America's pharmaceutical giants are suing this summer to block the federal government's first effort at drug price regulation.
Those provisions alone could reduce the federal deficit by $237 billion over 10 years, the Congressional Budget Office has calculated. That enormous savings would come from tamping down drug prices, which are costing an average of 3.44 times — sometimes 10 times — what the same brand-name drugs cost in other developed countries, where governments already negotiate prices.
AZT, the first drug to successfully treat HIV/AIDS, was labeled"the most expensive drug in history" in the late 1980s. Its $8,000-a-year cost was derided as"inhuman" in a New York Times op-ed. Now, scores of drugs, many with much less benefit, cost more than $50,000 a year. Ten drugs, mostly used to treat rare diseases, cost over $700,000 annually.
Here are just a few of the many examples of drug pricing practices that have driven consumers to demand change. Related StoriesOr take Revlimid, a drug by Celgene , which treats multiple myeloma. It won FDA approval to treat that previously deadly disease in 2006 at about $4,500 a month; today it retails at triple that. Why? The company's CEO explained price hikes were simply a"legitimate opportunity" to improve financial"performance."
During those three years, Par wrapped its branded product, Vasostrict, used to maintain blood pressure in critically ill patients, with patents — including one on the compound's pH level — extending its monopoly eight additional years. Par raised the price by 5,400% between 2010 and 2020. When the covid-19 pandemic filled intensive care units with severely ill patients, that hike cost Americans $600 million to $900 million in the first year.
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
What the Inflation Reduction Act has achieved in its first yearBig investments in green energy and health care have gone unnoticed by most Americans
Læs mere »
What the Inflation Reduction Act has achieved in the year since its passageBig investments in green energy and health care have gone unnoticed by most Americans
Læs mere »
Motorsport.tv guide: What's on 19-20 August weekend?Get ready for an action-packed motorsport weekend that will keep enthusiasts on the edge of their seats! In Japan, the Super Formula series roars to life at Motegi, with qualifying and the race exclusively available live on Motorsport.tv. Meanwhile, the Road America circuit in the United States will become a battleground for GT racing enthusiasts, with the GT World Challenge America, GT America, GT4 America, and TC America races all set to deliver a dose of adrenaline-pumping action. Not to mention GT World Challenge Asia live from Okayama, Baltic touring cars live from Parnu, and the ultra-competitive Porsche Carrera Cup Germany single-marque series live from the Lausitzring. This weekend's events have something for everyone, all live on Motorsport.tv.
Læs mere »