this post was submitted on 23 Jul 2024
352 points (99.7% liked)
World News
32027 readers
870 users here now
News from around the world!
Rules:
-
Please only post links to actual news sources, no tabloid sites, etc
-
No NSFW content
-
No hate speech, bigotry, propaganda, etc
founded 4 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Accounting for 30% profit seems reasonable to me.
Yet they're selling it for 1000x the price.
I understand they need to recoup research costs, but...
I have no other words.
Except they don't even need to do that, because, as is with most pharmaceuticals, the research was almost fully funded by the taxpayer.
And the 30% profit is for a generic product, so the research has already been done.
So yeah, 30% profit is of course much better than 3000%, but both are still obscene profiteering off of a lifesaving product paid for by, and then essentially withheld for ransom from, the general public.
cough I believe if 40$ means 30% profit, then the cost to produce it is 28$. With the current price of it being 42,250$, this means the profit rate is 42,250$/28$*100%=150,892%.
In words, one hundred fifty thousand percent.
It's insane. Even if I am wrong and it's 3000% or 30,000% profit on a product funded by tax-payer money, it's insane and should be criminal.
By that logic, the profit on software (which is free to copy) is infinite. You need to look at revenues minus costs for the whole company, not for the specific act of manufacturing a pill.
Yeah, I wasn't really paying that much attention, and went off of OP reply's 30 x 1000 and then missed out a zero lol
But yeah, it only gets more despicable the more accurate the numbers are..