ICYMI: GALLUP FINDS NEARLY 58 MILLION AMERICANS UNABLE TO AFFORD THEIR PRESCRIPTION DRUGS, UP FOUR PERCENT FROM JANUARY
Nine in Ten Surveyed Adults Believe Rx Prices “Much Higher” Or “Somewhat Higher” Than Reasonable
A new Gallup survey demonstrates the rising toll of out-of-control prescription drug prices on American patients and families. According to the survey, nearly 23 percent of Americans, approaching 58 million U.S. adults, say they have been unable to afford drugs they were prescribed in the past 12 months. And the crisis of affordability is getting worse. The number of Americans who reported struggling to afford their medications rose four percent since January of this year.
The Gallup study also found:
- Nine in Ten: Close to nine in 10 U.S. adults believe the current cost of prescription drugs is “much higher” or “somewhat higher” than what consumers should be paying. This perception was consistent across political and demographic groups.
- 34 Million: Gallup found 13 percent of Americans, nearly 34 million people, report knowing of at least one friend or family member in the past five years who has died after not receiving needed medical treatment because they were unable to pay for it.
The evidence continues to grow that the current status quo is unsustainable for American patients and families as the brand name pharmaceutical industry continues to price-gouge Americans:
- 10.5 Percent: In the first half of this year, drug prices rose by 10.5 percent, a pace four times the rate of inflation.
- $5.1 Billion: In 2017 and 2018, brand name drug makers raised the price of seven of the most widely prescribed drugs in the country with no evidence that the drugs had been improved – accounting for an additional $5.1 billion burden on patients, taxpayers and health plans.
- 20 of 25: From 2016 to 2017, Big Pharma hiked the price of 20 of the top 25 Medicare Part D drugs between three to nine times the rate of inflation.
In order to deliver relief for American patients, it is critical that Congress act to hold Big Pharma accountable with market-based solutions to increase competition, boost transparency and lower drug prices.
Learn more about measures with significant bipartisan momentum in Congress HERE.
The full Gallup survey can be found HERE.