Ten companies controlled half of the health care industry’s $50 billion of global profits 9 of those 10 companies at the top are pharma firms

  • Americans spend a lot more money on hospital and physician care than prescription drugs, but pharmaceutical companies pocket a lot more of than other parts of the industry. (Source: Axios)
  • 63% of the profit total went to drug companies, even though they collected 23% of the revenue
  • Pfizer had the highest profit total ($4.1 billion) of any publicly traded health care company in the third quarter.
  • Of the 19 companies that tallied at least $1 billion of third-quarter profit, 14 were drug companies.

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Change is going to be forced on big pharma

  • Republicans have indicated that they are willing to work with democrats on drug pricing initiatives.
  • Drug companies are focusing lobbying efforts to use a possible lame-duck session of Congress to peel back a legislative loss they suffered earlier this year.
  • Pharma is making a lobbying push to roll back seniors’ drug discounts at a time when they are reporting near record profits.
  • So far in 2018, PhRMA spent more than $20 million, according to the Center for Responsive Politics, and was the third-largest spender.

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Today healthcare is on the ballot but pharma isn’t listening

  • 62 percent of cancer patients report being in debt due to their treatment.
    55 percent accrue at least $10,000 in debt, while 3 percent file for bankruptcy.
  • Almost 700,000 people in the U.S. declare bankruptcy due medical bills.
  • American’s are sick and tired of a healthcare system that costs too much and provides too little.

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Pharma at war with Azar?

  • After reporting a 45% increase in quarterly profit Pfizer said “it’s business as normal”.
  • Drug companies have made clear that they’ll never voluntarily reduce prices.
  • The pharma industry has spent more than $216 million on lobbying this year.
  • “Telling companies to voluntarily lower their prices and expecting it to happen on a consistent basis is not a realistic long-term policy proposition,” said Anthony T. LoSasso, a professor of health policy and administration at the University of Illinois at Chicago.

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Health care is still eating the economy

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AbbVie is a great example of why the government is attacking pharma

  • A Humira prescription costs $38,000 a year.  In 2012, the drug cost about $19,000 a year.
  • An analysis released last month by my organization, the Initiative for Medicines, Access & Knowledge, shows that there have been an astonishing 247 patents filed on Humira.
  • There are an average of 125 patent applications filed and 71 patents granted for each of the 12 highest-grossing drugs in America.
  • 247 patent applications have been filed on Humira in the U.S. with the aim of delaying competition for 39 years.
  • In 2016 the $3.3 billion spent on the drug by Medicare and Medicaid accounted for 31 cents of every dollar spent on Humira in the U.S.

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This administration doesn’t understand the US healthcare market

  • American consumers regularly pay two to six times more for the same drugs as people abroad, but the United States spends some of the lowest amounts of its total healthcare on prescription drugs relative to other developed nations.
  • By law, Medicare cannot engage in pharmaceutical negotiations for prices.
  • PhRMA cites that on average, it takes more than 10 years and $2.6 billion dollars to bring a drug to market but these costs may be overstated.
  • This administration doesn’t understand how our healthcare system really works.

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