Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) issued the following statement in response to a report that 30 pharmaceutical companies are expected to increase drug prices next month, which follows Pfizer’s earlier announcement it would revert back to “business as normal”:
“This news shouldn’t come as a shock to anyone. Big Pharma has blinders on and the only thing they can see in front of them is dollar signs. They’re not thinking about the millions of patients who cannot afford their medications. They’re thinking about their own bottom line.
“When 9 out of the 10 of the biggest drug companies are spending 50 percent more on advertising existing drugs than researching and developing new ones, and when the industry is on track to spend more on lobbying than ever before, these price hikes are not to advance science or improve health, as Big Pharma likes to say. They’re about making money on the backs of patients who rely on these medications.
“President Trump and bipartisan leaders in the House and Senate have taken important steps to shut down Big Pharma’s price gouging. We look forward to working with the Administration and Congress to build off this momentum through aggressive oversight and market-based solutions that will boost competition, strengthen transparency and make drugs more affordable for all Americans.”