Why Pharmaceuticals Are So Complicated In The U.S. | CNBC Marathon

CNBC Marathon explores why pharmaceuticals are so complicated in the United States.
Concerns over prescription drug prices have grown into a big political issue, with nearly one in four Americans saying it's difficult to afford their medications, according to a March 2019 poll by the Kaiser Family Foundation. Pharmacies technically set their own prices for generic drugs, but there are other players involved that complicate the process.
Johnson & Johnson, the biggest pharmaceutical company in the U.S. based on market cap, announced in November 2021 it plans to spin off its consumer business into a new publicly traded company by November 2023. Analysts overwhelmingly say it’s a smart business move, but it could also come with some risks.
Meanwhile, the U.S.'s approval of Biogen's Alzheimer's drug Aduhelm was heralded as a historic triumph in the fight against the memory-robbing disease. But so far, Biogen has reported only a fraction of Aduhelm revenue to meet Wall Street's expectations. Patients and physicians have been torn over the drug's murky clinical data and its high price tag. Aduhelm's lackluster launch has been costly, forcing Biogen to take measures to keep the drug afloat.
For Covid-19 vaccine maker, BioNTech, they had little recognition outside of their hometown of Germany prior to the pandemic. Over a month and a half before the World Health Organization officially declared a pandemic, BioNTech CEO Uğur Şahin met with his wife, BioNTech’s co-founder and chief medical officer Özlem Türeci, and together they agreed to redirect most of the company’s resources to developing a vaccine. The founders were confident in the potential of their mRNA technology, which they knew could trigger a powerful immune response. That confidence wasn’t necessarily shared by the broader medical community. No mRNA vaccine or treatment had ever been approved before. But the couple’s timely breakthrough was actually decades in the making.
CNBC Marathon brings together the best of CNBC on KZbin.
Chapters:
00:00 Introduction
00:31 Why U.S. pharmacies overcharge (Published August 2021)
16:35 The rise of BioNTech (Published October 2021)
34:21 Why the biggest pharma company in the U.S. is breaking up (Published January 2022)
45:42 What’s the controversy behind Biogen’s Alzheimer’s drug? (Published January 2022)
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Why Pharmaceuticals Are So Complicated In The U.S. | CNBC Marathon

[@nogod7184]

Pharmaceuticals is not the only complicated thing in the US. Everything is complicated in the US. Take an example, health insurance. There are many plans, policies, classes,.... Or buying a house: opening cost/fee, closing fee, escrow, finances, fixed rates/flex rates, .... At the end of your life, things are still complicated: burial options, locations, type of graves. I'm not making this up: When we buried my father, the cemetery director asked me : "Do you want double layer or single layer in your dad's grave?" Single layer means no other casket could be placed on my dad's casket. Double layer means another casket, be that my mom's or a family member's, could be on top of my father's. Each option had its different price when they sold you the burial lots. Greed. Greed. Greed.

[@carkawalakhatulistiwa]

Universal healthcare first existed in the Soviet Union in 1918. In 1948, Article 25 of the Universal Declaration of Human Rights (UDHR) stipulates that health is a human right that cannot be capitalized or given a price tag. And after 100 years,All developed countries have universal healthcare, even in poor countries like Cuba. but except the USA which still puts a price tag on health. for the reason that this is Universal healthcare is a crime of communism kzbin.info/www/bejne/aKO0ZJtmabp5hpI

[@hankfonseca3178]

becuase your country leeches off US

[@KoolMonkE]

People refuse to acknowledge how scummy our society has become because they have this notion stuck in their head that doing so is socialistic. It's so infuriating how much the elite have divided our society with the excuse of "capitalism is freedom".

[@kaypee4704]

Funeral greed...they play on the emotions of the bereaved.....‼⁉️🇺🇸

[@alexcarter8807]

Everything. is. for. profit. So it makes it more profitable to make it very complicated where you have to pay at each step.

[@syedbilalnafees2002]

It still baffles me that America, the 'greatest nation on earth' doesn't have universal heath care or subsidised medicine

[@tonybrownlowe2272]

......we all KNOW why

[@hermeslein6614]

Becuase America is hyper capitalist country to fill their power and greed

[@nogod7184]

And American people are at the mercy of pharmaceutical companies. They snap a finger and we jump.

[@carkawalakhatulistiwa]

@@tonybrownlowe2272 Universal healthcare first existed in the Soviet Union in 1918. In 1948, Article 25 of the Universal Declaration of Human Rights (UDHR) stipulates that health is a human right that cannot be capitalized or given a price tag. And after 100 years,All developed countries have universal healthcare, even in poor countries like Cuba. but except the USA which still puts a price tag on health. for the reason that this is Universal healthcare is a crime of communism kzbin.info/www/bejne/aKO0ZJtmabp5hpI

[@ManSeekingChrist]

It’s not the greatest nation on earth for sure

[@AlexIsUber]

Two-thirds of all personal bankruptcies are due to medical bills. In US you’re 1 series medical issue away from having money to filing for bankruptcy

[@designexplainedllc346]

That's why most people have assets in real estate and vehicles. Can't take away those in a bankruptcy over surprise medical bills.

[@annieothername]

“Most people”? That’s demonstrably and statistically incorrect. Your cars and properties can be seized in the US due to personal bankruptcy and/or have such incredible debt that keeps someone from even paying off real estate or their vehicles. Many are stable with these assets, but it makes policy conversations more complicated when we are honest about how in debt many in the US are

[@kaypee4704]

Avoid medical bills by eating healthy, exercising and monitoring your own lab results....and work on improving the bad lab results....there are many good YT videos on health and eating good natural foods....2023: grow your own foods and herbs....Read labels and select Organic ingredients....

[@igorschmidlapp6987]

@@kaypee4704 Don't make me laugh.

[@DimensionalGaming4]

There goes that house you spent your whole life paying on.

[@Apex_Yonko]

The solution is to not get sick or injured or have any health complications whatsoever.

[@raoulhery]

That requires another take on another big evil industry....the food industry

[@healthytruth1363]

ABSOLUTELY ❗️❗️❗️ YOU MUST NEVER EVER GET SICK....DONT GET SICK AT ALL ❗️❗️❗️ THIS IS THE WORLD WE ARE ALL LIVING IN ❗️❗️❗️

[@karlabritfeld7104]

Very true but impossible

[@healthytruth1363]

@@karlabritfeld7104 ....IT IS POSSIBLE....meaning....try not to get sick all the time ❗️❗️ Living a healthy lifestyle WITH LESSEN STRESS.....it can be possible ❗️❗️❗️ MAKE IT HAPPEM.....SEND POSITIVE VIBES GOD BLESS 🙏🙏🙏🙏

[@Starry_Night_Sky7455]

Ah, suicide if things get too bad. Medical tourism for all else. Some field medicine DIY yourself like it's still 1899.

[@TheWizard856]

I did a report on this industry for an ethics class. This industry is one of the most evil things that still exists.

[@joe7665]

Pure evil

[@yengsabio5315]

Do you have a white paper of your report that we can download to read? Thanks in advance!

[@raoulhery]

Let's hope the COVID roberry will open people's and gouvernments eyes

[@kojosmith1210]

Evil, but, maybe, necessary.

[@detroitmetro101]

i used to think that the most greedy sector of our healthcare system was the insurance companies, but i was wrong all along, its the providers, doctors, hospitals, and pharmacies, that are greedier...they charge us and the insurance companies as much as they can, squeezing every penny they can.

[@wism3179]

Pharmacies and doctors are so extra in the US. In Mexico, you go to a doctor and get your medicine without all this BS for less than 30 bucks. Same medicine, same stuff

[@karlabritfeld7104]

Same in Canada

[@irose4066]

In India, insulin cost around 3$ but in USA 100$. Oh god. Better I live in other countries. Earnings of all money went to hospitals and companies.

[@Acteaon]

It’s true. I got a doctor visit for a throat infection and my antibiotic for $25. It shouldn’t be this hard as the USA makes it out to be.

[@PinkHawk191]

My insurance company fights to not cover medications. Even if I have been on the same medications for several years. They need prior authorizations which are a waste of time and energy for me and my doctors. They keep trying to make me go back on medications that don't work for me.Insurance companies are another issue.

[@annieothername]

Insurance companies are middle-man extortion centers. Hospitals and medicinal care staff aren’t involved and they leave consumers in the dark. I’m sorry you had to deal with those complications

[@extra_ice_girl]

@@Pants69 Because people don't want to leave their family and friends and jobs in other countries are hard to find.

[@bjtibbs6436]

@@Pants69 It’s not like it’s easy to just pick up and live in another country. You know how hard it is to find an employee abroad willing to sponsor?

[@jmalljmall]

And Benefit investigations

[@bobbiusshadow6985]

Yup, in the US, we have HealthExtortion, not HealthCare.

[@kelly747k]

The problem is that discount cards are also used to collect your information for sale to data brokers and other companies that want to harvest and aggregate as much information about you as possible. And that's a huge problem in this country.

[@nunurbiznis4749]

They want to know *all* the ways they can make you dependent upon them. That’s sadly how businesses thrive here.

[@obifromohio3006]

wouldn't credit cards already be doing this?

[@FTBASTAR]

So what you're saying is that health insurance companies need to be abolished?

[@duancoviero9759]

That would have a very interesting effect, because Hospitals and Pharmaceutical Companies price everything for insurance not patients. Insurance is the customer not the patient.

[@criessmiles3620]

Only God can help America The country is plagued with greed Cheers from west Africa 🦅

[@TheFalseShepphard]

Who knew humans were greedy! Thank you "Cries & Smiles" for opening my eyes (!)

[@antojames9387]

UK, Germany, Canada, France, Nordic Countries... - Democracy USA - Corporatocracy

[@underachieveruno]

@@antojames9387 aka Oligarchy

[@jordicarvajal2834]

The healthcare and pharmaceutical industries in the US is all about making big money.

[@antojames9387]

@@underachieveruno Americans are basically lazy to strike or fight for their rights (recent amazon employee strike is an exception). Majority of them don't even understand what's the difference between social democracy and socialism. So corporate looting and government cheating naturally occur there.

[@blackseabrew]

My primary medication, as of 2019, was $19,500/month. In 2008 it was just $860/month. That's not a typo. The raw materials to make this medication did not change in price during this 11 years. I could literally make it for $40/month. But I would get thrown in a cage.

[@johntitor414]

thats just sick. can you not get those medication from Mexico? or get them delievered from China?

[@blackseabrew]

@@johntitor414 Nope. Made in one place on the planet. The USA has only one distribution point in St. Louis: an Express Scripts specialty distribution center. And they only ship FedEx. Even if you are a St Louis resident. Locked down for sure.

[@johntitor414]

@@blackseabrew yes, but they only charge those prices in us because they bought all the us politicians. they charge much more reasonable prices elsewhere in the world. for example here in Uk's NHS we usually only allows around 15% profit on top of cost for the drugs. and from chinese student i know in China although us drug companies force chinese government to sell the drug at high prices, but their government has decree to mandate shops to also sell super generic version, but they are not allowed to advertise the generic version as demanded by us drug companies so it might be tricky to find

[@karlabritfeld7104]

But then from Canada.

[@breakingbadenterprise328]

What medication is it?

[@KazenoniKakuremi]

CVS is both a PBM and a pharmacy - and their PBM's also negotiate with non-CVS pharmacies? How is that even allowed lol - they can literally see and set prices for their competing pharmacies!

[@FixitAgain69]

My dad has alzheimer's. We can't spend 26k/year that's a joke companies that price these treatments so high are just the devil

[@user-sl3zv8cq9k]

those expensive medicine are not effective long term, try diet and life style change. search Doctor Berge's channel for Alzheimer treatment.

[@MrGreen-dp4oz]

It's not complicated. It's called greed.

[@misdrevenous]

God Bless Mr. Sahin and Ms. Tureci. They have good hearts.

[@pradeepmagan6951]

What a joke, the US needs to have one buying agency which negotiates prices for all prescription medicines

[@karlabritfeld7104]

They're making tons of money. Why would they change anything?

[@peace8373]

The pharmaceutical industry is a monopoly. They can charge anything they want for the drugs. The retail pharmacies are oligarchs, there are only 3 chains that do most of the business. This is not capitalism, this is not a free market, this is a protected industry that rips off both the citizens and the insurance industry. The insurance industry can pass on the cost with higher rates, so it is you the consumer that pays and pays, as there is no real competition. To think they should be able to act this way shows how money buys a politicians vote.

[@karlabritfeld7104]

Uhmmm, excuse me but that IS the definition of capitalism.

[@peace8373]

@@karlabritfeld7104 monopolies are not capitalism.

[@Trenton.D]

@@peace8373 unfettered capitalism always leads to monopolies. Capitalism is about money and greed, and someone will always be willing to sell for money. That ultimately leads to a few company buying and controlling everything. They then work in cahoots to control and raise prices in the name of profit.

[@lorettab6092]

CVS Health lies about how much they save. PCMA lies about giving us choice of pharmacy. Adam Fein gets a lot of money from PBMs. NCPA tells the truth. Many independent pharmacies will offer a lower cash price than insurance. With insurance, the PBMs will often tell retail pharmacies and independent pharmacies to charge a higher price. Sometimes, pbms will require the patient to pay more than the cash price at an independent pharmacy.

[@lamasbelladelmundo]

This went from being about Why Pharmaceuticals Are So Complicated In The U.S. to a one hour ad for pharmaceutical companies. According to this ad pfizer is a great company.

[@blipblop92]

The fact that pharmacists get paid over $120k a year on average tell me that a lot of opportunities for good jobs are not being taken.

[@AskforQAli]

Entry to profession is hard. "Lot of studying " for 120k /yr job. Where a KZbinr makes more than that. Supposedly.

[@kamilareeder1493]

A lot of people don't want to because people may not want to work for cvs or Duane reade/Walgreens and you basically have no other choices ☝️☝️

[@carkawalakhatulistiwa]

Universal healthcare first existed in the Soviet Union in 1918. In 1948, Article 25 of the Universal Declaration of Human Rights (UDHR) stipulates that health is a human right that cannot be capitalized or given a price tag. And after 100 years,All developed countries have universal healthcare, even in poor countries like Cuba. but except the USA which still puts a price tag on health. for the reason that this is Universal healthcare is a crime of communism kzbin.info/www/bejne/aKO0ZJtmabp5hpI

[@DaigenHyorinmaru]

Actually the pharmacist market is over-saturated, driving their wages down of late.

[@raoulhery]

even more than that with that COVID mess. Nowadays, Pharmacists get paid more than lawyers or mayors, sickness is the new Gold rush

[@bebopnola]

CVS has astronomical costs for all items, not just meds. It is truly ridiculous their prices for items like household products and snacks.

[@scarlol1800]

extrabucks

[@steflift5165]

And yet CVS are #4 on the Fortune 10 list

[@genxx2724]

A friend commented CVS raises its prices because of shoplifting. We paying customers are paying for the things thieves took. I never buy toiletries or household supplies there unless I’m in a pinch. I buy at Target.

[@jnovikoff001]

It's a convenience store that happens to sell drugs. Period.

[@lokesh303101]

If you encourage generic drug manufacturing, then it's easy to reduce health care costs.

[@lordofrodinia5033]

According to my financial adviser Bryan Anderson", now is the best time to trade or invest, buying BTC and ALTS and most stocks with a DCA strategy. I just can't imagine what my portfolio would look like in the next leg up, but have already got 2x my $30k thousand dollars am fine and out.

[@lordofrodinia5033]

his

[@jurgen7540]

I also believe Even when bitcoin is not moving forward, You can still make so much money despite the current fall in bitcoin, very true, with the right strategy and consistency, and Bryan offers the best right now.

[@npc2480]

The hardest thing about being a pharmacist is deciphering the doctors handwriting.

[@akdream5313]

Same issues From Somalia

[@designexplainedllc346]

What kind of doctor still writes prescriptions? It's all electronic nowadays and recorded.

[@extra_ice_girl]

@@designexplainedllc346 I had a specialist 3 years ago who still used a pad.

[@ravinasta4256]

They are too arrogant to write simple letters

[@monanoorchaalida4462]

@@extra_ice_girl ?

[@alanprather8399]

Every pill is cheap, but the first one cost 5 billion dollars. look up how much pharma equipment cost. it has to be stainless steel and clean room ready. it worse than saying wedding when your buying something.

[@donnam5060]

"Call around"...they won't give prices over the phone due to some drugs being abused. Discount cards resell and track your info...like everything else.

[@dailydoseofmedicinee]

Great topic, thanks👏

[@kampferpl7759]

Same old day… follow the money.

[@nanucit]

Why is it that on every investigation where something is failing in the USA I repeatedly hear the word "choices" as the good reason it's a complete mess? What REAL choice you have when you can't afford any of those choices.

[@karlabritfeld7104]

None

[@CoreyChambersLA]

When the government controls your health, the government controls you.

[@karlabritfeld7104]

The government is not in charge of the health care industry. It's the insurance companies.

[@ryanmaris1917]

I’m screwed as a type 1 if I ever find myself without insurance. Insulin is insanely expensive and I really don’t know what I would do if I couldn’t get it through my insurance.

[@duancoviero9759]

I hear quite a few people who have the means go out of the country to get their insulin and that the price differences are crazy.

[@pranaym3859]

Just move out, US is beyond repair

[@ryanmaris1917]

@@duancoviero9759 i think people going to Canada is quite common.

[@ryanmaris1917]

@@eawil-sunart problem is, type 1 is an auto immune disease where my body's immune system destroyed the cells that actually produce insulin. In type 2's it's a resistance to insulin but their body hasn't destroyed the cells so changes to diet and exercise can often have a big impact if started early. Also insulin has be derived from animals since before the 1930s. (1922 was the first time we injected insulin to treat someone)

[@eawil-sunart]

Yes I’m srry

[@dafaa863]

In France, we receive no charge on medications !

[@zuzanazuscinova5209]

You pay for it through taxes

[@incognitofelon]

@@zuzanazuscinova5209 Yeah as if Americans don't pay taxes. Duh.

[@randygeyer7673]

It appears the pharmaceutical manufacturers are trying to shift the blame for high cost to anyone and everyone. We know where the profits are going.

[@SammyleeFx]

buy and order 🍄🍫 from👆🙏🏾

[@andrewposner6703]

The idea that consumers have a choice with their insurance of pharmacies is quite a distortion. For example, I have CVS Caremark as my insurance provider. I am allowed to go to any pharmacy of me choosing for a 30 day supply or 1 initial 90 day supply, of which I am allowed one of per medication per year (for maintenance drugs). Otherwise, I am only allowed to use CVS or Caremark’s mail in pharmacy. If they do not use one of their pharmacies, and my maintenance drug is not covered. I do not understand how that is legal.

[@andrewposner6703]

@Alex Lifeson bingo!!!

[@BraganzaJohn]

All about money and greed.

[@jordicarvajal2834]

Exactly

[@fboomerang]

Why does a six-month supply of insulin cost $100 in Mexico for the same person that needs to pay $1,300 for the same exact insulin through her insurance company in the USA?

[@Trenton.D]

Price gouging.

[@anttikalpio4577]

It’s 100 bucks everywhere in the world except America.

[@holmbjerg]

Because PBM's takes profits on top of the cost.

[@tonyvaldes8352]

Words of an elderly lady(R.I.P.)my wife took care of..."Here they will prescribe medication for hair,nails,skin,etc."A multi million dollar business.

[@qentrepreneurship9987]

We were wainting for this!!

[@LVXMagick]

You used the wrong C word, I think you meant to say corrupt not complicated. The word pharmaceutical comes from a Greek word that means Black Magick. It isn't complicated. It was made corrupt.

[@monanoorch8699]

?

[@shawnleong3605]

Totally agrre

[@mikerock8177]

So true CVS and Walgreens the same medication for different or mostly the same but across the street at a grocery store chain the price was dramatically cheaper 20 to $25 at the other place $7 at the grocery store

[@karlabritfeld7104]

Pays to shop around

[@cheesemaster113]

CVS caremark is terrible, any prescription I have ever had has required prior authorization.

[@CRP3252]

2:39 humph, flashback to the beginning of the March 2020 lockdowns and liquor stores deemed "essential" for staying open lol

[@littledaddy30]

Washing down the medication is important

[@r.t.2118]

I love how on 3:50 a man has the bottle on the background and then the next photo is that exact bottle but on the old phrmacy picture

[@waltdill927]

The first thing you see at a hospital in a country with universal health care is NO BILLING DEPARTMENT.

[@user-ds8fq8cp2f]

I stopped using corporate pharmacies. They kept saying my meds are rare..they cant get them..whatever.. i use a private now and no issues

[@obsoletepowercorrupts]

If the (largely Texas) Border-Wall railway train _(which btw should be built and intended to make profit from various things including cargo and passenger rail and ecology cash-crops, all tracked or planned via OAUth2 and OIDC)_ had a dual-gauge track so that it could have a 3Metre gauge as the larger wide tracks, on the train, suitable (expandable) containers resembling double shipping containers could be placed together _(joined, as they are about 2.5Metres wide each, once expanded if need be)_ so a 5Metre wide double-width shipping container could sit on a train flatbed like a carriage. It means a mock-up could be easily made in a location far from the railway by using two actual shipping containers if retrofitted with equipment correctly (for planning or training). You'd get an hospital train theatre in that and the one behind it could be something like a pharmacy or chemist or dispensary (for limited medicines). A dental carriage could be deployed too (possibly up to MaxFax). If that hospital-train were to be deployed for a week in April and then another week in October (6months apart), for a one year pilot scheme trial of the train, it would mean that medicines and surgeries would be predictable via graphical linear inequalites for logistics because they (the medical staff) know when the train is due (April and October), and also because all patients would need to have a registration-certificate in advance (a4-certificate, laminated) via Oauth2 and OIDC for OIDC service-provider and identity-provider via the train's SimpleSAMLphp server running on a raspberrypizero2w and amd64 SBC (or intel SBC) running skole-linux. even though a RISC (or possibly RISC-V) server for the SimpleSAMLphp server would exist, at some point a CISC CPU (basically amd64 or intel) server _(e.g. an intel SBC or i5 or a Ryzen or Athlon or PowerPC)_ for SimpleSAMLphp would exist as part of that system, for skole-linux, even if a Pine64 or pinebook/pinephone ran as part of it all. A village hall in that State (and a State next to it) could also provide a marquee registration day in advance, printing the A4-certificates (unique to each registered user for patient and staff with many a QR code on it). Collaboration with local medical buildings mean that they too would know what healthcare they might sometimes (but not always) plan for (come April and October) if they too recognised the OAuth-OIDC A4-certificates. The train would not be a co-operative, however, if an independent bricks-and-mortar nearby were a co-operative, it is the sort of logistics model (for medical supplies) they would be likley to be able to plan for _(since they'd know when the train was timetabled and might take Oauth-OIDC timetables in advance)._ A large pharmaceutical company could also do that because they are large. It would depend on a case by case basis, who did what (if at all). The point of the logistics though is that either a small co-op or large company could plan for the train so it helps them all. There are some things an hospital train does not do. An example is that it is unlikely a train would be able to account for radiation safety in the cardiac catheterization laboratory, since a bricks and mortar hospital does that. Staff and customers who use an hospital train as private healthcare (or workplace healthcare package) know it is only for limited health treatments, and then their healthcare vouchers list those _(like pricing on a dental surgery wall shows as a paper A4-poster on a wall in the waiting room)_ and those vouchers would then expire every 4 years _(in line with an April or October Long-Term-Support 4year voucher),_ and so some of those "about to expire" vouchers (if unused) would be eligible for donation to a local-person-patient _(essentially as a form of philanthropy-healthcare from the staff-member or private customer patient)_ so all those people are registered each with an unique A4-certificate via OAuth-OIDC for OpenID federated login. On account of the fact that sometimes smoe operations require drugs like antibiotics, a prescription Rx would be part of that operation voucher. Sometimes though, a voucher would pay some fraction of the total cost or the entire cost, depending on what that medical treatment entailed. Scalable logistics (for Rx-drugs and surgery) and known quantity train timetabling for thet philanthropy-healthcare (April and October) is more likely to be affordable (bulk buys as an example) via OAuth and OIDC registrations on a skole-linux server. The train runs for the private and staff healthcare for other times of the year too. It is more scalable and smaller than changing an entire system over all states. The staff healthcare vouchers are not insurance per se, but rather a voucher redeemable against some things on the treatment list and you ether use it or you don't. For example, you have a dental-root-canal voucher and you either use it in that 4years or you don't (and it expires upon 4years). After that 4years, upon still working there, you get another voucher replacing that same medical-treatement or instead some other treatment list. Doctors on the train are contracted to the train. A doctor who teaches other doctors on the train has tenure on a carriage (or a tenure share with another doctor). It is known that people with health-packages _(which might be the hospital-train or an insurance package or NHS)_ also use health-tourism especially in other countries and plan their comparison shopping to fix their health problems in an order they have planned for. People like to mix one-off private healthcare treatments with such behaviours too. An OAuth2 and OIDC A4-certificate (unique to them as a person) for federated registration allows for them to plan for that. A voucher system (hospital train) like that does not pretend to replace everything in healthcare and instead works in a way that knows people will probably deliberately move form healthcare to tourism elsewhere. It makes other healthcare systems (be it private, charity, co-op, philanthropy or NHS) able to provide (e.g. sell) patients treatments they otherwise would not have considered being able to opt for. For example, a person who saves their tooth via root-canal on a voucher could then consider to do dental tourism to get braces fitted or veneers via a private dentist unrelated to thet hospital train _(because they have enough teeth to actually succeed at doing it)._ Initial training of doctors/health-staff on that train means a loss-leader occurs, especially performing what is essentially a large part of philanthropy healthcare on some local people in need, however, after that training period, the loss-leader means profits can happen and the doctors/healthcare-staff are under contract to that hospital train, so they cannot just vanish. My comment has no hate in it and I do no harm. I am not appalled or afraid, boasting or envying or complaining... Just saying. Psalms23: Giving thanks and praise to the Lord and peace and love. Also, I'd say Matthew6.

[@obsoletepowercorrupts]

The following is to add detail to my above comment. To be installed on linux monolithic kernel computers (such as SBC or MITX PC loading a debian blob) where possible, on hospital trains would be Free Open Source Software (FLOSS as in Libre where possible). It would be scalable such as across (heterogeneous computing) OpenCL1.2 and OpenCLl2 and OpenCL3 _(using community graphics drivers where possible)._ SciLab would be installed for coding development (such as Fourier analysis) including using OpenCl _(which can also be installed with SciLab not just on a Ryzen SBC but also on a Raspberry Pizero2W and Pi3b or Pi3b+ for GPU and CPU A53 processing)._ Open Health Imaging Foundation (as per the OHIF site) would be considered where using it as GNU (such as GPL2) is possible for deployment. Coding languages favoured would be C++ and Python and PHP with MariaDB _(so Open Database Connectivity ODBC to MongoDB is done under Server Side Public License SSPL where GPL2 alone is not possible)_ and Javascript and R and Ruby for remaining true to GNU (e.g. GPL2, FLOSS, CopyLeft) where possible (and extending in future to GNU where previously Tcl is BSD license or where Apache or MIT or MPL license has been used), with some GTK such as GTK4 considering both Wayland and X11 compatibility such as community graphics drivers and LibreBoot (BIOS) on Motherboards, so software _(i.e. QEMU, VMware, Docker, although sometimes KVM)_ virtualisation may have to be used _(and a networked remote Linux server either on the hospital-train or in a building will connect such as the ASUS KCMA-D8 Dual AMD Opteron 4200/4100 Serverboard and KGPE-D16 with bulldozer opteron 6220 octacore dual CPU using Noctua Fans and Gigabyte GA-G41M-ES2L with core2quad q6600 CPU as a smaller portable linux server)._ See youtube video _"Building a Libre Server | Installing Libreboot on a KGPE-D16"_ _(channel Device Casting Couch - Tech Podcast)_ from 29th July 2021 for how to set it up. In addition to the Raspberry-pi SBC computers, networked _(to the ASUS KCMA-D8 Dual AMD Opteron 4200/4100 Serverboard),_ running the software mentioned in this comment would be at least one Libre T440p ThinkPad Laptop _(running 64bit debian blob Linux monolithic kernel, latest version at least 11.3 bullseye using xfce desktop),_ Desktop PC boards with linux would include Gigabyte GA-G41M-ES2L, Acer G43T-AM3, and Intel D510MO and D410PT desktop boards, all running LibreBoot. Also a Apple iMac 5,2 would be used with Libreboot _(quite possibly running Linux, debian blob monolithic kernel as would all the listed LibreBoot computers here)._ The minimum version will most likely be Libreboot 20220710, _(quote "...the downstream of Coreboot that takes a firm approach to ensure boot firmware freedom with avoiding proprietary blobs even when it means reduced hardware coverage/support")._ So while _"The Visualization Toolkit (VTK)"_ would be considered for usage in all this, a fully GLP2, GNU software where possible is preferred. Prescriptions (if at all) are done via Medicament software in GNU_Health. Patient monitors for example (SpO2, ECG, blood-pressure, respiratory, etc.) would have a (Linux) monolithic kernel instead of (SoC) System-On-A-Chip hybrid kernel (so basically not a commonplace smartphone style kernel), and the ability to upgrade (repair) components such as VGA video-card output (with OpenCL1.2 or better where possible), RAM, CPU, Boot device _(PoE rj45, such as IDE/SATA for DVDRW/CDRW, and ieee1284 EPP and ECP booting via DB25 connector, for Extended Capability Port and Enhanced Parallel Port, like an arduino SDCard reader-writer IEEE1284 adaptor designed in the Public Domain)._ Also would consider the Insight Toolkit for GNU usage so see the "itk org" site _(as per the InsightSoftwareGuide-Book1-5.3rc03 pdf),_ as an open-source, cross-platform library for multidimensional image analysis. For example, this is the National Library of Medicine Insight Segmentation and Registration Toolkit such as for CT and MRI scanners. See GNU_Health (wikibooks site) _"The Free/Libre Health and Hospital Information System"_ From the (docs. mitk) site. So it would use this... MITK_USE_OpenCL _"The Medical Imaging Interaction Toolkit (MITK) is a free and versatile open-source software project for the development of medical image processing applications. It can be used as a C++ toolkit or application framework for software development."_ _"The MITK OpenCL Module provides a basic class structure to allow usage of OpenCL-accelerated parallel computing."_ The British Ilses NHS would be encouraged to also have one of each computer systems _(at minimal cost per hardware, not inflated and also installed by a volunteer like a Computer Science BSc student/graduate)_ as mentioned above with the same software as FOSS in case collaboration were to be arranged some day. The hardware cost would be about £2000 GBP ($2500 USD) or at most £4000 GBP ($5000 USD) if some problem occurred. Enough change from that money would remain for a few Kelper (GK208-203-B1) GPU gt710 cards _(especially the passively cooled GT710-4H-SL-2GD5 with 4 of HDMI ports but also the ASUS model with VGA output)_ at 2GB (DDR5) PCI-e video-cards under nouveau drivers (for OpenCL1.2), and an AMD RX570 (for OpenCL2.0 and OpenCL 2.2) by AMD, and a DDR5 gt1030-OC by Nvidia for OpenCL3. My comment has no hate in it and I do no harm. I am not appalled or afraid, boasting or envying or complaining... Just saying. Psalms23: Giving thanks and praise to the Lord and peace and love. Also, I'd say Matthew6.

[@junesilvermanb2979]

A discount card is a card or document, often a plastic credit card or paper card, that entitles the holder to discounts on the prices of some products or services. Cards may be issued as part of a loyalty program, offering discounts to existing customers to ensure their continuing custom; they may be offered free of charge, offering a modest discount with the intention of persuading purchasers to patronise participating shops; or they may be sold to members, offering larger discounts-for example, the tastecard offers 50% discounts at many restaurants-at a substantial annual cost. Cards may be offered by merchants or groups of merchants, by clubs or associations who negotiate on behalf of all members to obtain benefits, or by official organisations offering concessionary prices to qualifying groups, such as the disabled.

[@shivamannan]

I am sixty plus and I feel I am so fortunate to be born and live in chennai,India. The greatest place for very low cost health care and medicines. 🙏🙏

[@Vijay_Mama13.]

Definitely...and it's all over india ...

[@alexcarter8807]

Civilization 1000s of years old and some sort of feeling for community and ethics. As an American I am glad that so many people are *not* in this meatgrinder that the US is.

[@mamatrain100]

Incredibly sad that dying is a danger for many who can't afford the continuing rise in medication costs. Hubs living that nightmare now even insured through Medicare part c. His meds run almost 1000 a month in co pays

[@JamesVestal-dz5qm]

Yesterday I drank too much coffee and studied nothing but advanced transport phenomena so today I'm sick in bed.

[@vanesslifeygo]

why didnt they call the companies post-split Johnson, and Johnson

[@CoreyChambersLA]

What is Biontech doing to reduce virus hysteria, reduce exaggeration, reduce overreaction, reduce over-treatment, reduce medical malpractice and reduce medical tyranny?

[@incognitofelon]

How is any of that Biontech's responsibility? You are confusing a medical company with government.

[@philoslother4602]

Solution : Single-payer healthcare system like the NHS

[@hermeslein6614]

Not gonna Happen

[@LordCoeCoe]

How are they gonna make money?

[@joebidenisyourpresidentget2481]

@@LordCoeCoe I know right? Instead of making 30 billion they will only make 15 billion!!!!!!

[@hermeslein6614]

@@joebidenisyourpresidentget2481 but you send 40 billion to ukraine does that help haha

[@containedhurricane]

Higher taxes would be required to pay for a universal healthcare system, as what's being implemented in the UK and Europe. Or the US could use the billions spent yearly for wars in other countries for NHS-like system and to combat the high violent crime rate

[@GeorgeVCohea-dw7ou]

The editing is all over the place here, and it appears they accidentally uploaded several different videos at once.

[@GeorgeVCohea-dw7ou]

Ok, what do you want to discuss‽

[@duancoviero9759]

@@GeorgeVCohea-dw7ou it's spam, ignore it

[@JamesVestal-dz5qm]

I love the irony of a Harvard med school professor explaining that societies brain can't keep up with his. Gucci gucci gucci smart harvard professor money money money!

[@detroitmetro101]

i used to think that the most greedy sector of our healthcare system was the insurance companies, but i was wrong all along, its the providers, doctors, hospitals, and pharmacies, that are greedier...they charge us and the insurance companies as much as they can, squeezing every penny they can.

[@nellienewyork]

You forgot to mention our government

[@donnam5060]

The "big 3" so understaff their stores with relation to the number of prescriptions they have to fill, no wonder they have days and days of delays in filling scripts. Plus, cvs also force fills scripts when you haven't asked for refills. It keeps happening to me. The store's answer- just don't pick up what you don't want. Well that don't fix the wasted effort and time filling and billing, then refunding and reshelving it.

[@jmccoomber1659]

Pharmacies can't bill you or your insurance for a prescription until you pick it up to there would be no "billing and refunding." You're still right about the wasted time, though. Usually you can opt out of auto-refill on the store's app. It's ridiculous your store would want to keep wasting time after you've asked them to stop auto-fill, maybe they're trying to manufacture more work to get paid overtime.

[@glorialovesChrist]

Some Insurance companies want you to order your meds online from them now.

[@LTPMChina]

Pharmaceuticals are considered complicated in the United States due to several factors: 1.Regulatory Framework: The U.S. has a complex regulatory framework for pharmaceuticals, primarily overseen by the Food and Drug Administration (FDA). 2. Patent System: The U.S. has a robust patent system that grants exclusivity to pharmaceutical companies for a set period. This exclusivity allows companies to recoup their research and development costs and make profits. However, it also means that generic versions of drugs are delayed, resulting in higher prices for brand-name medications. 3. Pricing and Insurance: The pricing of pharmaceuticals in the U.S. is complex and often controversial. The lack of price controls allows pharmaceutical companies to set their own prices for drugs. Additionally, the involvement of intermediaries, such as pharmacy benefit managers (PBMs) and insurance companies, further complicates the pricing structure. This can lead to significant variations in drug prices and challenges in affordability and access for patients. 4. Marketing and Advertising: Pharmaceutical companies in the U.S. heavily invest in direct-to-consumer advertising, which is permitted in the country. While advertising can educate consumers about treatment options, it also contributes to increased demand for specific medications, potentially influencing prescribing patterns and healthcare costs. 5. Healthcare System Fragmentation: The U.S. healthcare system is fragmented, with various stakeholders involved, including insurance companies, healthcare providers, and pharmaceutical manufacturers. This fragmentation can lead to challenges in coordination, negotiation, and transparency, making the pharmaceutical landscape more complex. 6. Litigation and Liability: The U.S. has a litigious culture, and pharmaceutical companies face the risk of lawsuits related to drug side effects or other issues. This risk can influence the research and development process, as well as impact the availability and pricing of certain medications.

[@embededfabrication4482]

Not true, the problem is the doctors, big pharmas so called new products are no better than what we already have

[@marktrinidad7650]

Complicated is not synonymous to Corrupt or am I missing something.

[@abisheks2958]

Fantastic explanation

[@wt3447]

Insurance company should be non profit period. We need a new revolution in that area. More transparency, groups join together to form self insure group using social networking. Federal and state law need to change to allow it happening to reduce cost and Much more needed to be done for the people not the corporation

[@SammyleeFx]

buy and order 🍄🍫 from👆🙏🏾

[@user-ky8kv6yv3z]

Find the Right Attorney for Your Case Can Seem Impossible. If you or someone you know has been seriously injured by the negligence of another person, or if you are facing a pharmacy law or medical malpractice lawyer, you need to speak to an attorney today. At the Marcarian Law Firm, we are ready to investigate your case today.

[@jackli6592]

people need to educated for drug price, the ONLY reason pharmacies and pharmaceuticals able to charge as high as they want is because customers are not INFORMED with price. how many of you actually ask the price of the prescriptions when you send it to the pharmacy? if we all start asking the price, these price will come down. an example an antibiotic drug i had years ago at a Walgreen was 95buck. the same exact drug at Wal-Mart is 4.50. i was so stunned when i pick up the prescription thought they might made a mistake. if there is walmart around GET YOUR PRESCRIPTION from them, with insurance or without insurance they are dirt cheap on the generic brand compare to blood suckers like CVS and walgreen.

[@yebo-gogo]

The BioNTec part seem out of tune with the theme of the article. For a moment i thought KZbin had jumped to another video! Why the hell did CNBC do that? That part seems like a commercial hidden inside a documentary.

[@shaunam5742]

If I drive 45 mins away my medicine is free yet same state,same store they will charge me if I pick up near my house. It’s clearly a scam and a joke.

[@tinaclarke5498]

It's not complicated cause the model is built in greed. Pretty non complicated really.

[@fabioraniery6950]

why does everything have to be so complicated in the US?

[@petrobull2560]

Great video. Epic thumbnail…lol😂🤣😂👍

[@user-xi8ex5cl6c]

All Stores Please Lower the price of all Military and Local for all Brands of Pharmacy products and Accessories and Production Cost Now That's too much $$ The Whole World Now 🙏🙏🙏

[@rebeccabryan3440]

There’s all this money out there, but yet they can’t pay their staff. Make it make sense

[@collinhoey5517]

Profits and greed; shame!

[@follout7075]

Sounds like a racket to me 😂

[@shoppinmadnesz22]

*every year, politicians (from **_both sides)_** claim they're going to lower the cost of pharmaceutical drugs; yet every year, we find that nothing's changed. that's how you know how deeply entrenched these corporations have stuck their claws into our politics*

[@lurkingarachnid7475]

Antibiotics in Asia was only 50¢ a tablet here it's $100 for a 10 day supplies

[@robm9113]

My BS detector always goes off when I watch CNBC videos, even on relatively benign topics. Then I noticed the ratio of likes to views for this video, i.e. less than 1 %. It is comforting to know that I am not the only one who feels that way.

[@paulsaragosa371]

Ima a crazy taxi driver popey

[@portalomus]

A lot of medications are also brand only, there is no generic option. Discount cards and insurance still don't make these medications affordable. I'm looking at you Eliquis and Xiidra, Don't even get me started with the Medicare coverage gap...aka the donut. It's ridiculous.

[@scarlol1800]

add xaralto

[@jermainemyrn19]

Correction: "Pharmaceutical companies"

[@evilanimosity666]

To distract you from having better lives. Complicated = More money

[@HaloRuler08]

I work at a Walgreens and CVS Caremark is always forcing customers to go to their pharmacies or else they’ll stop paying

[@SammyleeFx]

buy and order 🍄🍫 from👆

[@marcossanchezmunoz8351]

It's all a business, it's hard because they want you to pay the most for the medication. I can go to Mexico and buy whatever medication I want for 100-500 pesos at any pharmacy

[@64A64B2WEST]

I'm a doctor in Atlanta, our 40% medicine 💊 are made in India, US is way to expensive compair to other country's, it's a mess

[@LauRoot892]

Biden 👋

[@jigsaw2281]

What if 80% medicine were made in India ?? It will benefits American people

[@eros7872]

Yeah I am an exporter for pharmaceutical medicine

[@jumboMIDGET]

Bad products at high prices

[@mvpcilo2268]

See how it says “STOP SELLING IN U.s and Canada. “ WONDER IF THEY SELL IT OTHER PLACES

[@jiangyongguo]

Hello my friend, may I ask if your company needs anti-cancer drugs- (Including formula, raw materials, semi-finished products)? I am from China.

[@BabyWick351]

Why are none of the linked websites (https) ??

[@markcampbell7577]

Affordable housing health care and medication means that criminal wages are common. The median income in the three largest states California New York and Texas is near what would normally be considered to be the poverty line. The minimum wage act is defined in the law as not a transient wage.

[@markcampbell7577]

This would be the poverty line or minimum standard of living and is 4 times the rent for one bedroom apartment local commute and in the three largest states California New York and Texas is about 50 000 per year..

[@markcampbell7577]

This is the normal legal minimum wage or poverty line anything less than 4 times the rent for one bedroom apartment local commute or today 50 000 per year is a criminal wage deprivation of food and shelter for one person. Why we don't have affordable health care affordable housing or affordable medicine.

[@vinamarie_]

Very informative! Thank you CNBC.

[@dfarias873]

The problem always comes down to private insurance. Both doctors and pharmacists set whatever prices because they don’t know how much they’ll be reimbursed.

[@fionacole6777]

Sometimes pharmacies are reimbursed much less than they pay for the medication, varies from a few dollars to a couple hundred dollars. Sometimes after pharmacies are reimbursed, they are unreimbursed a couple weeks later by the collection of DIR fees. They practice unfair auditing practices. Independent pharmacies are merely surviving

[@williammorgan7769]

Not true.

[@justinedwards2496]

In my experience pharmacies don’t set prices at all, insurances determine how much their customers will pay for copays and how much they will pay pharmacies, the roles may be reversed when you’re talking about massive chains like Walgreens, CVS, and Walmart

[@fionacole6777]

@@williammorgan7769 I turned patients away last week for that reason. Cost of drug $220. Insured reimbursement $14.

[@bunnyrabbit778]

Wow you literally have no idea how coding/billing and reimbursement works and yet here you are, spouting utter nonsense. God bless America.

[@MyLife-og2kr]

So Johnson and Johnson is going to split, are they just gonna be Johnson?

[@auro1986]

complicated? you can be rich like jeff bezos if you setup your own drug store with candies in medicine packs and bottles instead of the real medicine

[@ThePilotGear]

it's incredible what the founders as well as the team at Biontech have brought to this world.

[@SammyleeFx]

buy and order 🍄🍫 from👆🔥

[@gergelyfiala4756]

I have a law degree, but I didn't get the PBM part.

[@duancoviero9759]

Yeah definitely takes some research to understand who does what in the market.

[@igorschmidlapp6987]

The problem of health care here in the US is that it is thought of in terms of INSURANCE, NOT "health care" as a whole.

[@oladokunsamuel5923]

$465bn off a population of 300m is ridiculous for a calendar year 2020

[@027Jayjay]

It's your sugar companies too. There's alot of corporations that aren't good.

[@skylineXpert]

I forked over 140$ for my astma inhaler and nasal spray (for dust mite allergy) and I have my insurance covering half so for 3 inhalers with 60 huffs of 9mg bufomix and one nasal spray I actually only paid 70$. That Is denmark with a semi-private insurance on top. When I pickup next time I only pay about 35$ I bet you cannot even get one comparable for that In the united states.

[@NightRidah777]

It's like everything in America has gone to sh#t!! No matter where you look it's all garbage and it all has a single cause, GREED!!

[@SL420-]

I'll answer the question in one word. Insurance. Insurance intermeddled between pharmacies and the consumer and now people can't afford what they need without insurance. It's like dealerships between car manufacturers and consumers except there's only three main ones and they are willing to take thousands of percent profits and now we can't do anything about it.

[@SammyleeFx]

buy and order 🍄🍫 from👆