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Friday, July 22nd, 2022

Big Pharma Has Raised Drug Prices 1,186 Times This Year, Analysis Shows

Author:     Jake Johnson
Source:     Common Dreams
Publication Date:     July 20, 2022
 Link: Big Pharma Has Raised Drug Prices 1,186 Times This Year, Analysis Shows
Stephan:   Because of the corruption that plagues the U.S. Congress, particularly the Republican Party, a corruption specifically designed to suck wealth out of the American population to the benefit of the corporations who rent the Congressional whores who pass the carefully crafted laws pharmaceuticals in the U.S. are orders of magnitude more costly than any other developed nation. It is an obscenity that will never get fixed until the Democrats have large enough majorities in the House and Senate to pass bills no matter how Republicans vote.
Demonstrators protest pharmaceutical companies’ lobbying against drug price reforms in Washington, D.C. on September 21, 2021. Credit: Saul Loeb / AFP / Getty

The U.S. pharmaceutical industry exercised its virtually unlimited pricing power to hike costs for patients again this month as Senate Democrats made progress toward a limited deal to regulate out-of-control prescription drug prices, which are forcing millions of people to ration their medication or go without it entirely.

A new analysis released Wednesday by Patients for Affordable Drugs estimates that pharmaceutical companies in the U.S. have raised drug prices 1,186 times so far this year, further padding their bottom lines while intensifying the already overwhelming cost burden for patients.

“Big Pharma continues to raise drug prices with no regard for the health and financial well-being of Americans.”

Patients for Affordable Drugs found that between June 24 and July 5, pharmaceutical companies increased prices for 133 products. Pfizer, for instance, hiked the cost of its leukemia medication Besponsa again this month, bringing its per-vial price tag to $21,056.

“This is Pfizer’s fourth hike on the cancer drug during the Covid-19 pandemic—even as the […]

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