 is completely made up from the beginning. Pharma and medical just slap big ass ridiculous numbers down, then the insurance fake negotiates down to a still completely ridiculous number, then that cost has to get eaten by people who pay into insurance, which is basically everyone.