“We’re not a charity, we’re a business” yes, but you do use publically funded researches to make your medicines.

My dad was a former pharmaceutical marketing exec, who after 30+ years, left the industry in disgust. He told me a of a practice he called ‘Drive-By Studies’. These are studies designed to cast a bad light on any ‘health solution’ that they viewed as competition to their highly profitable, under-patent, drugs. These could be popular diets, supplements and generic drugs - even ones they had developed years ago. So, this practice doesn't surprise me at all. This is one of the consequences of of that same mindset. And I'd also ask - what other country allows large corps to buy up their competition and then neglect or hamper their production, in order to lessen the impact on the larger corps bottom line? Isn't this what anti-trust laws were designed to address?

"The health care system is failing our children." The US health care system is failing our people, all our people. Profit and health care should not mix. The whole system needs to change dramatically!

How is it possible that we pay the highest prices for healthcare in the United States and hospitals are running out of basic tools. We need serious reform to our system NOW!

And yet we still pay over twice as much, often more, than the rest of the developed world. This is what happens when the only thing that matters is money, not human life, not our environment, not even keeping our own planet inhabitable is more important than profits. We will go extinct before we cut the quarterly profits of corporations. We are insane

The fact that US citizens pay on average 6 times more than Europeans for the same (made in the US) medications should tell you everything you need to know.the reason is simple,in countries where they have universal healthcare, pharmaceutical companies have to deal with the government and if the prices are considered too high,they lose to competitors.so where do these pharmas are making their profits?in the US!!

“Administrative fee” as in the person who takes your money, but never answers the phone when you call or is never in the office when you go by the office.

This whole system is broken because it is for-profit and not for-patients. The government doesn't want to stifle innovation but their lack of involvement in prive regulation and distribution just means GPOs can step in and complicate everything. So annoying.

Our healthcare system is failing on so many different levels. Prioritizing profit above people's care and welfare is an abomination. Improvements need be made and quickly.

As the sister of a man who had childhood leukemia and was in the clinical trial for vincristine and the mother of a child with SMA, for which treatments have only been approved within the last five years, this news story upsets me as much as anything that has happened over the past couple of years... And that has been a lot.

Make sure the bad publicity is more expensive for pharmaceutical companies than providing the drugs. Loss leader is a valid business practice.

*canada selling insulin for 25$* US: 200$ is not enough to cover production costs

It’s really sad that humans can do this to each other. Like seriously!!

My son got cancer in 2012. He spent a lot of time in the hospital, needing a stem cell transplant and then having a lot of complications. There were several times they were short on the drugs they needed. IV Tylenol seemed especially in short supply. There are so many things wrong with our healthcare situation. It’s so sad.

The NICU doctor sounded like he was working out of a MASH unit in a war-torn country, but no, he works in one of the top medical centers in America. Something is seriously wrong when American hospitals can't get basic, life-saving drugs due to corporate greed, yet Americans are charged the most for healthcare.

The Australian government pays for my medication in hospital. All of it. Our government tells drug companies what they will get paid, within reason. Not the other way around.

The story should have covered the CEO wages of all the companies mentioned, production, and middle men.

I propose a new patent law: If patent holders can't produce their drugs or medical technology in the amounts needed, compounding pharmacies and independent 3d printing manufacturers should be able to produce the amount needed for their local population with protection from lawsuits protecting the patent.

I'm British and my sister is married to a American and has moved to the states , and I'm sending over the counter medicines for headaches and indigestion because she says the stuff you get over the counter in the states doesn't work as well, she thinks that's so more people go the doctor so they can make more money . Really I think she's mad living in the states just on the healthcare issue

Here is the solution: The USA has about 100 pharmacy schools and even many more chemistry and chemical engineering departments. Get them to survey the production need and parcel out the work across the entire country. They can sell direct to the hospitals and use the profits to drive down tuition.

One of the big lies in America is that our healthcare system is better than Canadas because without our for profit system there would be waiting lines and shortage of care. The truth is that pharmaceutical companies and hospitals collude together to drive up prices, force scarcity on medicine and care and make America’s healthcare system the most expensive in the world and provide some of the worst care comparatively to other 1st world countries. The pharmaceutical executive that said, “you got to remember these companies aren’t charities…” thats right and thats why the federal government should step in to protect its citizens and make healthcare in this county free, affordable, price regulated and take it out of the hands of greedy corporations that have shown time and time again that killing people to make a buck is a standard business practice in their calculus for running their Fortune 500 company. US healthcare is disgusting aberration of what it should, and rightfully be. Instead sending billions overseas, spend that money here at home.

In regards to TEVA no longer making vincristine, the company is, in fact, broke. They have over 20 billion in debt on the books, and they are in extreme cash conservation mode. Now, they will only produce drugs that make the most money, because they have limited manufacturing lines, and they don’t have the money to build additional lines. I know this, because I worked for them. It was a nightmare to work there. The reason Teva has so much debt is because of a horrible acquisition they made with actavis pharma. This could have been prevented, if the officials as the FTC would have blocked the acquisition, but they let it proceed with Teva meeting various preconditions. I will also say the government needs to negotiate with manufacturers directly and remove the GPO middlemen. This situation is just ridiculous.

Something creepy about the economics here. The demand for life-saving drugs (being inelastic) should be driving reasonable profits. Somebody seems to have a price gouging addiction to patent[ed] medicines.

The pharmaceutical companies have become absolutely despicable.

"Corporations aren't charities." Most damning quote in the piece referring to BigPharma.

This could all be fixed through laws that cut the middle man and the fees for drugs that are not expensive, yet are necessary. Then they can remain inexpensive, and be made readily available.

US spends around 4 trillions $ a year and yet can’t provide not only essential medicines to its patients but more than 30 million citizens don’t have access to health care. Brutal!

Universal Healthcare would solve this problem. But shareholders, CEO's and lobbyists want us all to think the solution is complicated.

The only reason the US is so antithesis towards a single payer healthcare system is that all this rent-seeking middle men would collapse... Billions of dollars are made from fees and commissions.. Patients are the one that pays for it.

Imagine. In Syria, meds aren’t available because they can’t afford it. In America, meds aren’t made because it only profits the companies $10 million instead of $100 million.

This is the epitome of healthcare and even though I get mine through my benefits I still won't even go to a doctor out of fear where they're going to send me next or what they're going to tell me to take for 30 years and then tell me to go lump it after I'm medically addicted to it due to 30 years of taking it

We need to restart the conversation to nationalize medicine because one can't count on the kindness of corporations to do the right thing.

It's time for the defense production act to be put into play for these medicines.

An increase in trained Compounding Pharmacists could go a long way in helping patients in need. Walgreens and CVS are to blame for that. No one right out of pharmacy school wants to work for a small pharmacy when the big boys offer 6 figures for an entry level pharmacist job.

When I see things like this I thank GOD I didn’t take the bait to migrate to America (America has really great PR I must say). I’m a doctor myself and I am more than happy that I live in a European country with universal/socialised health care. The Government negotiates prices with drug companies and we get it either for free or at a fixed price depending on individual financial circumstances. Every single medication is one price (about $12), If you must pay. Miss me with the “yOu PaY hIgHeR tAxEs” Cos by calculation we really don’t. I’ll say it again if the financial burden of healthcare is on the government, they have an incentive to keep you healthy. It’s cheaper for them to prevent a disease than to pay for a cure, so they’ll do everything possible to prevent it. Starting from diet, screening etc. Somethings are allowed in American food, but it’s banned in Europe (go figure) I can’t imagine not being able to treat a patient cos of funds or something as silly as this. Even the 3rd world country where I’m originally from isn’t this bad. United States of America aka “The Trenches”

This is why it is continually stated that things like health care shouldn't be for profit!. We knew that the mail had to be non profit because it wouldn't make financial sense to deliver to rural areas, but we can't put 2 and 2 together on health care. I am so tired of our country being run by companies that just care about how much money the can squeeze out of it until it folds and they move on the somewhere else.

If we nationalized drug production we wouldn’t have this problem. It’s an abomination that lifesaving drugs aren’t getting produced because of “profit.” What has private ownership of drug companies done for us? Nothing

I remember a guy who preached "deregulation" (another way he said it was "...government is the problem"). He also Cut the Capital Gains Tax (and that is why profit *growth* has become "more important" than people).

GPO's and Distributors don't have to exist, they should stop accusing the FDA for this situation. If the manufacturers get the bulk of the profit from sales, and not GPOs and Distributors, they could keep their plants quality control compliant and still profitable.

For profit is ruining this country. Why can’t we develop systems that work because they need to work not because a lot of money can be made to do so?

Here in india 🇮🇳, in last 2-3 years lots of generic drug stores opened. Thanks to the government. But doctors still dont recommend this medicine beccoz they are in big pharma companies pocket.

This is the best example of why leaving everything purely to the "Market" is bound to fail. Gov't needs to step in with some regulations inevitably... although ideal is not too many regs. Tough balance act.

There is a different level of evil that puts profits over the lives of people in need of life-saving/extending care.

There is a place waiting for evil people like this!!

The government MUST STOP funding to ALL drug companies who STOP manufacturing drugs for low profitability.

I want the government to step in and do it themselves, healthcare shouldn't be about making as much money as possible, these capitalist values that America seems to have is killing our people.

There needs to be tighter regulation of drug companies. I suffer from epilepsy. for forty years I've taken Phenobarbital. Just ten years ago, I could get it in Target Pharmacy for $7.00 per prescription. Now the cost has quintupled. Rifraxamin, an antibiotic that is often used to treat GI issues can cost almost two thousand dollars. I wound up having to use a Canadian pharmacy that imported the antibiotic from India. It took six weeks to arrive but it only cost me 100.00.

More of corporate greed there

Why can't we allow subsidies for these low-cost drugs, similar to what we due with agriculture and oil? Have the government pay for these pharmaceutical companies to manufacture these drugs.

Why can't the hospitals open their own labs to produce the medicines that are easy to make?

Well, Obama got the ball toward positive change rolling but had limited success. Everyone started screaming about socialized medicine and how it was going to raise their taxes and destroy the country. Meanwhile, this problem, among a myriad of others, continued to get worse. If you are seriously concerned about healthcare in the United States, then you need to seriously think about how you vote.

Gosh. For a minute there I thought you were going to tell the truth: "Yet, year after year, the government stays on the sidelines …" No. The government stays on the side of the pharmaceutical companies.

I’m tired of for profit medical care. This needs to end. I’m done. It’s time to make healthcare delivery and payment public. Does this whole segment sound like this is happening in the richest country in the world? No.

We need the government to step in and regulate drug manufacturers! Not only production of drugs but how much they can charge. Eliminate for profit middle men.

It's like reducing the meat content of a meat pie slowly over time, then returning it to normal and charging 30% more for it.

When you make an industry for profit what do you expect?

This has been a slow progression since we’ve started the business practice where the increase of quarterly profits is only priority as a business model and now we’re at the point where capitalism is eating itself. You see it everywhere in everything. And that’s on top of the subsidies we give them.

It's all about the all mighty dollar. The drug companies NEED TO BE HELD ACCOUNTABLE FOR THIS KIND OF BEHAVIOR

In Denmark, we have a government website that shows how much all the drugs approved in the country cost, and their historical price developments. The medications cost the same in every pharmacy in the country, because the pharmacies buy the drugs from the national supplier, and are allowed to take a 20% profit for them. The healthcare ministry sends out orders for specific drugs to be sold on the Danish market and companies then bid for the right to sell it. This is fair to the manufacturers and the buyers/patients, because it allows for the prices to increase if there are no profits to be made with past prices and keeps companies from scalping the market since there is potential for competition.

I don't get it. If the drug companies aren't seeing enough of a profit margin, why don't they just charge more for it?

This is why someone needs to form a non-profit corporation to manufacture these drugs

Our hospital no longer stocks dextrose (glucose) on the units bc of the shortage, but a patient with low glucose can die in minutes I almost saw it happen one day. We had to open a whole crash cart for one vial, which new residents/nurses were scared to do bc of the cost. It is unsafe to not have it on the floor. The list of critical drugs not on the floor anymore is growing…

So many of humanity's problems are self-inflicted & preventable. Greed & ego are the root of all evil. Unfortunately those are the key ingredients that drive capitalism.

The current system needs to be completely removed and a new one created. Medications are not luxuries or optional. Medication should NEVER have been for-profit.

The hospitals waste meds too. My partner is an RN and they “waste” leftover tablets and iv drugs with a coworker all the time (2 employees at once for confirmation it was truly wasted). It seems ridiculous that they can’t put something as simple as tablet of percocet that a patient didn’t consume back into the supply versus dropping it in a waste container that sludges and destroys it. Throwing away money and completely usable drugs that can be used for others. Yet they have no problem charging a healthy fee with decent profit for each tablet/drug they give you in a hospital setting. Not really the same situation as what’s in this video but it’s wasteful. I think our government should enforce a requirement they make less profit generics along side with their pocket raping drugs too. I mean can’t the company also have some compassion or is it truly all greed at the cost of lives? Sad.

Thanks 60 minutes for bringing issues. We currently source our generics from international organizations. Forget the politics, they offer great quality with great prices.

Why am I not surprised it's the USA after all... but at the same time it's insane how much of a stranglehold these pharmaceutical companies have over the US government. For example, in the USA a carton of insulin costs around 100 dollars while the exact carton cost around 8-10 dollars here in Europe.

The system need government intervention, just like Healthcare in general. It is a human right, but you can't expect these for-profit businesses to act against their own interests, to a degree. Yes there are issues with pricing (gouging the consumer, entitlement program, and insurance companies), but set aside all other issues and consider this: A new drug costs >$2bn USD from R&D to roll-out. Most of that cost is in the extensive procedures for clinical trials and FDA approval. The costs for manufacturing drugs of any sort are insane too. Once a drug has been developed, patented and approved, manufacturing the new drug using their existing expensive fixed assets like the plant, equipment, salaried professionals, etc. It doesn't make sense to produce a lot of cheap drugs because the costs are primarily NOT in raw materials, i.e. the chemical constituents needed for a drug's production. Even those costs are sky high now. These economic decisions aren't malicious. If you want public health to be placed over profits, some degree of government agency over the issue is required. One answer is a government subsidy program. We are already risking a lot by importing Indian pharmaceuticals. Higher profit margins but the pharmacokinetic profile of these drugs are sometimes way off and in no way meet the standards for the FDA's generic label. The generic drug must be sufficiently the same in all meaningful respects. Currently, we are getting drugs

It’s too bad the Supreme Court and all the lawmakers don’t know about this! Someone should tell them! They care SO MUCH about the lives of children! 🙄 ‘murica 👍🏼

Yep, sadly, follow the money. So sad that we’re seeing shortages on much needed medicine that could be saving lives.

So how do we get in the business of making less profitable life saving drugs? Supply / demand.. it’s simple .. . Remove the wholesalers !

This is a multi-factorial issue. Not only big pharma to blame. Plenty of blame on Medicare, the hospitals, and especially the GPOs. Patients and doctors caught in the middle. Generic drug manufacturing will need to become a government regulated utility. BTW the GPOs are the worst... mostly owned by insurance companies

Maybe the words "profit" and "life saving medicine" should never be uttered in the same sentence.

I bet if we gave terminal diseases to the pharmaceutical executives and their families, they'd figure it out real quick. The entire for- profit, privatized health care system is broken. It's disgusting how bad things have gotten and how little all the politicians that campaign on fixing the system actually do about it.

There have been shortages of my cardiac medications and my generic narcotic I use to keep my chronic severe pain under control. My Atenolol and Digoxin have been in shortage. Those two drugs keep me alive. I need those two medications every day. It’s scary every month not knowing if I will get my medications that I do desperately need.

The United States of America! The most dynamic nation! And, we have all these individuals responsible for problems in supply and demand of pharma. It really is a disgusting turn of events. Does capitalism really work for all? I don’t think so.

Oh Gosh. Are we coming for another iv benadryl shortage? It aligned with Mylan's epi pen conspiracy. The last killed my best friend via idiopathic anaphylaxis. She was in CHLA in Las Angeles. 2019. Her death was on Manchin's hands

We need to switch to non-profit system for health insurance and should do the same for older, lower profit meds which the for-profit system won’t make. We have the same problem w/antibiotics and superbugs. The pharm companies don’t want to waste their time on making new antibiotics which the superbugs aren’t immune to bc we only take antibiotics for a short period of time. They’d rather make drugs which a person stays on long-term, which also means we aren’t looking for cures or prevention but instead looking for ways for patients to live w/the condition and all the side effects of the drugs for the rest of their lives. I’ve been on a medication for 27yrs and it’s still brand name only bc the pharmaceutical company which makes it pays generic manufacturers not to produce a generic drug making me and my drug insurance pay more than we would otherwise be paying every month I get a refill. The entire system is corrupted and doesn’t fulfill its purpose bc it’s for-profit. The healthcare system has more lobbyists on capital hill than any other industry. They’ve bought the entire GOP and corporate/establishment Dems. We need to elect more far-left Dems, which r the only politicians who aren’t in office to enrich themselves. They r the only politicians who can’t be bought by all these corrupt corporations which is why most of the media, the wealthy, corporations, the GOP, and to some extent, establishment Dems r always against the far-left Dems, especially if they r feeling the voters r supporting the far-left Dems more than the GOP and establishment Dems as we saw when Bernie won the first 3 states during the Dem primary elections of 2020. It was the landslide election of 1932 when we elected FDR, a far-left Dem, and Dem congress who saved American democracy and democracy worldwide. He was so loved by most ppl, except elites, he was elected 4x for president, 2 assassination attempts, and after his death the wealthy pushed congress to limit presidents to 2 terms and prevent the far-left Dems from ever getting in the more powerful seats speaker, majority/minority leaders, or president again. We won’t break this government which works more for the wealthy and corporations until we change the faction of politicians we’ve been voting for, at least since 1980. We began losing our more democratic/social democratic, for the ppl government in 1971 when a republican Supreme Court justice sent a memo to the US Chamber of Commerce titled, “The Lewis Powell Memo: a Corporate Blueprint to Dominate Democracy.” The ppl will continue to struggle and lose out until we take back our government!

The problem actually is they prefer only American or Western sources however there are other sources that are happy to supply these products but they are unwilling to take from like India and China. This is a preference created shortage and not really an actual shortage.

A private business has no accountability. They will run a business for one reason and one reason only. Only people care about people. Nothing will change until people do something and good luck getting everyone to agree on anything Americans don’t like each other. You would think it would be easy to get done but already half you out there disagree with me about 25% of you will give reasons why it can’t be done and rest don’t care yet because they are healthy and it don’t apply to them ….yet . when you get older you will complain about it then but it will be to late for you to do anything about there is a large population of Americans who can fix this with there voice if we want. Americans great at fixing thing when we can come together as The United State Of America

My heart breaks in pieces just to know this little kid are suffering they're so innocent they shouldn't go through this I can't watch this video anymore.

Its a messed up system when pharmaceutical companies dont think think its profitable tonmake much needed drugs because of all thr middle men involved.

This is so sad! 😭😭😭 This makes me want to cry. This is about people lives. Thank God that I was able to get the treatment and that he healed me. I couldn’t imagine needing a drug that could save my life and not being able to get it because of greedy people.

“Because it doesn’t make enough profit.” My sister was born in mexico and my parents expected that paying and doing the old school bribing would mean my premature sister would live. They were right, but the doctors claimed they didn’t pay ‘enough’ (aka my parents used all of their money. To the last coin to keep her alive.) and when the money ran out they literally gave this tiny baby that could nearly fit on my moms hand. Head on fingers, whole fragile little body in the palm of her hand and her limbs would just dangle. That baby wanted to live. My sister lived through the next months and years being denied proper medical treatment. So my parents reached out to the US for help. They helped. I later served to repay the service. I cannot believe now the US is doing this to their own. Its disgusting. After years I came to realize if the doctors treated this baby like any other she wouldve had a future. A new born baby that couldve grown well and good but the doctors decided to prioritize monetary gain over a human life. If she survived without proper care in that time imagine how she would’ve thrived adequate medical treatment. The US is going down an equally horrifying path now.

This whole country is a mess. Maybe capitalism isn't the answer?

My nephew takes an orphan drug that reduces the amount of copper in his blood stream. Without this drug, he would die as he carries a genetic defect where he received a defective gene from both parents, making him have Wilson's disease. There are only two companies that make these drugs. The drug is very, very expensive. If these drugs are stopped being produced, my nephew who is a college graduate, played Big Ten Basketball for Belmont University would die very quickly. We always worry that the orphan drugs will be discontinued by the companies. His life is dependent on it. The government needs to give tax breaks for companies that create these rare drugs and give them incentives to continue to produce them.

This is so sad! Insurance companies should be forced to pay enough for generic drugs to be made right here in America. They should all be readily available and every hospital should be well stocked on all essential drugs. If we can't force insurance companies to pay, then our tax dollars need to be spent on this. Stop sending billions to foreign aid until we fix our own problems!

This is what happens when medical care is subject to the whims and profit requirements of capitalism. Even though there is some profit to be had in manufacturing these drugs, the margin is so small some business executive decides to discontinue it so they can reallocate those resources to a drug that has narrower use but higher margins for profit. Basic business tbh. That is the problem with capitalism. The only measure of success and impact is profits. Capitalism knows and cares very little about other metrics like quality of life and social good.

We need to quit relying on outsourcing everything and become self sufficient. There also needs to stop being a monopoly on pharmaceuticals, baby food, everything…. Doing so, would solve so many problems in the USA. The greed is disgusting!!

This is a very easy fix for all drugs. Since private companies refuse to step in to restock due to low profit margins the government should step in and make the drugs. I worked in the medical drug field. They have a drug book outlining what is in each drug basically like a cookbook so this is an easy problem to fix but the government refuses to work for the people

Why not import those drugs? Low cost manufacturers are plentiful outside the US.

What’s more American than putting profits ahead of the well being and health of patients. This is capitalism at its best…such lovely people are our Congress, insurance companies and healthcare providers -profits at all costs

What an incredibly poignant mini-documentary. Whoever edited this should be proud.

Medicare for all would fix this position, major countries throughout the world provide healthcare for free to their citizens; only in the USA healthcare is for profit. Congress & the Senate need to work for the people not for Big Pharma. Sad country this is, greed has no boundary.

Our government needs to better regulate these companies

Tl;DW: It's a bit more complex than this, but the FDA has made quality such a priority that many low-margin drug companies can't compete, so they shut down, leading to shortages. Middlemen also make it hard for drug manufacturers to stay in business, which in turn leads to shortages. Remember, these are generic companies, not the ones charging an arm and a leg.

Or, like every other first-world economy, we could simply not allow price gouging by big pharma!

The government should be the middle man like many other advanced economies.

Hospitals be like "$1000 for a bag of saltwater but let's the leftover drugs out of a vial like a Mexican restaurant reusing the free tortilla chip baskets."

The shortages are artificial, yes. But they're not caused solely by 'greed' on the part of the manufacturers, they're caused by the contracts forced upon them. The main problem is that manufacturers are offered bulk contracts for generic drugs that don't even cover the cost of manufacture, let alone add a profit margin or cover for transportation. That's why many generic drugs are getting hard to find in Europe, thanks to our government healthcare systems that dictate prices to manufacturers. The US government systems like the VA and Medicare work the same way. I've been waiting for 2 months now for medication I desperately need. I've 2 weeks supply left, when that's gone (and the pharmacy says they don't know when it will be supplied, it may be several more MONTHS) I'll be seriously ill to the point I can't function in society and can't sleep even with sleeping pills at most a week until I get a new supply. How long I can live like that I don't know, but being incapable of sleeping can be fatal.