https://www.statnews.com/2020/01/12/venture-capitalist-alexis-borisy-bring-down-drug-prices/ … Does anybody understand why this business model hasn't been done before? (Develop new drugs that mimic the effects of other approved drugs; sell them at lower prices; make a profit by gaining market share.)
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"But at least one big factor in this plan is not entirely in EQRx’s control: Someone has to buy the equivalar instead of the blockbuster it copied precisely because it is cheaper. Faith that this will happen is one of the reasons investors are backing Borisy." Hmmm...
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Why isn't it obvious that insurance companies would prefer to cover a (FDA-approved, proven-equivalent) cheap drug over an expensive drug for the same disease? Even monopolies and oligopolies have an interest in lowering their *costs*.
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Replying to @s_r_constantin
Insurance companies have difficulty restricting formularies, doctors often aren't aware of costs
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Replying to @WatsonLadd
what does "difficulty restricting formularies" mean?
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Replying to @s_r_constantin
Insurance companies have a list of drugs they will cover. This is their formulary. They may also have step therapy where some treatments must be tried first. Both are very unpopular.
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ahhhh so I misunderstood how the system works. it's worse than I thought. okay then.
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