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TOPIC: WTF
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OK. That's a separate argument. So we can put this one that it's executive compensation to rest.

I don't have time right now but I can come back and talk about that. But I'll give you a preview - it's all math. There are some good articles out there if you google "US subsidizes the world's drug prices"

Windermere FL
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You can tell it's a slow snow day.....Other employee wages is a different argument. But we can opine that's it's not reasonable or perhaps the right thing when many people can't afford meds...

Parsippany NJ
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In almost $50 billion in sales? No. We can make arguments about whether or not that's reasonable, but it's not a serious contributor to the cost of their products. Less than 0.05%.

Same way people say that workers aren't paid enough because of executive compensation. WalMart's CEO makes $26M a year. They have 2.3 million employees globally. If he were to give away his entire compensation to WalMart's employees that would be just 1.1 cents an hour (assuming they are on average 1,000 hours per year i.e. 20 hours per week). In other words, arguments that WalMart (or almost any large employer)'s employees are paid low because of high executive compensation is, well, demonstrably false.

Windermere FL
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...This is demonstrably false. Is 24 mm in comp really not a factor....

Parsippany NJ
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Hang on dere fella

You alluded to the idea that the price of drugs were high due to high CEO compensation. This is demonstrably false.

(this same sort of analysis can be used for almost any company or industry. Executive compensation almost never plays any real part on the cost)

Windermere FL
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(pictures VA gritting his teeth and trying to decide whether to wade back in)

chezlove, don’t tempt him! ;-*

Bridgewater NJ
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That's one math analysis. But compensation for executives isn't based on a simple math formula.... just sayin' . Performance based yes, but at what point does the true cost of manufacturing a drug (all in), come into play for what the mark up is?

Parsippany NJ
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As for the economics with respect to what goes on in pharma, I've been down this road in here many times, often in great detail with respect to the math. I don't expect to be any more successful this time around than any previous time, so I'll just leave it.

Windermere FL
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Aside from what anyone else thinks about pricing from pharma, the argument that high CEO compensations have anything to do with it doesn't hold up to basic mathematics.

The CEO of Pfizer, for instance, raked in $24 million in 2014. Sales of Pfizer's products in that year were $49.605 billion. His compensation amounts to 0.0484% of their sales.

If he worked for free, the price of a $10,000 drug would drop all the way to $9,995.16.

Windermere FL
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@ncal: "dont blame big pharma for the cost of the drugs"... what alternative universe are you living in?

Here's a fact:

CEOs of the 14 biotech and pharmaceutical companies in the Standard & Poor's 500 that served all of 2015 pulled down median compensation packages valued at $18.5 million in 2015, according to a USA TODAY analysis of data from S&P Global Market Intelligence. That was 71% greater than the median $10.8 million hauled in by S&P 500 executives in all industries

Parsippany NJ
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TOPIC: WTF
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