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'Absolute Robbery': Gilead Announces $3,120 Price Tag for Covid-19 Drug Developed With $70 Million in Taxpayer Support

FYI most trade and investment ‘agreements’ contain “survival” provisions which take effect under various unanticipated conditions. It seems to me that generally the instruments and those provisions are upheld irregardless of what government made the original deal, and are binding on whomever inhabits the same physical area, even if the government actors change.

So if for example, we are obligated to give certain rights to other countries - say to offshore and outsource jobs, even a revolution would not discharge that responsibility. Only negotiating mutually accepted compensation for the expected lost profits would.

A trade agreement made way back then is supposed to trade a potentially unlimited number of jobs away, if it turns out our quotas violate the terms of the agreement.

It seems not unlikely to me that we could lose this case which has received virtually no coverage for something with such a globe changing potential.

This case is likely why so much has been invested in making sure Biden or Trump is the next President and not anybody who takes the interest of the human beings.

Make no mistake about it, a loss could basically nullify the advantages, earnings wise of living in the US over Third World countries by making it okay to import a completely new much less expensive labor force, exempt from immigration laws - for the reason that ts not immigration to just work. (Non-immigrant visas - work visas say that on their cover and the WTO agreement thats at question gives the WTO the ability to decide) SO we basically have already lost.

Arent our ‘leaders’ and their wealthy friends around the world so very slick?

They have all the answers.

However at least for a while it might become a great place to start businesses and export because of the desperate, dirt cheap labor. We dont know how it would work out frankly, and whatever happens to us might also be binding on other countries that like us made extensive commitments. The UK might be in the same mess we are because they left the EU which might have given them some protection.

So we may really have been screwed and we have no idea how badly until it actually is happening. It may be up there with the Treaty of Versailles.

Remember, back in the 1990s, trading away an unlimited number of jobs may have seen like it was impossible, as there was a labor shortage and wages were being inflated by the Internet Bubble.

Because they all own its stock.

I must say Zed that you seem very well versed in trade agreement fine print, and I have nothing but suspicion about the contents of those agreements when negotiated by those in power, so I defer to your opinion on the matter. Sounds like we are screwed barring a major change in leadership, which I doubt will ever happen on that front.

I suppose I could be wrong. Its a shame that the late Nick Skala isnt alive to help us sort it out.

~https://www.youtube.com/watch?v=dWBZz070m-k

Here is the paper he published in 2009.

~http://www.pnhp.org/sites/default/files/Nick%20Skala%20GAT%20and%20Health%20Reform.pdf

Your own state did an investigation of this issue. You may have to use Archive dot org to look at it.

~https://www.maine.gov/legis/opla/ctpchlthcaresub.pdf

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Just read this on the UK Guardian:

“US buys up world stock of key Covid-19 drug” -

" The US has bought up virtually all the stocks for the next three months of one of the two drugs proven to work against Covid-19, leaving none for the UK, Europe or most of the rest of the world.

Experts and access to medicines campaigners are alarmed both by the US unilateral action on remdesiv and the wider implications, for instance in the event of a vaccine becoming available. The Trump administration has already shown it is prepared to outbid and outmanoeuvre all other countries to secure the medical supplies it needs for the US."

““President Trump has struck an amazing deal to ensure Americans have access to the first authorised therapeutic for Covid-19,” said the US health and human services secretary Alex Azar. “To the extent possible, we want to ensure that any American patient who needs remdesivir can get it. The Trump administration is doing everything in our power to learn more about life-saving therapeutics for Covid-19 and secure access to these options for the American people.’”

Can’t make this stuff up.

Politicians, all in collusion enabling corporate murder.
Its time we eliminated the system that enables insider trading by politicians.

Somewhat redundant to my post above …

The deal he made was to pay an outrageously high price (the topic of this article) and make it so Gilead won’t have to sell to any one else in the developed world because we are such suckers. In the mean time, the generic version being sold in 127 different countries will cost next to nothing.

Meanwhile, most of the supplies he bought will sit in warehouses unused as a better drug will follow before it is used.

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How do they get away with that? Just wondering.

deleted due to redundancy

As AOC famously said - I believe the answer starts with a “C” and ends with an “apitalism"

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Ok, but that doesn’t account for our social programs that adhere to Capitalism isn’t that the role of entitlements?

They only adhere to Capitalism when they are commercial entities.

Thank you but that is still an unaccountable generality, there is a provision for this, I just don’t know what it is.

I dont follow what you mean at all, also keep in mind that I am not any kind of expert since I’m not a lawyer.

They are just forming WTO law also, We’re being used to create new WTO law.

They are tired of national laws.

This is from Forbes: This is the case I keep talking about.

~https://www.forbes.com/sites/timworstall/2016/03/05/indias-quite-right-in-the-wto-complaint-over-us-temporary-visa-fees

Medical services are regulated by federal code, “The entitlements” that you hear about sometimes. They are pretty specific. I’m just not that up on this part of the spectrum, only that there has to be one.

HB-1 visas would probably not impact drug prices, but more specifically who would administer them. More likely why your doctor speaks English as a second language. My doctors are Chinese.

Okay - my answer was only semi-serious. The point I would make is that it is easy for companies to “get away” with this type of price gouging when the government is a wholly vested partner in the endeavor.

Normally a pharmaceutical company would negotiate with each country/entity separately or in small blocks. In the U.S. where Medicare is not allowed to negotiate by law the VA and Medicaid will get a better deal than Medicare. Canada will get a much better deal than the U.S. as will every other developed country. Trump just said he’d pay top dollar to Gilead and take whatever stock they had if they agreed to also overcharge every other developed country (Trump would rather buy stuff we don’t need as prices we can’t afford as long as he thinks he’s won some advantage over the Europeans and Canadians by screwing them over).

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Thank you very much. Yeah, those public-private partnerships, ok.

This is a little more information on this: dpearl is correct on this as a PPP (public-private partnership)

~https://www.who.int/intellectualproperty/topics/ppp/en/

Are they Western style medical doctors or “TCM” “practiioners”?