Rep Mick Mulvaney This Is Why Big Pharma Can Price Gouge In America


Rep Mick Mulvaney This Is Why Big Pharma Can Price Gouge In America

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[Rep Mick Mulvaney This Is Why Big Pharma Can Price Gouge In America]

[Mick Mulvaney:] Source:
Cause I gotta tell you, is someone who considers himself to be a free market Republican. Part of me has been uncomfortable with where some of this hearing has gone I wish we were talking, instead of what we’ve been talking about, about why Mylan can charge $600 for this or $300 for a generic or whatever. Because I think that would be a really good discussion about why this same exact product, costs between $100 and $150 in Europe. The same exact thing, from the same exact manufacturer costs $100 to $150 bucks in Europe, in fact I think you can get it over the counter in Europe for $75.

One of the reasons by the way is that there’s 9 different people making this stuff in Europe. Because it’s easier to get drugs approved in Europe Mr. Throckmorton than it is here. I heard you talk today about this new ten month plan and you keep telling us and it’s sort of – ‘well we have a ten month plan that starts October 1st’. Which makes me wonder how long did it really take before, this became a big national deal, my guess is it takes a long time to get this stuff approved.

And one of the reasons they can charge $300 or $600 dollars is because it’s too hard to get new products approved in this country.

My understanding is that an EpiPen competitor would be even more difficult to get stuff approved because it’s both a drug and a delivery device. By the way for those you when this hasn’t come up the stuff doesn’t cost anything. This is one of the oldest chemicals that we – that we use. I think this stuff is more than a 100 years old. And on the Internet it says it costs between like $0.10 and $0.95 a vial for the stuff. It’s a completely generic, it’s adrenaline. It’s really easy to make this stuff and really easy to get this stuff but for some reason in this country. There’s really only one provider.

So if you can really charge $600 for it, and people will pay for it.

Why aren’t more people rushing in to make this stuff so that they can get a piece of this huge market. Because it’s too hard to get the darn stuff approved. And that’s what I wish we are talking about. Ms. Bresch I wish we could talk about what you talked about your CNBC article about how crazy the pricing is. Because it is bizarre and we buy stuff in the healthcare market in ways that we don’t buy anywhere else. The reason that this same product is more expensive every single year, with everything else in this room gets less expensive every year; is because it’s in the healthcare market, which doesn’t function properly.

And we could have talked about that and how hard it is to figure out how much stuff costs in the five and six people that touch it before – between the time it comes out of your product and gets in the hands of the customer we didn’t talk about that.

Instead we talked about your profit margins, with people who have no clue what that means.

We talked about distribution facilities, we talked about cost of goods sold, we talk about board meetings.

We talk about your salary.

[Mick Mulvaney:] Source:
We talk about a bunch of stuff that tries to make a lot of us look really good. Somebody in my own party said that there’s no way you could really earn $18 million a year that bothers me. Ok.

And I’m not comfortable with that.

But the same time Ms. Bresch and I’ve had this conversation with other people who’ve sat in that same chair. You get what you deserve. Not because you’re a bad person. Not because you’re charging too much or too little for a drug. Nobody in here has any clue as to whether or not, that you’re charging too much or too little. We don’t like it. We know that but we don’t understand the cost we don’t understand the distribution system. We don’t understand how healthcare products get priced and sold and distributed, I tell you what we do know though, is that you’ve been in these hallways to ask us to make people buy your stuff.

Like I think there’s laws in 11 states now that require schools to have Epinephrine in some immediately deliverable fashion.

You have lobbied us to make the taxpayer buy your stuff.

At the federal level we passed the law here, we did it by the way I was here when we did it. Everybody was here when we did it. We did it in 2013, it went by voice vote one of those magical things that happens when we’re not on the floor. The White House called it the EpiPen bill and it gave this wonderful financial incentive to all of our schools to have this product in the schools.

My guess is that didn’t happen by magic, it may have happened because your mother works for the State School Boards Association whatever the group is or it may happened because your dad is a U.S. Senator. But you came and you asked the government to get in your business. So here we are today and I was just uncomfortable with some of these questions as you are – I am certain sitting over there.

But I have to defend both my Republican and Democrat colleagues because you’ve asked for it. So I guess this is my message.

If you want to come to the Washington. If you want to come into the state capitals and lobby us to make us buy your stuff. This is what you get.

You get a level of scrutiny and a level of treatment that would ordinarily curl my hair but you asked for it.

[Mick Mulvaney:] Source:
I wish it weren’t like that. I wish you could go off and make your stuff and I wish the market functioned and I wish you didn’t get government involved but that’s not the world we live in. And since it is, I have to defend every single question that was asked of you today and I wish I had questions of my own and I do but I’ve only got five seconds left. So I’m not going to get a chance to ask it. Thank you Mr. Chairman.

Rep Mick Mulvaney This Is Why Big Pharma Can Price Gouge In America

Rep Mick Mulvaney This Is Why Big Pharma Can Price Gouge In America

Rep Mick Mulvaney This Is Why Big Pharma Can Price Gouge In America. It costs between like $0.10 and $0.95 a vial for the stuff. Complete Full Transcript, Dialogue, Remarks, Saying, Quotes, Words And Text.

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