The Biden administration said it would penalize drugmakers for raising prices faster than inflation on 27 medications administered in doctors’ offices. Pfizer had the most drugs on the list, which includes AbbVie for its blockbuster rheumatoid arthritis drug, Humira, as well as manufacturers Gilead, Endo, Leadiant Biosciences, and Kamada.

The private healthcare industry is enormous, notoriously challenging to navigate, and making a lot of money at the expense of the public. The industry enjoys massive profits, often by undermining public programs and exploiting patents, whose ruthless pursuit of money usually has life-threatening consequences. It maybe time to end for-profit healthcare.

The FDA calls drug approval a “balancing act” between acceptable risks and benefits on its website. The FDA’s approval process may favor drug companies over consumers, and FDA approval does not guarantee safety. Big Pharma pays for the majority of drug safety reviews, provides the FDA with safety data for the review and has the option to have drugs approved faster with fewer clinical trials.

U.S. senators called for Medicare to offer broad coverage of Alzheimer’s treatments approved by the Food and Drug Administration, warning that current restrictions cost patients precious time as their disease progresses. They are asking the FDA to approve a drug based on hope, not science.

The pharma model is deteriorating rapidly. The public demands lower drug prices, and insurers deny coverage for more new prescription drugs. To keep money flowing, acquisitions of smaller biotech companies have been increasing, but some biotechs are learning that developing a new drug requires a lot of capital. Why doesn’t pharma prepare for the future?