Novartis Beats Profit Forecasts After Jacking Up Prices On Dozens Of Drugs Big Pharma company Novartis announced higher than expected earnings today – beating forecasts and upping its projected profits for the year. How did the Swiss drug manufacturer make that happen? By price-gouging American patients. Reports in December 2018 indicated Novartis planned to raise […]
New Report Finds Drug Makers Spent Whopping $6.46 Billion On Advertising In 2018 Big Pharma frequently claims high drug prices are necessary to fund research and development (R&D) for new cures. A new report from Kantar Media underscores what we already know – that Big Pharma’s R&D excuse holds little water and that rising prices […]
Big Pharma has tried to evade culpability for the crisis of rising prescription drug prices by pointing a finger at pharmacy benefit managers (PBMs). As the U.S. Senate Committee on Finance prepares to hear from the executives of five PBMs on April 9, it’s time to debunk Big Pharma’s bluffs. PBMs serve an essential role […]
In case you missed it, the Centers for Medicare and Medicaid Services (CMS) released new data last week which showed that prescription drugs with only one manufacturer are responsible for the biggest spending increases in both Medicare and Medicaid. According to the data, overall spending on prescription drugs under Medicare Part D increased at an […]
The Creating and Restoring Equal Access to Equivalent Samples (CREATES) Act and the Fair Access for Safe and Timely (FAST) Generics Act are being discussed in a legislative hearing today before the U.S. House Energy & Commerce Subcommittee on Health. The solutions contained in these market-based measures represent critical steps toward lowering prescription drug prices […]
Lowering prescription drug prices is a laudable focus of the Trump Administration, and the Campaign for Sustainable Rx Pricing (CSRxP) supports several measures put forward by the administration, including getting more generics and biosimilars into the market to spur competition, increasing drug price transparency and cracking down on anti-competitive practices from big pharmaceutical manufacturers. But […]
Three More Congressional Hearings Tackle Big Pharma’s Anti-Competitive Practices This week, the U.S. Senate Special Committee on Aging, U.S. House Ways & Means Subcommittee on Health and U.S. House Judiciary Subcommittee on Antitrust kept up the pace of activity on prescription drug pricing with a series of hearings on the issue. Members of Congress […]
During today’s House Judiciary Subcommittee on Anti-trust hearing on healthcare consolidations – Members of Congress recognized Big Pharma’s continued role in price gouging American patient through patent abuse schemes to hinder generic competition and maintain monopolies over their biggest money makers. Importantly, key members of the committee used the hearing as an opportunity to tout the benefits […]
Big Pharma is able to price gouge patients and avoid accountability. For decades, drug makers have gamed the patent system to block out competition and protect their profits – maintaining monopolies and driving up prices without making improvements to the medications patients need most. Take a look: Of the 100 best selling drugs, […]
Testimony from Seven Drug Makers Showcases Continued Unwillingness to Take Responsibility, Become Part of the Solution On Tuesday, executives from seven of the biggest pharmaceutical companies in the world – including AbbVie, Bristol Myers Squibb, Johnson & Johnson, Pfizer, Sanofi, AstraZeneca and Merck – testified before the Senate Committee on Finance on the crisis of […]