Go to meetfabric.com/MODERNMBA and start investing in your child today. 0:00 Unprecedented Virality 3:01 Sponsor Break (Fabric by Gerber Life) 5:00 Big Pharma Deconstructed 14:37 Eli Lilly 25:01 Novo Nordisk
I don’t like showing that you can invest as little as $1/day when the monthly fee for the plan is $3/month, meaning that the monthly fee is 10% of their first example of “just start at $1 a day”. If they said $10/day or something realistic it would be better
Just wanna say you have quickly become one of my favorite youtubers. Content that is truly educational and somehow entertaining that I actually have the patience to sit down and watch. Please keep making videos
@@USDFIEND its his choice i could care less im only speaking about the noticable drop in quality when the upload frequency increased so he could capitalize from his better produced videos from before
An even dirtier business around weight loss is weight loss supplements that have little to no regulation around the burden of proof for their claims. The supplement industry as a whole has this issues around poor regulation and poor scientific backing.
Supplements have been under regulated in many countries for way too long. Meds go through an arduous process over a long period of time; supplements don’t. Still there are bozos who trust supplements more than medication.
@kylemalachowski It's dirtier imo because it deceives people with "medicine" that will most likely do nothing. Like AG1 for example, is just a mix of a ton of ingredients that are marketable, with some being evidence based and most being barely studied or not at all. Even then, most are severely underdosed compared to the research on those ingredients. They put ingredients from studies that are tens of grams each roughly into a proprietary blends that's only come out to 2-3grams. Edit: My tags aren't working properly, rip
Another thing to note is that vast majority of research regarding these drugs is funded by taxpayer dollars in the form of grants to university and national labs. Insane how we privatize gains and socialize losses time and time again
Stop socializing things and suddenly all those private individuals will finally succeed or fail on their own terms. The government is supposed to work FOR the people not to rule the people. They're an employee not someone above the average citizen.
We don't need patents to innovate. The pre-clinical discovery process represents only a fraction of the cost, and that is greatly inflated by federal grants, tax breaks, and other unnecessary burdens.
This is complete BS. First of all, the majority of clinical research sites are NOT in public universities but in private clinics or private universities. Second, clinical sites get paid a boat load of money to carry out the trials, so much so that a lot of times clinical research ends up subsidicing the patient care side of the clinics.
@Kosme88 not false at all. At the end of the day, the US taxpayer is the one footing the bill, even at private universities, because they get funding from the NIH
@Kosme88 Also, considering how most of the research is still done in the US, that doesn't explain why Americans pay so much more for the same medications. It's complete lunacy.
@@Kosme88 Private research universities receive more taxpayer funding than any public university. Who receives more tax dollars than any other university? Harvard. You can imagine what the rest of the list looks like.
Especially when you realize all of the research is done by students at publicly funded universities. These pharmaceutical companies do no research.They just buy the patents
The people who do the actual work at these companies tend to be true believers and want to make the world a better place. The government could absoloutely run the R&D by just removing the greedy middle men, reducing costs substantially and allowing everyone to benefit. Capitalism falls apart when profit motive goes against societies interests and that's where government needs to step in.
@@chillypacmanwe currently live in a capitalist society that promotes opioids and ignores the negative effects, ignored aids epidemic and extort poor people for every day meds like EpiPens and inhalers. @stefi747 is correct. If we can send billions to fund the military industrial complex for Israel and Ukraine I see no reason why we can't fund medicine
$4bn per year is diddly squat in terms of R&D for medication. If governments could easily do this, more of them would be and then selling it to other governments
@@chillypacmanhow is it capitalism when it's the government giving money to whoever they want after taking it from its own citizens? That's socialism, dummy.
bro, this has become my favorite youtube channel, such high quality insights, and reads my mind, I was just searching ozempic videos before this uploaded
Regulatory authorities have a waaaaaay higher standar than medics do when dealing with new drugs. I don't expect you to know everything but that line is the exact opposite of reality.
Shareholder wealth should not eclipse keeping people alive. When a primary wage earner dies due to inaccessible treatment often the entire family collapses into poverty and society pays the price to assist. Privatized profits, socialized losses.
You can always start your own pharmaceutical company any time. No one works for free and there are no greedy companies, just greedy people. Almost everyone is wired like that. If you could charge x2 for your work, you would do it immediately, so companies do the same.
@@dieterrouge8059 Someone doesn’t understand how cartels form and work. And why they are the antithesis of open markets. Cartels are why common treatments (like insulin) went from affordable to unaffordable due to cartel control of manufacturing, causing the deaths of people who could no longer afford the once-affordable drugs. We have no problems banning advertising of cigarettes and alcohol but for some reason lifted the ban on prescription drugs causing unnecessary price increases to pay for their ad campaigns and sale costs. No other country allows this. Only the US which causes costs to rise for no reason.
Interesting discussion of pharma and weight loss drugs, and I particularly didn't know about the 1st generation of these drugs being associated with pancreatic cancer! That's absolutely something to keep an eye on as time passes. But I do think that one can note that maintaining a healthy weight through willpower is a quite recent phenomena, really only experienced in the past few decades as food abundance rose, physical work became rare, and travel via walking replaced by car trips.We should keep in mind that our ancestors didn't evolve needing willpower to stay a healthy weight. Indeed the struggle was more frequently keeping weight than losing it. Finding a drug that effectively solves the willpower problem isn't that weird in the context of how much drugs impact humans in so many ways and how our food system has become effectively drugs made to drain willpower. So even if GLP-1s do turn out to have long term negative side effects, I also think some kind of pharmaceutical intervention is going to be the most viable way to solve the obesity crisis on a mass scale, and there's some early data that appears to be showing GLP-1s are working for that purpose.
He literally went over it in the video. “PBMs have an incentive to promote the drug that gives the most rebate, not necessarily the drug that is the cheapest or the most effective”
Most drugs we have today are built off of the work of people at public funded universities or public research grants. The NIH is the largest provider of research grants in the world. These are all from tax dollars from governments, I have no idea where your argument that drug development is better off privatized (8:55) comes from as even big pharma benefits here in not having to invest R&D into work that is unlikely to directly yield profits. In fact, many private companies refuse to invest in addressing certain diseases because there's not enough profits to be had there. That's one of the reason's why development has been so slow on addressing one of the deadliest diseases in the world, malaria, largely because the burden of it largely falls on poor populations and countries. Sure it's not black or white, but calling the current set up one of the "better ones today" is very misleading.
Navigating the American healthcare system seems like a nightmare for patients, as suggested in a recent South Park episode. I was recently diagnosed with ADHD, and I received my prescribed medication for €5 at the local pharmacy on the same day.
I think you have made a misstep in saying that pharma companies can’t create with out massive profit originally the government funded most of the vaccines even penicillin came from government rnd . It’s possible for the government to fund this sector it just won’t be valuable to business
I really don't get the whole "no government could foot the bill for drug development". Your given example is a 1 billion dollar drug, but the US budget is over 6 trillion, so 6,000 times that amount. Surely the government could spare 0.1% of its funds for drug research. And don't the Covid vaccines just entirely fly in the face of this idea as they were largely developed with government funding?
1 billion per succesful drug. You are not considering all the unsuccesful drugs. So its more of a 100x factor. The true cost innovation means that there will be a lot of losers.
For every 1 billion to develop a successful drug that may or may not be useful, 10 billion goes down the drain. There are currently 7,000+ drugs in development. That’s 7 trillion dollars
jesus i haven't heard of a worse idea 1 government is slow inefficient that 1 billion is "for profit" (r&d moneys comes from the profits of previous drugs) so after you convert the system 100 billion would be needed as the government doesnt care about profit(they are deficit spenders) as they experiment and pursue all options rather than viable ones 2 all drug future (after the government take over)patents would be own by the government and guess what hostile nations would lose access a literal crime against humanity 3 since the government owns the patent and will license it out it will essentially be a second tax on the companies that make drugs these are just the money moves and huge issues arise what about the technicals how about the testing of drugs? governments have experimented on people without consent before ,for little incentive(basically none) why wouldn't the government just use prisoners? and actual try to use a government run health system(hospitals in canada) they are garbage for basic ass problems and even worse for serious issues i knew a guy who needed knee surgery on the waitlist for 2.5 years if he had gotten it on time not 3 years laters he wouldnt need a cane or crutch to walk today ive personally waited 4 hours for stiches, in a hospital urgent care/ emergency room with less than 10 patients i only needed 3 stitches to close a flap of skin over the cut
What a great subject! I know a bit about pharmaceutical research in general from my studies, but not as much on the details of the business. Big pharma is def not to be trusted in terms of doing what's best for the health of the consumer, as it is a business with the singular goal to make money (like everything in the US where it's unfortunately often at the detriment of consumers health/psychological well-being, environment, and/or animals/people exploited to make the product/service). Thanks for the info, appreciate this channel
This video has been very enlightening. My brother has worked in the pharmaceutical industry, but I don't think it wasn't what he expected or hoped for. Now I understand some of the reasons why.
You really screwed up the insulin section. "They had no choice"... Do you think diabetics just died before these new fancy insulins came out? And its not patents limiting generics for biologics. Its biosimilar approval. Biologics are not like drugs. You can't just show it's the same molecule, like a generic drug can. The molecules are far too complicated.
Oh hell yeah finally a video I can chime in on with some useful info. I know a guy, a former classmate, he studied some of the same classes in bioinformatics as I did in CS. He later switched degrees to the medical faculty (I don't recall what, sorry) and works as a lab technician at R&D in a large pharmaceutical company (think one step smaller than Pfizer or Bayer, EU based). Back at uni, he was pretty much as close to ancap as you can be (he styled himself as "anti-socialist libertarian") and even he after working in pharma for a few years said it just straight up economically does not make sense for pharma to be privatised exactly because of what Modern MBA mentioned, that 90% of drugs don't make it to the market and the reward is a straight-up monopoly.
I love your channel, it has helped me soo many times when talking to clients they feel like im super business savy. Thank you sooo freaking much for the help 😊
I still don’t understand what is “dirty” about this business? It saves people’s lives and is a godsend miracle drug. Starbucks is far dirtier with its coffee flavored 1000 calorie, $9 milkshakes.
Honestly, the focus on willpower is nonsense anyway. Recent past generations weren't less fat because they had more willpower. It was because serving sizes were smaller and less addictive, people had tight knit communities where you could walk and take public transportation often, had better social services, had more third places where people could hang out and socialize without constantly spending money, had more stable housing and wages. When you have living conditions that are less shitty and isolated people will get healthier with time. The obesity epidemic is just as much a self-medicating epidemic as anything. I tie it very closely to the wide overuse of anti-depressants and mood stabilizers. Gaslighting people that societal problems are all personal failures, and the only option is to medicate yourself and keep on trucking. It just doesn't work. People will get sicker both emotionally and physically and that isn't being resolved.
I'm still watching through and will hear you out but this is the first video I've seen where I've felt a little iffy about a lot of the assumptions made in producing the overall argument. The assertions of private vs public funding especially had me confused if you were arguing rhetorically from big pharma's own uncritical narrative of this flawed funding model. There's a lot of money in big pharma, but drug research is still extremely reliant on public funding despite big pharma's proselytizing about their essential private role in the current research model. Also a little surprised that early extended editing error made it into the final edit.
good video overall. the existing system of prescription distribution and pricing is awful and you'd have to be clueless to trust any of these companies. I think there's a lot of promise in these medications for people in specific situations, but the ongoing conditions of its distribution are extremely concerning. back to my original comment I also want to be clear that public money isn't the only funding mechanism by any stretch (saw some other comments imply this), I just think a lot of nuance was missing from a pretty sweeping statement on drug research.
>drugs guarantee results >diet doesn't If you eat at a 1000kcal deficit every day you are guaranteed to lose 1kg every week (mean weight, your instantaneous weight fluctuates throughout the day by quite a lot as you gain and lose water). Weight loss is the simplest form of self improvement, it just takes a modicum of discipline.
@@scooterankle6709Lol so many people just stating shit like OP with absolutely no evidence you’d think there’s some bot campaign going on. I know there’s definitely not and people are just generally stupid and dont understand why everything can’t just be made free and daddy gov pay for everything, but again, lol
FANTASTIC, well-researched video except for this one line at 7:00: "Drug innovation is so cost-prohibitive and risky that no government could ever foot the bill for it." This is not at all true. In fact, the opposite is true. This assertion betrays a lack of understanding of the Western healthcare industry. For starters, most pharmaceutical research IS publicly funded. For many areas of research, governments are THE ONLY entities capable of engaging in high-risk, high-reward, long-term research (e.g., the Internet, the Manhattan Project, and almost all university-based research, including basic research in pharmacology and biochemistry...).
I have been on a GLP1 for 12 weeks and lost 20lbs. Since it is on FDA shortage, i can legally get a compounded generic though telehealth. If that goes away, I will do medical tourism or buy direct from shady pharmaceutical companies. I am starting to excersize now, and want to lose another 20lbs. I strongly disagree that this is a "willpower" issue. the GLP1 has retrained my brain that i don't need a full plate of food. Its a food addiction. GLP1 immediately stopped by caffeine addition after the 1st shot and I went from a few alcoholic drinks on the weekend to zero. There are thousand of people that talk about food noise. GLP1 does something in the brain to stop it. Anyone that is taking it understand what I am saying. People that dont take it, feel the need to mock it as a will power issue.
I am a doctor who has experience with the GLP1s since they were being used for diabetes. They can definitely help people, and I agree that the willpower argument for obesity (as opposed to an otherwise healthy person sliding into bad habits and putting on a few) is naive and ignorant. That being said though, be careful. There is a rebound effect once you stop treatment, and the longer you’re on treatment, the more muscle and possibly even bone mass you’ll lose. This is a big deal as you age and are some of the strongest markers for long term health. Try to counteract this as best you can while you’re on the treatment.
I'm retired at 27, went from Grass to Grace. This video here reminds me of my transformation from a nobody to good home, honest wife, $35k biweekly and a good daughter full of love🤍🤍
I raised 75k and Christine Evelyn Mackie is to be thanked. I got my self my dream car a just last weekend, My journey with her started after my best friend came back from New York and saw me suffering in dept then told me about her and how to change my life through her. Christine Evelyn Mackie is the kind of person one needs in his or her life! I got a home, a good wife, and a beautiful daughter. Note!: this is not a promotion but me trying to make a point that no matter what happens, always have faith and keep living!!
I've always wanted to be involved for a long time but the volatility in the price has been very confusing to me. Although I have watched a lot of RU-vid videos about it but I still find it hard to understand
Maybe the government should fill in the gaps by inventing less profitable drugs, and let companies make the lucrative stuff. It's probably already like that and i just don't know anything 😂
My doctor tried to get my on Wegovy. I told him I was very apprehensive of these type of drugs so he sent me home with a months supply for free. Literally $1k worth of the stuff, he just had it sitting around and I left the office with the box. That's how hard these companies are getting doctors to push the drug. I decided not to and continued to focus on diet and exercise, which has been working. I never went back to that doctor.
7:00 You say that government couldn't afford medical R&D, but this is completely backwards, governments could easily foot the bill and are uniquely placed to do so. With access to low interest loans, bonds, the ability to create money, and a guaranteed income from taxes, governments are perhaps the only institution with the resources and the long term vision to invest properly in medical R&D.
You trust the government that wastes billions of dollars to be the captain of a 7 trillion dollar pharma R&D budget? The pentagon was purchasing $14K on toilet seat lids. Get a hold of reality
Absolutely. At the start he even said the private sector is incentivized to make drugs you have to take on a recurring basis instead of just once. Public sector drug research would not have this incentive, so we could possibly have even better drugs than under this current system…
Most of the research and development are already done at public universities by research students. So technically, the government is already footing the bill.
then there is no incentive. if you fail and just roll back onto government money, then the push for innovation won't exist. even then, imagine a lab researching a drug and having spent $10 billion on the product fails. imagine how a government would explain to taxpayers that they threw away $10 billion with nothing to show for it. in the private sector, there is a level of company survival that motivates innovation otherwise they cease to exist. to top it off, a clear conflict of interest would exist with the government also being the drug regulator approving developed drugs
This video seems much more weirdly negative than your other videos. If willpower worked, people would already be skinnier. GLP-1s work on different hormones in the body which regulate appetite, satiety and metabolism. They've also been shown to help people with stopping smoking and other addictive behaviors. I sincerely doubt you'd say people who smoke need to 'earn' the willpower to stop. I think it's fair to be wary of 'big pharma', especially since they seem to be focused on making all their money off Americans, but this video seems to be suspicious of the idea that chronic conditions that require medication exist and that weight loss without 'willpower' should be possible.
We’ll do everything but eat a healthier diet and workout consistently. The government could quickly help guide our health in a better direction by banning harmful ingredients in food, stopping farm subsidies for certain crops, put money towards nation wide physical fitness efforts and more.
This is just a massive medical breakthrough, of the kind that do come from time to time but are rare. Their massive financial success is earned, honestly. I think this is a very negative video, the price of Insulin in the USA is clearly the sign of a failure to facilitate proper competition, but I don't think its at all fair to compare Ozempic to Oxycontin. I think the most telling line is this whole video is your closing statement about willpower. I agree it feels wrong for other people to buy what you earnt through willpower. But this is not a reason to take issue with Pharma companies - people should've lost weight last year and the year before that and they didn't. It is a good thing to create an effective weight loss drug, that is progress, even if it seems stupid that this is a problem, the problem is massive.
Nah let's just keep alluding to other solutions, with no concrete plan or an will to actually implement them. That will fix the situation. In completely unrelated news: US obesity rate fell for the first time since the 80s, I wonder why that is?
Good video, but saying that GLP1 drugs treat only the symptom and not the disease is incorrect. GLP1 actually reduces cravings in most people and makes it prohibitively difficult to eat nearly as much as you did before. And your commenr at end about your own weight loss. Im really glad you pulled it off and improved your quality of life, but weight loss is a very personal, difficult thing for mamy people to pull off not just once, but PERMANENTLY. You can't apply your standards to everyone else. Weight is a struggle with deep psychological roots.
The exertion and starvation that comes with a discipline approach can mess up quality of life as well. No matter how healthy you are, there is always someone who has gone one step further, taking a diet and workout routine that you wouldn't do to improve themselves even more. So it shouldn't be hard for all of us to understand why someone might not want to subject themselves to discipline, but is willing to spend $1000 a month.
@@FullLengthInterstates I’d go further, and say that it isn’t even an ‘either-or’ false choice. You can do lifestyle changes AND medication AT THE SAME TIME. And get great results that way. 🌟 And, many ppl do exactly that. Not sure where so many get the idea that the two are mutually exclusive. My guess? Likely from the diet and fitness industry, which tends to see the meds as a THREAT, rather than something to be worked WITH. 🤔
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
not sure this type of video is your wheelhouse. you're modern mba and not modern md. you failed to highlight any of the benefits of the drug as a result of weight loss (reduced cvd, mental health, heart issues, etc.). these weight loss drugs aren't opioids, and your comparison to it cheapens your argument a lot. seems like your argument is based on "because pharma corporations did bad stuff in the past, the new drug they made must also be bad and predatory" without addressing the scientific studies that show why these are revolutionary.
I think this is your best video made. It is extremely important for Americans to understand the health care system, but nearly nobody does. This was very informative. Thank you!
I didn't know about the insulin backstory, I thought insulin had been around for decades and was not expensive. To anyone wanting to do weight loss properly, just quit all processed foods, all added sugar and all animal products. Yes this will make you a 'closet vegan' but, once you get into cooking from scratch with mostly vegetables, you will wonder why on earth you ever ate that other stuff.
These types of drugs (GLP-1s) have been on the market since 2005. We just didn’t hear about them ‘til Ozempic, and celebrity use and TikTok influencers.
@@sunshineyellow Ozempic’s approved for Type 2 diabetes, but not for weight-loss. But, it got prescribed off-label for weight-loss a lot, ‘cuz it was highly effective. A version of Ozempic specifically for weight-loss got approved in 2021. It got branded as Wegovy. Saxenda, as mentioned, is a med of the same type that was approved for weight-loss back in 2014. But it wasn’t as effective, so it just never got big media attention.
I've been on a weight loss journey for about 2 years now. Trying my absolute best to do it the right way: change in eating habits, regular gym visits, drinking less, etc. I was successful for about 18 months then hit a wall for the last 6 months. Not putting any weight back on but not dropping any. It seems like everyone I know is on these weight loss drugs now, including people I personally view as "thin" or "VERY thin". I've resisted trying the drugs so far but it is VERY hard to do so.
Well, more than half of the drug cost it's been offset by less food spending. If somebody has no the will to change food habits, this medication helps a lot, and with positive results for health.
Thank you for saying that the business model works and is morally wrong. You are going to have an influence on the next generation of businessmen. The previous and current generation are rarely given examples to look up to of savvy business insight with a moral compass. Hoping this and other videos have a wide impact
I'm right there with you. I was 300 pounds before I started losing weight. Got down to 144 for my doctor said I was done and maybe could've stood to bulk up a bit because I was getting to the point where being thinner was a health risk. Not the easiest thing to do. Now there are drugs that can do that? I think the universe just doesn't like me.
My father in-law is on Ozempic for diabetes. He gets the ozempic flu every week. It looks miserable. God forbid he eat a strict keto diet to cure his condition instead. Smh, embarrassed for him.
In the Western culture, we want quick and easy results over long and harder changes. It's why people that are overweight choose to consume fast food, rather than taking the time to cook a healthy meal.
I have this crazy idea called just not giving a shit about how much i weigh since it's not causing me any problems. Occasionally I'll check for fun and it's pretty much always the same number roughly. That's good, I think.
I'm curious if anybody has analyzed the cost of giving everybody weight loss drugs subsidized by insurance vs regulating food to not contain all of the stuff making people fat in the first place.
If it was that easy there would not be a industry around it. Want to make more money, work more hours. Want to get to the destination faster, drive faster. Yes, it works, but life is often more complicated than that.
