"They cut a deal that will keep the price high," Mitchell said.
So in the end. We're essentially at square 1 and still unable to give patients the affordable care they so desperately need.
23 Matching Annotations
- Nov 2018
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www.npr.org www.npr.org
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That's because the company can't gain additional market share by undercutting Celgene on price.
This is what's so disappointing about this whole battle. Even if generic manufacturers are able to get access to sell Revlimid, they can't even lower the price because they are unable to gain market share
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Spokesman Brian Gill points to settlement agreements the company has struck with generic manufacturers to begin marketing Thalomid and Revlimid in coming years.
Possible breakthrough for generic manufacturers? We'll see if it holds up.
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"My message is this: End the shenanigans,"
Everyone sees the unethical tactics Celgene is doing and something needs to be done about it.
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On top of the piles of patents and grants of market exclusivity, Celgene is taking additional steps to block generic competition — even after the patents expire — by making it nearly impossible for competitors to get their hands on adequate supplies of the medications
Here I go again, but this is just another way Celgene is blocking competition and should DEFINITELY be illegal. The more I read, the more frustrated I get.
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Five are "drug product" patents which means they pertain to things such as the drug's coating,
Are these more ways Celgene has found to extend the life of its patent?
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Celgene patented Thalomid's distribution system — known in the industry as a Risk Evaluation and Mitigation System, or REMS.
Yet another way Celgene has taken advantages of holes in the system. How they proved this to be unique is beyond me.
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Celgene has used multiple tactics — all legal — to make it nearly impossible for a generic drug to reach the market.
This shows the differences between "legal" and "ethical" everything they have done has been legal. However, it has been extremely unethical as showcased in our piktochart analysis of what Celgene is doing compared to differing ethical schools of thought
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U.S. patent and drug-approval systems are set up specifically to encourage and reward this kind of innovation. Companies that develop new drugs are awarded a monopoly for a handful of years to profit from their invention.
There are good and bad aspects of this "reward system." On one hand, it incentivizes innovation. On the other hand, it creates monopolies, that if left unchecked lead to what is happening with Revlimid. There must be some sort of regulation in place.
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Celgene pulled thalidomide out of the pharmaceutical dustbin and dubbed it Thalomid.
Classic example of how marketing is used to change consumer perceptions by literally just switching around the letters of the name
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But just a few years later it became clear this wonder drug was, in reality, wildly dangerous. It turned out to cause severe birth defects. Thousands of babies were born in Europe with flipper-like limbs.
This is what happens when there is not sufficient testing of drugs before mass production. It's so important for drug makers to take the time and effort for proper research before possible irreversible affects. Drug regulation is so important.
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They exploit loopholes in our system to delay generic entry. In these ways, they extend a drug's monopoly beyond what Congress intended."
This ties back to my previous point about the flaws we can see in our legal system. Their are far too many loopholes that the big organizations know how to take advantage of.
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. Most big drug companies use the same strategy. It's variously called "lifecycle management"
I've never heard of this term till now. Wikipedia states the definition of lifecycle management is "the process of managing the entire lifecycle of a product from inception, through engineering design and manufacture, to service and disposal of manufactured products." Celgene is doing this to maintain tight control of their property at the cost of allowing for competition which helps customers
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Celgene declined several requests for interviews for this story and instead shared some documents and public comments
Oh, I wonder why... They know that what they're doing is wrong and don't want to hear the public's opinion about it.
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thalidomide, that was once sold over the counter in Europe before it was pulled from the market.
This shows you the reason why some parts of our legal system are so inherently flawed. I understand that through patents and intellectual property rights, individuals and organizations are able to come up with creative innovations without worrying about too much competition. However, a line must be drawn when it comes to what Celgene and other drugmakers are doing.
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$430 per dose for Revlimid, or more than $200 million annually for Thalomid and $4 billion annually for Revlimid
There is literally no need to have profit margins this high. Honestly it should be illegal for drug makers to have profit margins more than 50%.
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"Prices like this are bad for patients," said Mitchell, who last year founded the nonprofit advocacy group Patients for Affordable Drugs. "They hurt patients."
This reflects what I was saying earlier. With these prices Celgene may be helping their shareholders, but at the cost of dying sick patients. Not only is that unethical and immoral, but it should be illegal.
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Celgene can keep raising the price of Revlimid because the drug has no competition
This is the heart of the issue and one I truly hope can find a solution.
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senior taking the drug rose from $115 to about $690 per month in the last year.
This is terrible. With the rising number of seniors who are "baby boomers" there will be a much greater strain on the health care system and with rising prices like this, it will only mean more and more people will not be able to afford much needed care.
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This statement in itself should get every head of Celgene fired instantly and thrown in jail. From $6,195-$16,691 in 6 years? That is absolutely terrible and should be illegal.
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www.fool.com www.fool.com
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However, he was adamant about making sure any deal reached was a good one for Celgene. Alles stated that the company absolutely would not settle "out of expedience."
This is classic Celgene behavior. We have seen this in the past, and we continue to see Celgene as a company that won't back out of a fight. Bad for the consumer, good for the shareholders.
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The bottom line is that Celgene plans to replace Revlimid, but not with just one drug. Instead, Alles pointed to four hematology drugs in Celgene's pipeline that he thinks will take the baton from Revlimid and become blockbuster franchises.
Instead of being a "one-cure-all" drug. Celgene is looking to expand its market opportunities. By doing this they can make more money by introducing more than just one blockbuster franchise
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Revlimid contributes 64% of total revenue for Celgene (NASDAQ:CELG). And yet the big biotech's CEO just said that he "wants to make Revlimid obsolete." Say what?
For investors, many may be worried that Celgene plans to let go of 64% of their total revenue but they plan on making that up by diversifying their current offerings to open up more market opportunities and increase their revenues that way. This also begs the question, is Celgene tired of the constant legal battles and patent issues they will soon be facing once it becomes obsolete? By them changing Revlimid into 4 different types of drugs to treat blood conditions this may be their way into continuing their exclusive patent rights.
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