Saturday, May 29, 2010

Why Obamacare will fail

This is for those fans of Obamacare who think you can legislate cheaper medicine: BBC News - Insulin giant pulls medicine from Greece over price cut

More than 50,000 Greeks with diabetes use Novo Nordisk's product, which is injected via an easy-to-use fountain pen-like device.

A spokesman for the Danish pharmaceutical company said it was withdrawing the product from the Greek market because the price cut would force its business in Greece to run at a loss.

The company was also concerned that the compulsory 25% reduction would have a knock-on effect because other countries use Greece as a key reference point for setting drug prices.

Maybe the Greek government can use its copious spare funds to get into the business of making this drug.

No comments: