Drug pricing greed still being probed, and hopefully exposed?
In previous posts, I explained who really pays the costs when a drug company makes greedy use of an existing law. The Orphan Drug Law granted exclusive marketing rights to drug companies with the supposed intention to help promote better availability for drugs to help patients with rare diseases.
The issue was Marathon wanted to price their drug at $89,000 versus $1200 from existing overseas sources.
Marathon sold the rights to another company PTC, for $140 million dollars with an agreement to cash in on sales, estimated at another $50 million. Senators Bernie Sanders and Elijah Cummings are pressing PTC to know what they intend to charge for the drug and The Government Accountability Office to look into Orphan Drug Laws for impropriety.
What is the Real Issue
When Drug Companies charge exorbitant prices, both you, me, and all taxpayers are the ones subsidizing and paying the high costs. And by Government passing laws for exclusive rights, greedy Drug Companies are in effect taking advantage of the laws. The result is the laws promote higher drug prices that we all are paying for drugs. Whether it is higher Insurance Premiums or our taxes being used to supplement drug costs in Government Medicare or Medicaid programs.
He that hasteth to be rich hath an evil eye, and considereth not that poverty shall come upon him. (Proverb 28:22)
If this irks you as Immoral, write to your Congressional Representatives. Good luck if you even receive a reply. Will King Solomon’s proverb result in the USA? Frankly I think the odds are against it happening because Drug Companies are big, very very big, campaign donors to politicians..
Regards and Goodwill Blogging.
Emflaza Pricing Deal HERE
Kudos to Sanders and Cummings HERE
Amoral or Immoral Drug Prices HERE