With prescription drug prices soaring in the US, there has been growing bipartisan and public anger over the tricks and shady deals of Big Pharma companies. Recently, the CEOs of several U.S. drug makers testified before a senate hearing - but made the same excuses they'd made before.

Here in America, prescription drug prices are as out of control as Beto’s youth pastor vibes.
It’s probably the only thing in america right now that everyone agrees with.

“We pay the highest prices in the world for prescription drugs - the drug companies are ripping us off every single day.”
“The rising cost for prescription drugs, and outcry to do something about it.” “The number one issue for so many people - the high cost of these prescription drugs.”

A recent study by the Public Policy Institute found prices have more than tripled since 2006.
Another study found the cost of insulin has doubled in just four years.
Talk about 0-100 – the only thing i’ve seen go up as fast is R Kelly’s temper.
I probably need to stop watching so much E News.
Now, politicians have finally decided enough is enough (well, some have) – and brought all the big drug companies to congress to please explain.
And surprise, surprise – the drug companies lied!
Crazy.
Here’s my fact check of the biggest fibs told big drug companies – and why they’re just… wrong.

LIE #1: THE COSTS TO MAKE DRUGS HAVE GONE UP

True, costs for everything generally go up. Yep, I’ve heard of inflation.
But the cost to buy the drugs has gone up way more than the cost to make the drugs.
If costs have gone up so much, how come the costs haven’t gone up as much overseas?
Just look at this graph, which shows the cost of insulin across different countries.
In 2016, America’s top 10 drugmakers made a 27% profit margin.
Is that a… good profit margin?
Well, the average profit of the S&P 500 was 11%.
So Big Pharma is making twice as much profit as other big companies.
So yep, they’re making a f-ckload of coin.


LIE #2: AMERICA ISN’T THAT EXPENSIVE, COMPARED TO OTHER COUNTRIES, CAUSE WE’VE GOT DISCOUNTS AND STUFF.


Why must you fill the room with LIES!?
In Europe, where they have a single payer system, like most of the developed world – the government uses the buying power of all its citizens to get the best price.
Europe is like, “Yeah G’Day Pfizer, we want to buy your drug, and we’ll buy enough for our 739 million people if you give us a sweet deal.” That’s why costs for drugs in Europe usually go down over time as they demand better mates rates.

But in America, each individual insurance company does the negotiating, so they get no mates rates for those piddly a-s requests.

Which is why, even if you have health insurance, you still get stitched up.

And of course if you have no health insurance, then you’re up sh-t creek in a barbed wire canoe with a rusty teaspoon for a paddle.

Just to show how dumb the US system is: Medicare buys drugs for 55 million people, but it legally can’t negotiate what it pays for prescription drugs.

Yes, drug companies can just name their price.

“ONE HUNDRED BILLION DOLLARS!”

and taxpayers have to pay that.


LIE #3: DEVELOPING NEW DRUGS IS RISKY AND EXPENSIVE, AND MOST DRUGS FAIL – BUT WE MUST FIND CURES! SO GIVE US ALL YOUR MONEY!

Yeah, true: it costs a lot to research drugs. But guess what else is true – a lot of that research is paid for by taxpayers!

Drug companies don’t pay for basic research, the government does!

That’s what all those smart people in white coats do in universities.

Usually, drug companies only buy-up when a new drug is ready for clinical trial, and it looks like they could make money.

In fact, most drugs are developed by small companies who are then, surprise – purchased by big companies who then hike up the price!

Yeah, G’Day Pfizer, I’m looking at you.

LIE #4: THIS WHOLE SENATE HEARING ISN’T JUST A GIANT CHARADE (TO CONVINCE THE PUBLIC WE ARE “DOING SOMETHING”)

Yeah, I call bullsh-t on that. Look, every senator has know drug prices have been going up. This has been raising Bernie Sanders blood pressure since the Beatles were banging on about a chick named Jude.

Lawmakers haven’t done sh-t because the pharmaceutical industry is among Congress’ most generous fairy godmothers, and not just to Republicans! Last election, New Jersey Democrat Sen. Robert Menendez, who just happens to share the same home state as Johnson & Johnson and Merck, received more than $150,000 from drugmakers.

Sources: https://bit.ly/2TwgO1q

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