Big Pharma Has Raised The Prices Of 3,400 Drugs So Far This Year

Big Pharma Has Raised The Prices Of 3,400 Drugs So Far This Year

Big Pharma Has Raised The Prices Of 3,400 Drugs So Far This Year

By Bryan Wright 47 Comments July 14, 2019



According to a new report, more than 3,400
prescription drugs in the United States have seen their prices increase in just the first
half of this year. Most of these price increases were I guess by comparison, which you would
consider moderate, usually just a little over 10% but unfortunately that 10% price increase
from most of these drugs is more than four times the rate of inflation, which means that
these prices were not raised just to keep pace with inflation. They were raised because
pharmaceutical companies can, and that is the simplest answer and that is in fact the
answer that you will get from pharmaceutical companies as to why they raise their prices.
But here's the real shocking part of this story. We knew drug companies were going to
raise prices. They were going to do it last year, but believe it or not, Donald Trump
tweeted at them, you better not do it. And guess what? They didn't do it. They just
made an announcement that they were going to postpone the price increases until January
1st, 2019 and they didn't waste any time once the year started. 3,400 drugs already have
seen the prices go up so far this year, which is a a 17% increase from last year in the
number of drugs who saw their prices increase. But 40 of those 3,400 have seen their prices
increased by triple digits. For example, according to ars technica, we had a generic version
of Prozac, a generic version of Prozac supposed to be the cheap stuff, right? That price increased
by 879%. Then you had a topical steroid, a mometasone saw a price increase of 381% basically
a steroid cream, 381% a pain reliever, cough medication, which is, uh, promethazine and
coding saw their price increased by 326% and an ADHD treatment, a Guar Guanfacine two milligrams,
the price of that increased by 118%. Now when I said that the drug companies do
this, just because they can, I mean that, and when I said that they have said that I
meant that as well. Mike Papantonio has taken the depositions pretty much all of the major
pharmaceutical companies you could imagine. And at one point he was doing depositions
in the Netherlands of drug companies, CEO's over there for drug they sell here in the
United States, kind of based out of the, uh, Europe over there, and he asked just out of
curiosity, as part of this deposition, which was videoed, unfortunately, I can't show you
the video, but he asked, just out of curiosity, why, why are you charging X amount over here
in the Netherlands, but you charge, you know, hundreds of more percent over there in the
United States and the executive responded because we can.
That was their answer because we can, a loyal viewers of ring of fire understand that. We
have told that story many times in the past. Mike himself has told it and he tells it much
better than I do, but the point is they do it because they can and it's not going to
stop. They are going to continue to squeeze us, continue to raise these prices until some
kind of policy comes along that prevents it from happening. We cannot scare them into
changing their ways. We cannot even shame them into changing their ways. The only way
this changes is through law, and I'm not even talking about Medicare or Medicaid negotiating
prices. There should be no negotiation. There should be a flat blanket percentage of markup
and that's it. You can't charge a dime over that. Maybe it's 10% maybe it's even a hundred
percent because some of these pills only costs, you know, a few pennies to produce.
We, the tax payers are already funding most of the research and development. So that argument
is bull crap that, oh, we gotta repay ourselves. You want to repay the research and development,
then you need to be cutting checks to the federal government, or even better start cutting
checks to the individual American taxpayers out there who actually paying for it. But
the point is we have to have blanket price controls on these pharmaceuticals. Negotiations
are not going to work. They might lower it, but it's not gonna be enough. Price control
is the only possible solution to this industry that is completely run a muck and has been
overtaken by greed.

47 Comments found

User

Zotot Zotot

Fuck everyone and everything. The only thing that matters is the wealthy getting wealthier, amirite?

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User

katie elder

Oh what a surprise they are hiding the cure for cancer

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User

C P

Most of the food at the grocery store went up Stock holders want a return, New drug development requires money, people want to have life saving drugs which cost, orphan drug research is super expensive, We pay for other countries cheap drugs It all adds up

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User

Gilbert Bedolla

Entresto heart med just went up $300.00 to $1890.00 for 3 months supply. Eliquist $410.00 a month. From what I've heard, this meds are half price in Europe, Mexico, Canada.

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User

Paul Acosta

The only way things will ever change is with a 2nd Civil War and wipe these evil motherfuckers from the Earth!!!

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User

Bmanritchie

Twitter (paraphrased):

Trump: For the first time in 51 years, drug prices have finally gone down under my—

Sanders: YOU FUCKING LIAR! And here’s the article to delivery the piledriver you deserve!!

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User

MrZoeman1980

Just heel yourself with diet exercise and life style, and diet. Real food. Big pharma never gets my money and never will, I find better uses for my money.

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User

robert harker

Greed knows no bounds just share holders profits

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User

cecil woodall

The law needs to be backed up by swat team raids on pharmacy main shareholders with penalties of life without parole in maximum prison

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User

Mark Lamb

GREED!

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User

nini nono

Tfw developing countries has better drug laws and cheaper medicines than "the best country in the world"

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the village idiot

The law lmao in murika 🤣🤣🤣🤣 working for the tax payers 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

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User

the village idiot

Know your roll peasants!! Pay up !! Billionaires wanna be trillionaires..

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User

Terri Suder

INSULIN NEEDS TO BE LOWERED NOW!!

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User

Lesley Smith

I am sure none of them have stood at a pharmacy counter nearly in tears trying to figure out which meds you absolutely have to have because of the amount you have to pay. Or figuring out which meds you can miss for 1-3 days as you don't have enough money for the copays. I am incredibly lucky I have a fantastic pharmacy who helps me. When you are looking at a copay of $813 for one med. Luckily they remembered that the company does a low copy if you contact the makers of the drug.

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User

bikkiikun

As the US or state government own most of the patents involved, they can easily dictate prices (and threaten to withdraw licences). If it is live-saving drugs the government also could prosecute price gouging as attempted murder or manslaughter / murder if actually somebody dies because they can't afford the medication. The culprit is by default the CEO (he bears the ultimate responsibility), unless he has proof, that the owner(s) did it, in which case the noose is on their necks
.
Among rich folks a realistic prospect of moving to deathrow or a life of tossing salad is an actual deterrent.

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User

John Starace

I’m a diabetic, the price of insulin has increased 8 fold in the last few years, it’s impossible to afford without insurance, even with insurance I’m in the donut hole after 2 months and even with insurance I can’t afford it, it’s ridiculous.

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User

Tlot Pwist

This is why Drumpf talked about lowering drug prices: he's gonna lower the prices of drugs that already skyrocketed, for cheap voting points, but the drugs will remain more expensive than they were

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User

Matt Erbst

My meds went from $11 to $26 each month!

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User

Some One

Trumps polls are up, which (supposedly) say that almost 50% approve of him. Say what!?
We've all heard trump say many, many times that ALL polls are fake, so it means nothing!

I've never been polled, nor known anyone who's taken part in a poll in my life, so where do they get these fake numbers!?

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User

Máire Walton

This is Trump the business-man, and you wonder why he went bankrupt? Now it’s the people’s turn…… pay or die!

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User

Lauranicole84

I wish so badly I could wake up tomorrow morning and say 'it was only a nightmare' and not get screwed over by these greedy pharmaceutical companies, make an appointment with a doctor and not worry about medical bills. Everything is a nightmare here in the United States. For rich people, life is just dandy.

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User

just me

If employees want to make more money why shouldn't companies!

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User

Renée duComyn

The executives at drug companies should all be hunted down, skinned alive, and left to die.

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User

Satria Kurniawan Djaenal

Rampant, unchecked capitalism at its finest.

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User

James Mines

Big Pharma: God bless America.

American suffering ailment: what about me?

Big Pharma: pfffft! 🤣 Fuck you!

Thank you so much medical industry that care for all our well being!😒

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User

Anti War

Watch Rockefellers, FDA & Cancer Society video here on utube….evil mongrels.

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User

Charllee Dodson

Big Pharma doesn’t care about people’s lives because caring doesn’t help their bottom line.

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User

eZorro

Yet, many Trump supporters will vote for him again against their own self interests.

Big Pharma is big theft. Vote for Bernie 2020!

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User

Ray Herbst

This is beyond the pale.

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User

Q

It's called capitalism and free market.
It's a system that's doomed to fail.

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User

Let’s grow

Trump supporters think the prices are lower because trump said so.

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User

Hope Peace

I was need 2 inhaler for my 2 daughters and I can’t afford 1 😐 .

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User

carne verde

Changing patent policy to address the monopoly the pharmaceutical corps hold on the drug market is necessary, but only a Single Payer/Single Buyer system will create a monopsony single entity representing the customers will force big pharma to lower their costs.

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User

Rob Roland

Canada??

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User

clockwork914

🇺🇸 BERNIE 2020 🇺🇸

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User

Nickie McNichols

We have to get off our dependence on chemical drugs. Our Drs are poorly trained, and their patients are too.

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User

Gilmore Mccoy

Trump and cronies are helping big super rich companies get richer. Poor and middle class people are screwed😈💩. Go figure.

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User

wrightterence680

BIG PHARMA is nothing but a bunch of crooks!!!

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User

sparkee666

we should pass a bill, never mind senate filibuster and Republican control. I'm surprised anything gets passed unless it interferes with Pelosi's vacation time.

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User

Keith Wood

I suggest all ways buy the generic if there is one, it should be cheaper & it's just as effective & at least it hurts the big pharma a little bit…

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User

Donna M

Right, the Democrats are really doing something to stop it.
Get the bottom feeder swamp creatures out on both sides.
The only decent people in Congress are the PROGRESSIVES.
🇺🇸❤VOTE PROGRESSIVE BLUE AND GET THE SCUM OUT OF CONGRESS❤🇺🇸

🇺🇸❤SANDERS 2020/#46❤🇺🇸

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SkyGemini

Well of course they did. tRump's administration has an "anything goes" attitude. They've dropped regulations and protections while dismantling rights and stacking the courts to back up their unconstitutional agenda. No doubt half of them are getting kick backs, just like John Kelly's sharing the $775/day per migrant incarceration. People asking for asylum get locked up in a clear human rights violation. Sick. Go watch how you force a government to capitulate over in Hong Kong. Those people have been protesting for weeks. The US seems to not really care what's happening other than complaining on YouTube. Ineffective.

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Eugene Walker

Capitalism is destroying country. The reason why this country is bought and paid for are elected officials and the biggest group that is on the take the most the Republicans. Both parties are worthless assholes in this independent eyes are the republicans criminals.

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User

himynameisrev

I’m a lurker, never a poster here. I work in pharmaceuticals, at least enough to know stats like this. In house numbers are that over 5000 drugs have gone up. More like 5600.

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Gustav Gnöttgen

I don't know if the german market is directly affected by this, by my daily candy drops also got more expensive…

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User

Cathy Vanmeter

Any way they can stick it to you

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