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IPFS News Link • Big Pharma

Big Pharma's 'Rampant Corporate Lawlessness' Cost Americans $40 Billion In 2019

• Technocracy.News

Big Pharma is being scrutinized by progressives and conservatives. In this case, CommonDreams calls it "rampant corporate lawlessness" and demonstrates how Americans are being mercilessly gouged. Big Pharma has erected defenses at every level of government that make it virtually impossible to apply anti-trust laws to stop the predatory behavior.? TN Editor

The U.S. pharmaceutical industry's aggressive and often unlawful efforts to prevent competition and keep drug prices elevated cost American patients, insurers, and federal health programs more than $40 billion in 2019 alone, according to a report released Tuesday.

The new report—put out by the American Economic Liberties Project and the Initiative for Medicines, Access, and Knowledge (I-MAK)—focuses specifically on pharmaceutical companies' antitrust law violations, which the groups say are a key reason why U.S. drug prices are astonishingly high compared to those of other rich nations.

Examining the 100 top-selling drug products in Medicare Part D—which covers prescription medicines—and Medicaid, the report estimates that Big Pharma's antitrust violations "increased Part D gross spending by 14.15%, or $14.82 billion, and increased Medicaid gross drug spending by 9.05%, or $3.15 billion, in 2019 for the top 100 drugs in each."


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