REAL STORIES: Americans Struggle With Rising Drug Costs As Pharma Companies Make Record Profits
October 2, 2018
Trump said he would stand up to the pharmaceutical industry and bring down the cost of prescription drugs. Instead, pharmaceutical companies continue to make record profits while Americans across the country struggle to get the life-saving care they need.
Drug companies’ stocks are on track to have their best quarter in five years after soaring to an all-time high last week.
CNBC: “The S&P 500 health-care sector has been on a tear in recent months, on track for its best quarter in five years and surging to an all-time high on Friday. Names such as Eli Lilly, Biogen and Pfizer are among the biggest winners in the last three months, with double-digit gains.”
Meanwhile, Americans continue to struggle to get the life-saving care they need due to rising prescription drug costs.
AARP: “In 2017, retail prices for 267 brand name prescription drugs widely used by older adults increased by an average of 8.4 percent. In contrast, the general inflation rate was 2.1 percent over the same period.”
“80 percent of people want the government to do something; 40 percent say they’re worried that they can’t afford their medicines. We see young people dying because they can’t afford insulin now.” – Kaiser Health News’ Elisabeth Rosenthal
“So many people are dying because they just can’t afford their insulin.” – New York parent of a daughter with diabetes
“It’s $1,300 a month for me and there’s people who can’t buy it. So there’s people who are like rationing and they’re cutting their life short, whether it be right now or be it years down the road. So this is a very, very critical fight that needs to happen right now.” – Indiana resident with diabetes