- 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.
Business as normal — three words that mean drug companies don’t care what you think of their behavior. Pfizer’s CEO fired the first shots this week with the Trump administration directly in the center of their target.
Let’s put this in context. More than half of Americans (54 percent) have delayed medical care for themselves in the past 12 months because they could not afford it. In addition:
- 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.
- Cancer costs exceed $80 billion in America each year.