Public anger over pharma price gouging is running high…………”More than one-third of the list price of a medicine is rebated back to middlemen, like insurers and pharmacy benefit managers.”
Pharma’s Strategy In Dealing With Anger Over High Prices: Point Fingers At Someone Else
News outlets report on stories related to pharmaceutical pricing.
The Washington Post: Pharma, Under Attack For Drug Prices, Started An Industry War
It’s not easy to get Americans mad at a behind-the-scenes industry they’ve barely even heard of, but pharmaceutical companies have spent most of this year trying. “Who decides what you pay for your medicines? Not who you might think,” a concerned woman’s voice says in a radio spot airing in the District last month. “More than one-third of the list price of a medicine is rebated back to middlemen, like insurers and pharmacy benefit managers.” (Johnson, 1/2)
The New York Times: Think You’re Seeing More Drug Ads On TV? You Are, And Here’s Why
Swelling of legs, hands and feet; capillary leak syndrome; fever; muscle pain; unusual bruising; dizziness, blurry vision; rash; hives; blisters; nervous system and blood disorders; lymphoma; swollen tongue; dry mouth; weight gain; inability to fight infections; nausea, diarrhea; constipation; depression; dehydration; suicidal thoughts. Oh, and death. (Kaufman, 12/24)
Modern Healthcare: Drug Prices Rise As Pharma Profit Soars
The amount of money people spend on prescription drugs has nearly doubled over the past three decades as pharmaceutical sales and profit margins have ballooned, according to a government report. Retail prescription drug expenses accounted for about 12% of total U.S. healthcare spending in 2015, up from about 7% through the 1990s. Pharmaceutical and biotechnology sales revenue increased from $534 billion to $775 billion between 2006 and 2015, according to a recent report from the U.S. Government Accountability Office. About two-thirds of drug companies saw their profit margins increase over that period, averaging 17.1%. (Kacik, 12/28)
