minimedic304
New member
Just saw a wonderful news article on wallstreet journal... The cost per year per patient for the rest of your life ...$294k per year... Most insurance companies will only cover 80%. That's $492 million profit per year.
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Vertex and our costs
- Thread starter minimedic304
- Start date
minimedic304
New member
Just saw a wonderful news article on wallstreet journal... The cost per year per patient for the rest of your life ...$294k per year... Most insurance companies will only cover 80%. That's $492 million profit per year.
saveferris2009
New member
OK, there are a few bits of information you are missing here:
1. How much $ did Vertex put in to developing this drug over the past 10 years? They haven't made a single dime on the drug for a decade, but have been paying some of the top scientists to conduct research; creating manufacturing capacity; and funding 3+ clinical trials to assess the safety and efficacy of the drug
2. How much does it cost for you to be in the hospital each time? If you're in for 2 weeks, it could be anywhere from $100k-$200k each stay. Most CFer's are in the hospital 2x/year at least
3. Your calculation is incorrect - that's not $492 million profit. Kalydeco is FDA approved for 4% of CF patients. That's only 1200 US patients (drug isn't approved anywhere yet). 1200 patients * $300k is 360,000,000 REVENUE. Not profit. You have no idea what their costs are - plus the high cost of all the work they have done over a decade to discover this drug
4. They have patient cost assistance that I am sure will be widely used to help all CFers afford the drug. But again, compared to hospitalization or even transplant, this drug is much cheaper in the end. It's called pharmacoeconomics.
1. How much $ did Vertex put in to developing this drug over the past 10 years? They haven't made a single dime on the drug for a decade, but have been paying some of the top scientists to conduct research; creating manufacturing capacity; and funding 3+ clinical trials to assess the safety and efficacy of the drug
2. How much does it cost for you to be in the hospital each time? If you're in for 2 weeks, it could be anywhere from $100k-$200k each stay. Most CFer's are in the hospital 2x/year at least
3. Your calculation is incorrect - that's not $492 million profit. Kalydeco is FDA approved for 4% of CF patients. That's only 1200 US patients (drug isn't approved anywhere yet). 1200 patients * $300k is 360,000,000 REVENUE. Not profit. You have no idea what their costs are - plus the high cost of all the work they have done over a decade to discover this drug
4. They have patient cost assistance that I am sure will be widely used to help all CFers afford the drug. But again, compared to hospitalization or even transplant, this drug is much cheaper in the end. It's called pharmacoeconomics.
saveferris2009
New member
OK, there are a few bits of information you are missing here:
1. How much $ did Vertex put in to developing this drug over the past 10 years? They haven't made a single dime on the drug for a decade, but have been paying some of the top scientists to conduct research; creating manufacturing capacity; and funding 3+ clinical trials to assess the safety and efficacy of the drug
2. How much does it cost for you to be in the hospital each time? If you're in for 2 weeks, it could be anywhere from $100k-$200k each stay. Most CFer's are in the hospital 2x/year at least
3. Your calculation is incorrect - that's not $492 million profit. Kalydeco is FDA approved for 4% of CF patients. That's only 1200 US patients (drug isn't approved anywhere yet). 1200 patients * $300k is 360,000,000 REVENUE. Not profit. You have no idea what their costs are - plus the high cost of all the work they have done over a decade to discover this drug
4. They have patient cost assistance that I am sure will be widely used to help all CFers afford the drug. But again, compared to hospitalization or even transplant, this drug is much cheaper in the end. It's called pharmacoeconomics.
1. How much $ did Vertex put in to developing this drug over the past 10 years? They haven't made a single dime on the drug for a decade, but have been paying some of the top scientists to conduct research; creating manufacturing capacity; and funding 3+ clinical trials to assess the safety and efficacy of the drug
2. How much does it cost for you to be in the hospital each time? If you're in for 2 weeks, it could be anywhere from $100k-$200k each stay. Most CFer's are in the hospital 2x/year at least
3. Your calculation is incorrect - that's not $492 million profit. Kalydeco is FDA approved for 4% of CF patients. That's only 1200 US patients (drug isn't approved anywhere yet). 1200 patients * $300k is 360,000,000 REVENUE. Not profit. You have no idea what their costs are - plus the high cost of all the work they have done over a decade to discover this drug
4. They have patient cost assistance that I am sure will be widely used to help all CFers afford the drug. But again, compared to hospitalization or even transplant, this drug is much cheaper in the end. It's called pharmacoeconomics.
Plus the foundation gets a percentage of the royalties on the drug for their 75 million dollar investment. I do agree that the high cost of the drug is due to the incredibly small market for it. Plus you have to remember that vertex sunk hundreds of millions of dollars into developing the drug with no guarantee that it would ever work. Contact vertex and the foundation for assistance in covering the out of pocket expenses of the drug. I'm sure it will be made available to everybody who can use it. =-)
Plus the foundation gets a percentage of the royalties on the drug for their 75 million dollar investment. I do agree that the high cost of the drug is due to the incredibly small market for it. Plus you have to remember that vertex sunk hundreds of millions of dollars into developing the drug with no guarantee that it would ever work. Contact vertex and the foundation for assistance in covering the out of pocket expenses of the drug. I'm sure it will be made available to everybody who can use it. =-)
Excerpt from vertex web site: http://investors.vrtx.com/releasedetail.cfm?ReleaseID=644158
"For eligible patients, the program also includes the following:
Free Medicine Program: Vertex will provide KALYDECO for free to people who do not have insurance and have an annual household income of $150,000 or less; and
Co-Pay Assistance Program: For patients with commercial insurance plans that cover KALYDECO and who are enrolled in the Guidance and Patient Support, or GPS, program, there will be a minimal out-of-pocket obligation after which Vertex will help cover co-pay or co-insurance costs up to 30 percent of the list price of the medicine. There is no income limit to be eligible for this program."
"For eligible patients, the program also includes the following:
Free Medicine Program: Vertex will provide KALYDECO for free to people who do not have insurance and have an annual household income of $150,000 or less; and
Co-Pay Assistance Program: For patients with commercial insurance plans that cover KALYDECO and who are enrolled in the Guidance and Patient Support, or GPS, program, there will be a minimal out-of-pocket obligation after which Vertex will help cover co-pay or co-insurance costs up to 30 percent of the list price of the medicine. There is no income limit to be eligible for this program."
Excerpt from vertex web site: http://investors.vrtx.com/releasedetail.cfm?ReleaseID=644158
"For eligible patients, the program also includes the following:
Free Medicine Program: Vertex will provide KALYDECO for free to people who do not have insurance and have an annual household income of $150,000 or less; and
Co-Pay Assistance Program: For patients with commercial insurance plans that cover KALYDECO and who are enrolled in the Guidance and Patient Support, or GPS, program, there will be a minimal out-of-pocket obligation after which Vertex will help cover co-pay or co-insurance costs up to 30 percent of the list price of the medicine. There is no income limit to be eligible for this program."
"For eligible patients, the program also includes the following:
Free Medicine Program: Vertex will provide KALYDECO for free to people who do not have insurance and have an annual household income of $150,000 or less; and
Co-Pay Assistance Program: For patients with commercial insurance plans that cover KALYDECO and who are enrolled in the Guidance and Patient Support, or GPS, program, there will be a minimal out-of-pocket obligation after which Vertex will help cover co-pay or co-insurance costs up to 30 percent of the list price of the medicine. There is no income limit to be eligible for this program."
musclemania70
New member
I hope people read, do research and learn the facts BEFORE putting out any kind of negative feedback to this company or the foundation. Its best to become educated before jumping to conclusions.
musclemania70
New member
I hope people read, do research and learn the facts BEFORE putting out any kind of negative feedback to this company or the foundation. Its best to become educated before jumping to conclusions.