My argument is that obscene profits are made and at the detriment to a lot of sick people. I do not think medicine should be a for profit business.
Steve Jobs
- Thread starter Phantasmal
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My argument is that obscene profits are made and at the detriment to a lot of sick people. I do not think medicine should be a for profit business.
cawacko
Well-known member
So the government is going to step in and pay the billions that private investors do now? Yes, I can definitely see that happening (and yes that was sarcasm).
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The Almighty
Agree to disagree? All I asked for is an example or two of medical technologies or medicines that have been created by non-profits. Surely there are at least a couple?
The base research the government funds, then private investors take patents/ideas and expand upon them using the available research. I invested six figures in a bio tech private placement. It is working on imaging agents to help detect cancer and pinpoint it more exactly to reduce the need for broad radiation. If the company fails, I lose my investment. If it works, I should not be entitled to make something for the risk I am taking?
christiefan915
Catalyst
Our drugs can be sold under a brand name for 12 years before generics kick in.
So, it is your own personal greed, I see.
Cawacko. do some research, thanks!
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The Almighty
Personal greed? LMAO.... so tell me Rana, what should I do with my money? The people working for this company would not have jobs if people like me didn't invest in the endeavors like this. This imaging agent would NEVER ever ever Never ever have a shot of making it to market if private money didn't invest in it. Almost 90% of drugs fail during trials, procedures like this companies fail about 70% of the time. The point is, you wouldn't HAVE the new medical breakthroughs without the private investments. You would not have the private investments if people could only invest and LOSE money.
So what are you proposing? That we stop trying to cure cancer? Stop trying to improve lives through better treatment programs? Stop trying to build new machines that will allow people to live longer?
Why do you want people to suffer and die Rana?
cawacko
Well-known member
And what will that show me? Where is the money going to come from that private investors currently provide if we eliminate it?
Personal greed? LMAO.... so tell me Rana, what should I do with my money? The people working for this company would not have jobs if people like me didn't invest in the endeavors like this. This imaging agent would NEVER ever ever Never ever have a shot of making it to market if private money didn't invest in it. Almost 90% of drugs fail during trials, procedures like this companies fail about 70% of the time. The point is, you wouldn't HAVE the new medical breakthroughs without the private investments. You would not have the private investments if people could only invest and LOSE money.
So what are you proposing? That we stop trying to cure cancer? Stop trying to improve lives through better treatment programs? Stop trying to build new machines that will allow people to live longer?
Why do you want people to suffer and die Rana?
Cancer research wont stop, sorry, it continues in other countries where their approach to medicine is much healthier!
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The Almighty
LOL... no matter how many times you try and avoid it... the vast vast vast majority of medicines and technologies that liberals DEMAND today, were created and developed because of CAPITALISM. Very few advances have been done without the private investment. It just doesn't happen.
Even in those other countries with the 'approach to medicine' you like.... their companies STILL are FOR PROFIT.
Just because the government pays for the health care, doesn't change the fact that the government is paying a profit to the drug companies over there or the medical device/pharma companies over there.
Sanofi, GlaxoSmith, Roche, Astra, Bayer.... half of the top ten Pharma companies come from countries like FRANCE, Germany, UK.... do those countries not have the 'approach to medicine' you are referring to?
USFREEDOM911
MAKE AMERICA GREAT AGAIN
Care to explain how my Brother-in-law was able to get a kidney transplant then??
cancel2 2022
Canceled
I have shares in both AstraZeneca and GlaxoSmithKline but I am impressed with the pharmaceutical industry in Cuba. For such a small country they have an enviable record of world beating drugs. If the US had any sense they would be investing in Cuba rather than shunning them.
http://thepharmaceutical-news.com/why-is-cuba-a-leader-in-biotechnology-research-and-production
http://www.ipsnews.net/news.asp?idnews=49490
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signalmankenneth
Verified User
R.I.P Steve!
cawacko
Well-known member
When I worked in brokerage South San Francisco was in my market. South San Francisco is home to Genetech and as a result of their presence dozens of other bio-tech firms flocked to S.S.F. Many of these firms were of the start-up variety that didn't yet have a drug to market. Theses firms had raised hundreds of millions of dollars in VC funding.
Please tell me where that money would come from or how those companies would exist if there was no private investment in them.
I told you already, non profits! it is already being done!
I'll take a guess....
because they don't do 10, 20, 30, 50 years of expensive research costing millions and 10's of millions of dollars....They wait until one of our big corporations does the work and makes the discoveries...., then copy the recipe and abracadabra....cheaper medicine....
wrong, again! that make about 100% inaccuracy rate for you!
My argument is many discoveries were made for profit.
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The Almighty
There you go Rana..... get him.... Tom is profiting on health care!