- 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.
KEY TAKEAWAY: After raising prices on all its drugs in 2017 Pfizer has given their CEO a total 2017 compensation that spiked up 61% to $27.9 million. At the same time Allergan rewarded its CEO Brent Saunders with a $32.8 million pay package—an eightfold increase over 2016. Despite PhRMA’s social media blast about the root cause of drug prices the media have pharma in their sites once again. Continue reading
KEY TAKEAWAY: The idiocy of raising a price on a prescription medication over 5000% and the current series of articles on J&J’s marketing of Risperdal is enough to turn even supporters to haters of big pharma. Continue reading