Welcome To The Week In Review.
- New Study: 1 in 5 Ration Insulin
- A new study found that in 2021, almost 1 in 5 U.S adults with diabetes skipped, delayed, or used less of their insulin due to the high price. That is 1.3 million people. As we know, the Inflation Reduction Act will lower insulin costs for nearly 3 million adults on Medicare, which will be life changing. But there is more work to be done so that all people with diabetes can afford their insulin. And the new study shows that Americans with private health insurance and those who are uninsured have the highest rates of insulin rationing. Dr. Adam Gaffney, the study’s lead author, shared with NBC that the problem is that “We have allowed pharmaceutical companies to set the agenda, and that is coming at the cost to our patients.” Big Pharma’s greed is responsible for putting the lives of Americans in completely avoidable danger — we won’t stop fighting to put patients’ health ahead of drug industry profits. — (Annals of Internal Medicine, NBC News)
2. Voters Care About Drug Prices
- The high price of prescription drugs is on the minds of voters, says a new poll released by Gallup and West Health this week. Nearly nine out of 10 Americans report that a candidate’s plan to reduce the cost of prescription drugs is very or somewhat important in determining their vote. This is especially true with seniors, as well as Black and Hispanic voters. And with the midterms around the corner, Democrats are leaning in on prescription drug reforms on the campaign trail, touting the newly passed drug price provisions in the Inflation Reduction Act that will lower drug prices for patients. Reps. Wild, Pappas, and Horsford penned an op-ed in Newsweek explaining that “the provisions related to drug prices and health care are truly historic.” The members highlighted that the drug price provisions are incredibly popular, and that members of Congress trying to repeal the reforms are doing Big Pharma’s bidding. Rep. Katie Porter shared similar sentiments at a recent event: “Allowing Medicare to negotiate drug prices is good for patients, good for families, and good for taxpayers. It is good for us as a country — for Americans who have long been suffering from skyrocketing drug prices, the Inflation Reduction Act delivers solutions.” — (Gallup, The Hill, Newsweek, P4ADNow)
3. Pandemic Profiteering
- This week, Pfizer shared that it plans to charge $110 to $130 for its COVID-19 shot — which is based on taxpayer-funded research — nearly quadrupling the price. The reason for this increase? To meet revenue goals, which come at the price of patients. But clearly Pfizer isn’t hurting for money – in the second quarter of 2022, the company had a 78 percent increase in overall profit compared to the same period in 2021 and is forecasting $32 billion in 2022 sales from its COVID vaccines. “This is daylight robbery,” Julia Kosgei, policy adviser to the People’s Vaccine Alliance, told Common Dreams. “This latest obscene price hike is truly a mask-off moment for one of the great profiteers of this pandemic.” — (Reuters, Endpoints News, Common Dreams)
BONUS WATCH: Check out the new documentary White Coat Rebels, which dives into Big Pharma’s power, the medical profession, and the activists who are fighting back against the status quo. In particular, the film features the powerful stories of two fierce medical students from Universities Allied for Essential Medicines (UAEM), where our very own Merith Basey was previously executive director before joining P4AD!
Have a great weekend, everyone!