U.S. grapples with record high drug shortages
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 12 April 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Friday, April 12. I'm Julie Morgan. |
| 0:12.7 | Drug shortages are at a record high in the US. |
| 0:16.2 | Robots are stealing our jobs. |
| 0:19.1 | No, they're not. |
| 0:20.3 | And one industrial company is restructuring its steel business. |
| 0:25.0 | Drug shortages in the US continue to grow. |
| 0:28.0 | According to the American Society of Health System Pharmacist |
| 0:32.0 | and University of Utah Drug Information Service, |
| 0:35.0 | more than 300 medications are in short supply in Q1 of 2024. |
| 0:40.0 | This is the highest on record since they began tracking the data in 2001. |
| 0:45.0 | The CEO of ASHP says all drug classes are vulnerable to shortages. |
| 0:51.0 | He goes on to say that some of the most worrying shortages |
| 0:54.0 | involve generic sterile injectable medications including chemotherapy drugs |
| 0:58.9 | and emergency medications. He also noted that the ongoing shortages of ADHD therapies remain a serious challenge. |
| 1:07.6 | The shortages are largely caused by supply chain disruptions due to natural disasters and manufacturing quality issues, as well as high demand, like in the case of the popular diabetes and weight loss drugs, GLP1s. |
| 1:22.0 | Price competition also forces generic drug makers to shift manufacturing |
| 1:26.5 | capacity to more profitable drugs from low margin ones in case of inequality or supply issues. |
| 1:34.0 | No robots will not take away jobs. |
| 1:37.0 | That's the word from an executive at Amazon. |
| 1:40.0 | He insisted that instead innovation helps his employees. |
| 1:44.4 | Amazon's director of global robotics, mechatronics, and sustainable packaging told |
... |
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