The pharmaceutical industry has become a major health hazard to the American people.
Our nation pays - by far - the highest prices in the world for prescription drugs. As a result of these outrageous prices, nearly one in five Americans cannot afford to fill their prescriptions. Meanwhile, the five largest prescription drug companies made a combined $50 billion in profits last year. That is unacceptable. A lifesaving product does no one any good if a patient cannot buy the medicine they need, and that is now happening far too often in the richest nation in the world.
A new report out today from Americans for Tax Fairness explains how a pharmaceutical company, Gilead Sciences, games the system to charge high prices, shift profits offshore and avoid billions in U.S. taxes.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
5 comments:
Not nearly as mad at these guys as i am the insurance companies.
Now they can tell you and your doctor which medications you can or cannot take , and the dosage.
If you don't like it they just tell you you can have what is prescribed if you want to pay full price for it.
So don't just blame the pharmaceutical companies for higher cost.
you need competition. Look at colorodo and all the pot shops. Pot is now cheaper there and more potent because of competition.
this story is a great example of why the "free market" which Adam Smith actually cautioned against if you actually read the Wealth of nations, will rob and rape the public every time....
The problem is.. the government is involved. But not properly.
If this was developed with government funding, the patent should not be transferred to a private individual and sold.
Why was it?
Secondly.. when the government gets involved in paying for the drugs, the price always skyrockets, because they know they can get away with charging more.
Thirdly.. when the government tells insurers that they HAVE to cover things, the price skyrockets, because they know they can get away with charging more.
Fourth.. just prior to Obamacare being jammed up our ____, the WH called a meeting of the major pharmaceutical companies. What do you suppose they were told?
I think I know. "You back this legislation, then we will look the other way while you 'recover your costs'".
Tell me I'm wrong.
Go toCanada pharmacy.com buy your meds. There. Screw American pharmacies!
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