We hope drug prices are lowered… for evermore.
Welcome to the Week In Review.
1. Business as Usual
- For nearly a year now, Americans have been dealing with the unyielding spread of COVID-19, with many losing jobs, savings, and health insurance in the process. And yet, pharma has continued to raise prices on over 1,000 critical medications in this year alone, including over 200 price hikes since July. The new administration and Congress must lower drug prices and hold pharma accountable for their exploitative behavior. — (P4AD)
2. A Half Billion To Keep Power
- Last year, the lobby group PhRMA spent over $500 million to maintain the rigged drug pricing system that benefits drug corporations while patients suffer. We don’t have $500 million to counter that spending, but we have something more powerful — the stories of thousands of Americans demanding change and relief from the high drug prices PhRMA members set. — (Center for Responsive Politics)
3. A Vacation Package… to the Pharmacy
- Another byproduct of skyrocketing drug prices: Self-insured companies are finding it is cheaper to fly their employees who take expensive medications to Mexico to purchase their prescriptions, instead of paying for the medications via their health care plans. Do we need any more evidence that our rigged drug pricing system is failing Americans? — (NBC San Diego)
4. We’re Disadvantaging Ourselves
- A new study from the Commonwealth Fund found that 50 percent of lower-income U.S. adults have been unable to access prescription drugs or medical care in the past year due to high costs — that’s compared to 24 percent or less in other wealthy countries. One of the differences between the U.S. and those countries? We don’t allow our government to negotiate with drug companies for lower prices. The evidence is clear — Medicare must be allowed to negotiate. — (Axios)
5. Flooding Our Airwaves
- In November, pharmaceutical corporations beat their record for monthly spending on TV drug advertising, spending a whopping $204 million to promote blockbuster drugs. Big Pharma wants us to believe they cannot lower drug prices, but the truth is clear — drug pricing is all about their bottomline. — (FiercePharma)