Pharma Exec: “Moral Requirement” to Charge as Much as Possible for Drugs

[luckyshot]

Move over pharma bro... Nirmal Mulye (real name) wants to compete for front seat in Hell.

“I think it is a moral requirement to make money when you can, to sell drugs for the highest prices.”

This was his justification for raising a life saving antibiotic from $475 to $2350 a bottle.

https://www.cnn.com/2018/09/11/health/drug-price-hike-moral-requirement-bn/index.html

This is the logical conclusion, by the way, of the unregulated, libertarian capitalism the Right regularly argues for. Every once in a while a CEO sociopath is just autistic enough to say it like it is.

We need UHC, and we need it now.

 

[IDL]

Hah, wonder what his rationale is behind that one

 

[The ScorpioN]

 

[HomerThompson]

I feel a moral imperative to punch that guy in his stupid face.

 

[all caps]

I respect his honesty.

 

[Neph]

He seems like a bit of a dick

 

[Seaside]

Move over pharma bro... Nirmal Mulye (real name) wants to compete for front seat in Hell.

“I think it is a moral requirement to make money when you can, to sell drugs for the highest prices.”

This was his justification for raising a life saving antibiotic from $475 to $2350 a bottle.

https://www.cnn.com/2018/09/11/health/drug-price-hike-moral-requirement-bn/index.html

This is the logical conclusion, by the way of the unregulated, libertarian capitalism the Right regularly argues for. Every once in a while a CEO sociopath is just autistic enough to say it like it is.

We need UHC, and we need it now.

The Right wing in 99% of world does not. Only the American right wing is sort of or has people like this.

Right wing in a lot of other countries is NOT for unregulated capitalism. In some countries it is socialist economics but conservative or religious and nationalist social policy and foreign policy.

 

[Seaside]

Move over pharma bro... Nirmal Mulye (real name) wants to compete for front seat in Hell.

“I think it is a moral requirement to make money when you can, to sell drugs for the highest prices.”

This was his justification for raising a life saving antibiotic from $475 to $2350 a bottle.

https://www.cnn.com/2018/09/11/health/drug-price-hike-moral-requirement-bn/index.html

This is the logical conclusion, by the way of the unregulated, libertarian capitalism the Right regularly argues for. Every once in a while a CEO sociopath is just autistic enough to say it like it is.

We need UHC, and we need it now.

Should edit your post and clarify American right wing is like this. And its an unfortunate thing.

 

[Trotsky]

Hah, wonder what his rationale is behind that one

The same rationale of all capitalists: that it's the job of the firm to maximize profit, and that that is its only duty.

And, if we're talking about a maximally efficient economy and government, there's a good argument that he's right. Corporations should only be concerned with maximizing profit and market share, and the government should play the affirmative role of limiting, curbing, or foreclosing their action when it contravenes public interest.

The problem is that idiots vote for the Republican Party who say that these legal entities (corporations) will behave morally and should be deregulated to guide our country's policy trajectory. And I'm not even going to represent that Republican Party members (unlike voters) are actually stupid enough to believe that. They're not: they're just corrupt pieces of shit.

 

[Andy Capp]

Move over pharma bro... Nirmal Mulye (real name) wants to compete for front seat in Hell.

“I think it is a moral requirement to make money when you can, to sell drugs for the highest prices.”

This was his justification for raising a life saving antibiotic from $475 to $2350 a bottle.

https://www.cnn.com/2018/09/11/health/drug-price-hike-moral-requirement-bn/index.html

This is the logical conclusion, by the way of the unregulated, libertarian capitalism the Right regularly argues for. Every once in a while a CEO sociopath is just autistic enough to say it like it is.

We need UHC, and we need it now.

But hey, got rid of those pesky consumer protections. Winning #amiright?

 

[Cubo de Sangre]

This is the logical conclusion, by the way of the unregulated, libertarian capitalism the Right regularly argues for.

If it weren't for regulation undermining competition then anyone could make the drugs and charge less.

 

[oldshadow]

Any government money for any research the company gets should be pulled as well stopping all research cooperation.

 

[Renard]

I guess technically he does have a responsibility to his shareholders. But he also has a responsibility to not hurt his company by doing large price hikes that cause public outrage and loads of negative publicity.

 

[Neph]

If it weren't for regulation undermining competition then anyone could make the drugs and charge less.

Barrier to entry is huge which is part of why monopolies form. The time from company inception to profit can be extensive and it is a very risky business to be in as you may simply not be successful in whatever drug you are trying to discover. Regulation (within limits, nothing can be said to be pure black and white) is good because it saves lives and should be embraced by the industry as it improves the publics trust in them.

 

[DIDM]

Hold the train

He’s a fucking Democrat, stop lying to try and make a point

 

[Cubo de Sangre]

Barrier to entry is huge which is part of why monopolies form. The time from company inception to profit can be extensive and it is a very risky business to be in as you may simply not be successful in whatever drug you are trying to discover. Regulation (within limits, nothing can be said to be pure black and white) is good because it saves lives and should be embraced by the industry as it improves the publics trust in them.

Thanks. And?

 

[Liquid Smoke]

Hah, wonder what his rationale is behind that one

It provides incentive and capital to produce new drugs.

 

[IDL]

The same rationale of all capitalists: that it's the job of the firm to maximize profit, and that that is its only duty.

And, if we're talking about a maximally efficient economy and government, there's a good argument that he's right. Corporations should only be concerned with maximizing profit and market share, and the government should play the affirmative role of limiting, curbing, or foreclosing their action when it contravenes public interest.

The problem is that idiots vote for the Republican Party who say that these legal entities (corporations) will behave morally and should be deregulated to guide our country's policy trajectory. And I'm not even going to represent that Republican Party members (unlike voters) are actually stupid enough to believe that. They're not: they're just corrupt pieces of shit.

Duty isn't morality though. I read the article, it is pretty convoluted and disjointed as to what he actually meant specifically about morality, but it seemed he was saying that it was about the business surviving and sustaining jobs? It's hard to tell. Either way, you can often equate a business surviving to making money for shareholders (and themselves). Certainly not easy to separate the two things, and also it is easy to hide behind a desire to do good for others while lining your own pockets.

 

[Liquid Smoke]

Any government money for any research the company gets should be pulled as well stopping all research cooperation.

I agree. Big Pharm should be financing more basic science that benefits their bottom line.

 

[Fawlty]

I feel a moral imperative to punch that guy in his stupid face.

Then charge him a hundred bucks for a tissue to wipe his nose.