PhRMA defines the word “chutzpah”

  • Pharmaceutical and biotechnology sales revenue increased from $534 billion to $775 billion between 2006 and 2015. Additionally, 67% of drug companies increased their annual profit margins during the same period—with margins up to 20 percent for some companies in certain years. (Source: GAO)
  • Pharmaceutical companies continue to rake in the highest profit margins.
  • Eight of the 15 highest net profit margins were at drug companies.
  • Yet PhRMA has launched a social media campaign to point the finger at hospitals.

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Half of all deaths from cancer are associated with preventable risk factors

  • In the United States, 4 out of 10 cancer cases and almost half of all deaths from cancer are associated with preventable risk factors.
  • Nearly 20 percent of U.S. cancer diagnoses are related to excess body weight, alcohol intake, poor diet, and physical inactivity.
  • Many cases of skin cancer could be prevented by protecting the skin from ultraviolet radiation from the sun and indoor tanning devices. (Source: AACR Cancer Report 2018)

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Healthcare is on the ballot in November

  • Health care continues to be one of the top issues that voters want to hear candidates talk about during their 2018 congressional campaigns.
  • One-fourth of voters say health care is the “most important issue” for 2018 candidates to discuss during their campaigns.
  • While most have seen or heard advertisements for prescription drugs, about one in seven say they have talked to their doctor as a result of seeing an advertisement for a prescription drug.

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Frustrated with insurers, some large companies getting into their own healthcare

  • Employers have held growth in the average per-employee cost of health benefits to about 3% annually.
  • Comcast health care costs are increasing by about 1 percent a year, well below the 3 percent average of other large employers and below general inflation.
  • Their model is based on providing employees support and assistance in making the right health care decisions for themselves and their families.
  • Other employers are focusing more attention on unsatisfying hospitals and doctors.
  • Employers, including that Amazon-Berkshire-JPMorgan alliance, are increasingly unhappy with the nation’s health care systems.

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PhRMA winning the PR war on drug pricing

  • The amount of money people spend on prescription drugs has nearly doubled since the 1990s.
  • According to the GAO “pharmaceutical and biotechnology sales revenue increased from $534 billion to $775 billion between 2006 and 2015. Additionally, 67% of drug companies increased their annual profit margins during the same period—with margins up to 20 percent for some companies in certain years”.
  • Pharmaceutical companies have some of the highest profit margins in the world, a distinction that has earned the industry criticism from both politicians and consumers, who often complain about the high prices of prescription drugs
  • PhRMA launched a PR campaign to blame PBM’s for high drug prices and it seems to be working.

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The over complicated process of drug pricing

  • Black-box negotiation processes” between drugmakers, insurers and the middlemen who haggle behind closed doors over how much money changes hands are hidden from patients.
  • Drug companies set the list price of drugs at insanely high levels solely to ensure the highest possible payment by insurers once all the haggling is complete.
  • There are markups along the supply chain by wholesalers and retailers, which want as big a piece of the profits.

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Generic drug prices are spiking

  • Forty-five states and the Department of Justice are claiming that generic-drug prices are fixed and the alleged collusion may have cost U.S. business and consumers more than $1 billion.
  • The prices of some generic drugs, such as captopril (Capoten) and pyrimethamine (Daraprim), have risen substantially in recent years.
  • Pharma companies have raised the prices of 43 generic drugs by at least 10% so far in the first half of 2018.
  • Prior to going generic, many brand-name drugs see large increases in their cash price, with prices rising by as much as 50%.

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