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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