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Irish Health Minister For Health (Leo Varadkar) Slams Greedy Drug Companies.. Plus.. Pharma CEO, Martin Schkreli Is Arrested For Fraud..

Pharma CEO Martin Schkreli is Arrested For Fraud

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The Irish Health minister, Leo Varadkar, made some very damning comments about the pharmaceutical industry recently:

http://www.irishtimes.com/news/politics/oireachtas/leo-varadkar-says-dealing-with-drug-companies-brings-out-the-socialist-in-him-1.2470334

“…Minister for Health Leo Varadkar has condemned the “greed incorporated” in drug companies and said dealing with some of them brought out “whatever socialist instincts may be buried in me”.

His Dublin West constituency colleague and Socialist Party TD Ruth Coppinger had said ordinary people were held hostage by the “profiteering of these companies under our capitalist system. That is why I am a socialist and why I believe health should be a priority.”

She called on the Minister to negotiate a cut in the price of the new Orkambi drug for cystic fibrosis which the HSE estimates will cost €90 million a year. Ireland has the highest cystic fibrosis rate in the world .

Mr Varadkar agreed drug companies “overcharge and use patients as pawns” and in some countries hired PR…

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2 Responses

  1. Physician Payments from Manufacturers Released

    The Physician Payments Sunshine Act, passed under the Affordable Care Act, requires all pharmaceutical and medical device companies to report payments to physicians, including consulting fees, gifts, speaking fees, meals, travel, and research grants. This information is searchable to the public on a database called Open Payments, managed by the Centers for Medicare & Medical Services (CMS). A recent study by researchers at University of California, San Diego School of Medicine analyzed this database and compared payments among different specialties and identified which ones topped the list. The study was published online the week of January 4 by Mayo Clinic Proceedings.

    Researchers scrutinized 2.4 million physician payments totaling $475 million made during the last five months of 2013. Internal medicine and orthopedic surgery received the greatest total value at $111 million each. By plugging in the first and last name of a physician on the Open Payments site, an individual can see industry payments listed by company, nature of payment, date, and amount.

    Source: Michelle Brubaker, UC San Diego Health [1/4/16]

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  2. Pharma Companies Paid 618,000 Physicians $2 Billion in 2015

    ProPublica recently released updated statistics for their Dollars for Docs database on pharmaceutical industry payments to US physicians. Here are some key findings from the report:

    • From 2013-2015, companies paid $600 million a year to teaching hospitals.
    • Companies made $2 billion in general payments to 618,000 physicians each year.
    • 1 in 4 doctors who received a payment in 2015 didn’t receive one in 2014.
    • Blood thinner Xarelto ($28.4 million) was the top payer to physicians in 2015.
    • Arthritis drug Humira made $24.9 million in payments to physicians in 2015.
    • Diabetes drug Invokana made $20.9 million in payments to physicians in 2015.

    Source: ProPublica, December 13, 2016

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