By Lauren Aronson
The American people are demanding that Congress hold Big Pharma accountable and the momentum to lower prescription drug prices has never been greater.
For years we’ve seen outrageous examples of price-gouging.
- The price of a drug that treats opioid overdose increased by more than 550 percent in three years – at the height of the opioid crisis.
- The price of one leading painkiller was 22 times more expensive in 2018 than it was in 2013.
- The price for a drug that treats a rare infant seizure disorder has risen from $40 a vial in 2000 to nearly $39,000 today.
These price spikes have real consequences on real people. Every day we see heart-wrenching examples of the consequences of out-of-control drug prices — patients forced to empty savings accounts, travel out of the countryin search of cheaper prescriptions and skipping or rationing dosages. This puts not only their financial health, but their physical health in jeopardy.
Big Pharma’s response to this crisis of their own creation is more of the same. In just the first six months of 2019, Big Pharma companies hiked the price of more than 1,200 brand-name prescription drugs. In 2018, for every price reduction, there were 96 price increases.