Seems like everybody is raising money for a charity of some kind
I know several NASCAR drivers raise big money for charity and several trust funds do the same
I can't begin to list everybody that raises huge amounts of money
Many of these charities try to find cures for cancer or?? name your own good cause
In total we are talking a lot of money
On the other hand we hear of people that can't afford the price of needed medication
Bbig Pharma has been accussed of gouging on low cost drugs that people need and pay huge prices, for low cost production of some medication
Of course one could buy stk in these Co.'s and share the profit, but if you can't afford the medication can you afford to buy the stks
Me thinks there should be somebody to study the cost and bring this price gouging to public attention and hand out hefty fines plus force a reduction in price
If the situation is serious enough then management needs to be responsible with personal fines and possibly jail time
Pharma should make a reasonable return on investment but there has to be a limit with a date in front of a judge and jury, if price gouging is as bad as some report
Let a judge and jury make the decision, if penalties are needed, or not, if that may be the decision of a jury
Also, does Pharma have a responsibility to cure sick people or just
keep selling pills to keep the patient alive but not cured of the sickness
Should an independent medical body look for cures and Pharma just sell medicine and make a just return on investment
Is pharma incentivized enough to look for cures or just the next wonder drug to keep you alive and buying their pills for as long as possible
Finally, I wonder how much of my contribution to the cancer society etc is actually
used for medical research and how much is overhead such as management salaries bricks and mortar etc.
I know this is a complex question, but I wonder what the forum thinks
I think Met Mike had some very interesting thoughts on this subject, but others might have thoughts as well
Anybody watching the All Star game
I am listening [sort of] to the TV in the other room
Game is 2-2 at the time of this post, unless I am not listening close enough
We don't need more regulation and fines. We need less. Relax the patent laws. When a pharmaceutical company has a government imposed monopoly, they can charge pretty much anything they want. OTOH, If one guy was to say "I'd be happy with a 500% profit instead of a 1000% profit", it would not be long before another guy would say, "I'd be happy with a 250% profit", and so on. Eventually, the price would get down to the lowest sustainable level.
Competition is the best price regulation there is.
" We don't need more regulation and fines … .Competition is the best price regulation there is. "
New laws would have to come from Congress or Executive Order. Fat chance.
Competition is a great regulator. Too bad Monopoly's seems to be the order of the day.