Pharmaceutical companies and the sub-humans who run them, need an intervention to address their addiction to prescription drug price gouging. Californians should demand that Big Pharma be more transparent about drug pricing habits and put an end to industry practices that benefit drugmakers at the expense of taxpayers.
Pharmaceutical companies deserve a reasonable return for their substantial investments in research and development of drugs. But “reasonable” isn’t enough for them when there’s a potential to gouge consumers for medicines they need to stay alive.
Americans spend nearly $400 billion a year on prescription drugs.The average American now pays more than $850 a year for drugs, compared with $400 per person in most other industrialized nations.
Big Pharma tends to jack up prescription drug prices by about 10 percent a year, without justifying the price increases or giving advance warning of significant hikes.
Given the evidence of capricious price increases, drug companies should have to explain why the price Californians pay for prescription drugs is reasonable.
A little jail time for some of PhRMA’s more feckless CEO’s would be a good idea too.
Read the whole story in the Mercury News