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.