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Vertex Pharmaceuticals Incorporated Message Board

  • wall_street_sucks wall_street_sucks Mar 13, 2014 3:21 AM Flag

    Vertex question

    Where in the world will patients get $250,000 per YEAR to pay for the drug(s) if approved? Insurance does not have to pay absurd prices, or some bizarre price VRTX thinks it deserves. I think I read that the average American family has $22,000 saved. It's their life savings. And what about all the people in the world who can't afford $250 per year, let alone $250,000 per year. And remember, supposedly that $250,000 per year is REAL money, i.e. money actually collected by VRTX. We all know that the label price on a drug may be $1000 for example, but after insurance companies and the government negotiate, the price they actually pay might only be $125. I might add that I thing Adam F. has made a fool of himself on many occasions. That being said, so have millions of investors. So who knows how high the stock could go with approval. Also, haven't we all seen biotechnology stocks that had so much hype built into them, that they fizzled after approval. It seems people are treating that $250,000 as if people can just waltz down to the drug store and buy the drugs with their balance of their weekly paycheck. What am I missing????

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    • Insurance company always try to give you the cheapest way to "fix" the patient. They compare all long and short term cost. If the drug is the cheapest way to "fix" the patient, then they cover that for you based your insurance policy. Insurance always get BIG discount and don't need to pay full price. Check your medical bill from your insurance company and you should see that.

    • Thanks gladpick!

    • Apparently you are not well informed about treatment provisions for rare diseases. Are you aware that Genzyme, now owned by Sanofi, charges about $200,000 per year for its drug to treat Gaucher disease? Insurance companies have been paying that every year since, I believe, early 90's. For those who can not afford or do not qualify for insurance, drug companies try to assist the patients to tap into other sources of funds and then provide it even free if there are no such funding sources.

 
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