Cancer Drug not available in Canada

[Bobblehead]

One of the world's most costly cancer drugs will not be marketed in Canada because the distributor can't charge the price it wants -- one a federal board has found to be too high.

Interesting case. While I favour drug companies being able to recoup development costs, this seems a very cold decision to have made. I wonder if the cross-border prescription drug "problem" is what is scaring Bristol-Meyers Squibb.

The cost in US$ is $24,000. In Western Europe, it is EU$ 4,000 (approx Can$5,677). It sounds to me like the drug company is afraid of losing their US cash cow.

As for how the price is typically priced:

That's because when a new drug is introduced, the Patented Medicine Prices Review Board scrutinizes the prices being commanded in Germany, France, Italy, Sweden, Switzerland, the United Kingdom and the United States. The Canadian price cannot be the highest of those countries; typically, it is set at the median of them.

Link

[mykalberta]

Doest matter whether its drugs or beer - companies have an ethical oblicagation to all shareholders (I hold shares in squibb) to make as much money as possible.

So go cry me a river somewhere else.

MYK

[jolinar of malkshor]

Originally Posted by mykalberta

Doest matter whether its drugs or beer - companies have an ethical oblicagation to all shareholders (I hold shares in squibb) to make as much money as possible.

So go cry me a river somewhere else.

MYK

I will laugh my head off if you are the one who needs this treatment.

[Bill Bumface]

Originally Posted by mykalberta

Doest matter whether its drugs or beer - companies have an ethical oblicagation to all shareholders (I hold shares in squibb) to make as much money as possible.

So go cry me a river somewhere else.

MYK

Which is exactly why the fast food chain I've invested in should find a country with lax agriculture standards and pump their cows as full as groth hormone as they possibly can while grazing them on former nuclear test sites.

Grab a #####ing brain you insensitive prick.

[jolinar of malkshor]

Originally Posted by mykalberta

Doest matter whether its drugs or beer - companies have an ethical oblicagation to all shareholders (I hold shares in squibb) to make as much money as possible.

So go cry me a river somewhere else.

MYK

You must work for Enron.

[Bring_Back_Shantz]

Originally Posted by mykalberta

Doest matter whether its drugs or beer - companies have an ethical oblicagation to all shareholders (I hold shares in squibb) to make as much money as possible.

So go cry me a river somewhere else.

MYK

No, businesses have a professional obligation to make a profit.
They have an ethical obligation to conduct their business in an ethical or moral manner.

Does this mean that every oil company in Canada is practicing bad business practices by contributing to community programs in the communities they operate in?

Good finances and good business are not necessarily the same thing, and they are most definatley not mutually exclusive.

[Vulcan]

Originally Posted by mykalberta

Doest matter whether its drugs or beer - companies have an ethical oblicagation to all shareholders (I hold shares in squibb) to make as much money as possible.

So go cry me a river somewhere else.

MYK

Sounds like this company would make a good target for nationalization.