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Pfizer says it will price Covid treatment Paxlovid at nearly $1,400 for a five-day course, which researchers estimate only costs Pfizer $13 to produce. That's a 10,000%+ markup. Shameful. (mastodon.world)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 2 points 1 year ago (1 children)

It's like

– Arms dealer: Each tank cost me 500,000 dollars to make. Give me 5 billion for each.

– Let's negotiate. How about 500 million instead?

– Arms dealer: Fiiine, but only because you're a good client.

[–] [email protected] 1 points 1 year ago

This is legitimately how it works in the US between insurance and pharma/medical.

I just had a baby and I added up the total bill from the hospital and it was $100,000. We were in the hospital for 3 days. My insurance "negotiated" it down to $26,000, and I paid $3000.

The $100,000 is completely made up from the beginning. Pharma and medical just slap big ass ridiculous numbers down, then the insurance fake negotiates down to a still completely ridiculous number, then that cost has to get eaten by people who pay into insurance, which is basically everyone.