News has broke about the recent prescription drug price gouging that has been taking place, and its leaving some individuals in serious medical trouble. Without the money to pay for the increases in drug prices, patients often see their medical conditions becoming worse, even to the point of death.
Take a look at the examples of some of the most craziest drug price increases for yourself . . .
Perhaps one of the most insane prescription price increases was that made by Turing Pharmaceuticals CEO, Martin Shkreli. When he raised the price of a Daraprim pill from $13.50 to $750, (5,000% markup) he became one of the most hated men in the American and a “poster child” for Big Pharma’s insidious greed. This drug is used to treat parasitic infections in HIV, as well as pregnant women. However, he would not be the only person to increase prescription drug prices; this process is ongoing.
Watch the video below and you’ll find out why this guy has a rep for being public enemy #1.
Valeant Pharmaceuticals International
On the same day that this pharmaceutical company bought the rights to medications, it immediately increased the cost of Nitropress by 200 percent, and the list price of Isuprel saw a 500 percent increase. What changed? Absolutely nothing! The product was made by the same people, and it was the same drug that came off of the same production line before being purchased by Valeant Pharmaceuticals International.
When new ownership took over Mallincrkrodt Pharmaceuticals, it saw a nearly 2.5 price increase for one of its acetaminophen injections known as Ofirmev. This drug is known for relieving pain and fever, but many people can no longer afford the prescription. This pharmaceutical company also chose to increase the price for another drug by nearly six-fold. This drug, Vimovo, is used by many arthritis patients to help ease their pain. With increased drug prices such as these, the pain of not having the money for the prescription could be just as worse as the pain associated with the medical condition.
Some companies purchase the rights to a drug with the intention of increasing the drug prices, instead of helping patients heal and cure their medical conditions. This is exactly what Rodelis Therapeutics did when it purchased the rights to cycloserine, a tuberculosis drug. It bumped the prescription drug prices from $500 per 30 capsules, to an unbelievable $10,800. Since then, the company has given the rights to the Purdue Research Foundation; however, the price for cycloserine is still double its original cost – it is now priced at $1,050 for 30 capsules.
The drug shortage is also to blame for these drug price increases. Many drug companies refuse to sell their products to the generic manufacturers that create generic products for patients who cannot afford the original, expensive version of the drug. The fact is that these drugs are not only saving lives, such as drugs that treat Hepatitis C, but they are also breaking the budgets of hospitals and patients around the world.
Even though these prescription drug prices have increased, there has been no added quality or value to the actual drugs. Many people of influence, such as Presidential hopefuls Bernie Sanders, Hilary Clinton and Donald Trump, have voiced their intent to reduce prescription costs if they are elected into office. Donald Trump has gone as far as to call out Shkreli, referring to him as a “spoiled brat.” Even though many CEOs and companies have increased their prescription prices, Shkreli is the most insane, which is why he has made a statement in regards to lowering his price. However, no formal reduction has been made to the drug price at this time.
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