Millions there was millions it was probably 20000000. 00 i mean. I think for sure 20000000. 00 were invested between when i came to university of pennsylvania in 1909 until novara said the alliance were made in 2012 but the riskiest part was state and government yes all the initial research that showed this new concept of our car keys could work was the academic laboratories. In 2010 came the breakthrough in the cancer patient Douglas Olson however it was the news of 7 year old Emily Whitehead that spread around the world. Save the young leukemia patients wife and even 7 years after the infusion she remained cancer free. The treatment is more effective in children than adults. We had hundreds of calls for a venture capitalist warning to start new companies unfortunately had no part of call us about one of their commercial artist. Inventing a drug is one thing says novartis but putting the research into practical use through a market launch is costly and time consuming insiders say no parties paid the university about 225000000 for the exclusive right to sell kim ryan and novartis is paying the university about 5 percent of the sales price for each infusion the group has no comment on this the Health Care Industry is not transparent and its not been designed for the benefit directly of the patients and transparency are most recent estimates. Are around 55000. 00 just to make the card she said thats. Cost per patient and with no profit. So the actual cost is almost 7. 00 times cheaper the university however had only done small scale trials with camera while novartis had to fund world wide studies to attain market approval and build centers to produce the treatment. Is still waiting for his cancer killing cells from the us when suddenly a message comes from nova artists the group will give him to mariah for free. Plus it was made of all the saints were filled with joy and very relieved to be. Read as a lot of money at stake and also of azza will start their own cult of what about other teams i have patients standing looking like. Those i dont know novartis is a plaid seemed the friend ethically its a delicate question as to whom the artist gives free trade up to yes of course. The 1st 2 swiss patients are being given key riaa for free because negotiations with Health Care Insurers are taking so long nov artists explains. Mikail a father of 2 children will ultimately lose the race against time no hartis usa informs him that his cancer killing cells have not managed to multiply well enough to produce camera. 1000 days later he dies. My name is paul cloyd can. In the pharmaceutical industry for 30 years in the last position was a us president and chief executive officer of a company i am retired now and over the last 5 years i have been dealing with and then incurable cancer. So car and what its like to show you. All the medications that i have to take in a day. This being the most important one just as my anticancer drug. This product is to take one of these capsules for a day the cost of those a 750. 00 each and entrusting only enough they only cost 1. 00 each to manufacture what do you think about the price of 370000 swiss francs for a camera thats ridiculous car it should never happen this is a product that was developed at the expense of the us taxpayer did you have a different view when you were still a former manager then you have now on your industry. The answer is. Yes current and. For 2 reasons 1st i was not a patient ive been part of the system ive been a my familys been a beneficiary of that system. I really didnt know any better at the time you know you go to work at to get a perspective which is the Company Perspective and what you learn as you get older is your perspective becomes much wider. Than is the former c. E. O. Of a Company Acquired by no barges in 2002 he says no participant so benefited from a 50 Percent Discount on the cost of its trials and camera this was the us is way up Incentivizing Research on a Rare Diseases its people like myself who actually have funded the development produce Development Program or half the Development Program of come right out and what we get in return is basically a punch in the teeth from the artist. Recreated a price model for camera based on no participants claims that it had invested over 1000000000 euros by the time the treatment was approved. I calculated a fair price current all for 200000. 00 or infusion in 2019 using the assumptions using the assumption that novo artists were generated total of 1700. 00 patients infusions out of 14. Out of 14000 potentially. Goes on we can actually drop that price it can be reduced to about half of 370000 francs the fair price is calculated in such a way that no bar to sit chiefs an average operating profit of 20. 7 percent the Research Cost averaging at 17. 3 percent are also included in this calculation the Health Insurer associates. Theres also demanding a price of 200000 francs for him right. Ive looked at the document you sammy the document is full of Incorrect Information they came with the correct information i cannot give you that and i am up i cannot comment on it because it is not ardent da our data is not our document the criticism on the farm are not just novartis but on the pharmacy in transparency is growing worldwide we hear it we age o. B. Hear it with the Health Insurers with the public because the public is the payer. Are you afraid that this will damage the image of nobodies. Are not afraid of damage to the term of art is or you mention in transparency transparency is required across the system not just from one party our government is asking for transparency because we have a transparent list for prices i think its the opposite. Or it can be discussed in a Broader Group i think its a bit its a different conversation. 71 year old court bending or they are and also has left no cancer and he says if he has the strength he goes out with his dollars because of the price dispute he has had to wait 3 months for the Health Insurer to decide whether to pay for camera. Quite a few could you afford it if the Health Insurance didnt pay when he owned approach i were 100 percent sure it would work i would sell my health but i cant like it if it doesnt work my wife will be left with nothing thats out of the question in my house as ever it is that most of us have an excuse that the company didnt pay for you or you wouldnt do it may know its too risky stunt because the low chance of being cured. And. Each year around 110 Cancer Patients in switzerland who have undergone all other treatments to no avail receive camera and the 64 year old teacher unconscious or in bun maryland is one of them. The question is what is a human life worth it is to put it bluntly youre over 60 if a young person asks how much longer do you have left is it even worth it when curing your illness is a best Case Scenario and does it hurt to hear that kind of question. Now you have to think of it now and its how you know what ive also met young people in the hospital who are in greater need when you look at it that way. Ive lived a decent life its been nicer for. The me i almost feel ashamed that even though i didnt set the price you feel very uncomfortable and so guilty that its the only chance he has left of course youre not going to say no. Do you feel guilty sure. Now i really need billy not really i was in good health for a long time and paid premiums for decades had never really needed anything that im a beam out and just have to struggle this came as a surprise because this Health Insurance is also paying for him right now. The price negotiations between the insurers and of artists took 4 months with the price being haggled up and down like at a bazaar. Some insurers threw in the towel while others came to an agreement with novartis. 4 insiders say insurers wanted a 45 Percent Discount on camera out for treating lymphatic cancer which was too much for novartis they instead agreed to a 20 to 30 Percent Discount to pending on coming riaa success rate meaning about 2500023000 extension 00 francs but no one is willing to talk about. The agreement after all is confidential in fact it is so shrouded in secrecy that Health Insurers such as concordia which were not in on the deal will not even find out their discount until they have signed the contract because from the think its scandalous this is the 1st time i know of for us to conclude a contract where we dont even know the price but usually thats unheard of in swiss health care with prices and contract clause as a normally transparent. You can usually check what you have to pay for hospital treatment and cost transparency is very important in health care otherwise we subjugate ourselves to the big corporations. Court ending or has to have another cell sample taken because novartis didnt manage to produce the cancer killing cells in the us as they did for me. In a school its clear of course it doesnt feel good things were looking up but 1st it is then that want an off cells at strain a cut. In the approval study for camera one 3rd of patients could not be treated at all either because the cancer killing cells couldnt be produced the patients illness. Had progressed too far or they had died waiting like mikail moonshine. Anton schlosser receives good news from the us his cancer killing cells have been successfully produced and are on their way to switzerland and because it is in one sense then you get that these cards here man cells cells that are Even Stronger than normal immune cells and soon you must pass yet many more and when immune cells get into action there are side effects last time i say sions may experience fever circulatory problems or even organ failure. In that site at best kidney failure for instance has been observed in about 20 percent of patients once but some of them needed dialysis that just has a huge puts an undue and material use as a potential most. Cancer killing cells can feel patients and kill them. So those cells are the last hope for those who would otherwise die of the disease. You know michelle for jerry my name is Alfred Scheidegger and im a risk capital investor be done here in San Francisco im attending the worlds Biggest Health care conference. Alfred scheidegger invests in small Biotech Companies developing new cancer drugs. Have a good day about his goal is to sell the Small Companies to pharmaceutical companies for a profit. So what. Are you doing yet you do not tell you what i know its play because its dark were doing all its good but just as youre mr shining whats going on here yeah thats a shot. Its like a marriage market its unbelievable. But you run into all kinds of Biotech Companies especially own political ones that fall mafia with pharmaceutical Companies Aiming to take over Small Companies later on once theyve provided proof that their cancer drug is effective in humans like we do and that its in the. 60 percent of new drugs are not developed by pharmaceutical companies but by small Biotech Companies they need a lot of money for studies with patients and this money comes from investors like alfred shah tica and marcos hosa. China goes company often invests during the early stages of research put the pharmaceutical industry pays the most when a Biotech Company is about to launch a new drug on the market so far this is buying the u. S. Company of texas the price secondly 90000000000. 00 gilliatt science has agreed to buy kites pharma for almost 12000000000. 00 no march as is now demanding a record price of 2100000. 00 for of access treatment in the state the vicinity feels there are calculations involved that have an impact on the price tag and the fact you have to gain back your investment and of course thats part of the market price in the event based on diet pills from bach plays with him riaa nov artist managed to avoid dealing with the Biotech Companies for investors by signing a contract directly with the university saving them billions. For Patient Court bending or at a hospital camera is able to be successfully produced on the 2nd try. To do your futility 3 milliliters cost 370000 francs. Doesnt satisfy this is a discussion that i frankly do not want to get into now at a patients bedside. Ive still got a life to live. I feel like i comprehend you have high hopes it will work. And tom shows i received his infusion 2 days earlier. Thats in the data base how you doing fine so i. Heard it tired right i fall asleep even if i want to watch something. Maclin would tell if the camera is working and this is very safe for the hot its too early we hope so of course but we cant tell through free will we have High Expectations of course thats there its its not all that scuse me for a moment no government representative on the phone informs her of new problems with camera since it is considered a hospital treatment the cantons have to cover 55 percent of the cost. Maybe i should stop and us out no were starting the process in parallel. By the car who has it because its a vicious circle because the Health Insurance only covers the costs if the cantonal government also agrees to give its parts are going as of this up as it does allow for by you know each of them says theyll only do it if the other has already agreed to the stem cut. We meeting with jenny lee an investment banker from hong kong where she covers china they clean all. China conducts the most trials on cancer killing cells worldwide and market observers say if the treatment is approved there it will cost about 70000. 00 to kind hearted thread and im going to hijack the brilliant bit last i did get their growth jenny lee says the Chinese Government is putting pressure on pharmaceutical companies. Of course then they have to lower their drugs so the approach marketing they said they out there that yeah that because youll want your game against that will be a huge wall that off the clock so that was all the oh yeah it is the law and if the pharmaceutical Companies Read my mind those high prices really the time this market cannot afford the chinese patients are our insurance is going to sell youll be all lost lawsuits. Are. Also used this about profit or saving lives some of the. Exterior existence the existential justification of a private company is to generate profits so simple feat. And that comes before life. You. Cant really answer that question. Anton schlossers wife documents his treatment using a cell phone. I use that no. Depressed no. Agitated. In the 1st days he has fever and chills so only minor side effects. Its the same story out in social retard with court bending or coming down with a fever but otherwise he feels fine. So do you feel like its doing any good. Or i can say that we dont know yet on there. Are heartless you know nothing you can write this Biotech Company is researching in the booming field of medicine is for Rare Diseases referred to as orphan drugs just like a mariah when you say 3 of these and 3. Are ready to quit focusing on or feel as if they should yet. Its. In the u. S. And e. U. Orphan drugs receive the exclusive marketing rights with similar products from competitors excluded from approval for up to 10 years states each has all come off to the cities a little more is built to Incentivize Research because once you obtain approval you enjoy a sort of exclusivity for several years a competitor cant just launch on the market thats exclusivity told to like it because we see exclusively dates. In the us the orphan drug act was enacted almost 40 years ago today the politician who initiated it meant that some pharmaceutical companies are exploiting their monopoly to increase their profits. The topic of orphan drugs and Market Exclusivity also reached switzerland a few years ago. Just. Ladies and gentlemen pursuant to Council Regulations for engaging in the debate on this topic i hereby disclose my vested interests. I am the president of into going to the Swiss Association of generic drug and bio similar manufacturers. In order to promote the development of medicines for Rare Diseases pharmaceutical companies should enjoy market exclusivities for 10 years for orphan drugs during this period no other medicinal product should be approved for the same therapeutic indication unless it is proven to be safer or more effective if your vehicle the point is the point is pharmaceutical companies are not social institutions and they only conduct research when they expect to profit from it this people have to know in order for new drugs for Rare Diseases to be introduced at all it takes a monopoly and this is achieved through Market Exclusivity hell push the market exclusively because often. When sebastian flame was voted into parliament he gave an access badge to novartis lobbyist at the time while no foreigners and russia donated nearly 900000 swiss francs to the middle class parties last year m m theyve at the bottom recently faced stella at the end of the debate it became clear to us it was not the patients who had gained anything its thro