While we don’t need any additional forces to drive up healthcare costs in America, the pharmaceutical companies seem to think otherwise. The Consumerist ran a report discussing a Reuters article indicating large pharma companies such as Pfizer, AstraZeneca and Bristol Meyers Squibb have been exponentially rising prices on some of their products that are nearing the end of their patent protection.
Drugs such as Lipitor, Plavix, and Singulair (along with 12 other big sellers) were included in the report and were showing double-digit increases in 2010. This year many of these drugs’ patents will expire opening the doors for competing generics to sweep in. Might as well milk everyone for all its worth while you still can.
This is exactly what I’ve been talking about this whole time. Businesses exist to make a profit, as is their right. But how incredibly selfish is this? People are relying on your products to live healthier lives or survive outright. And because your focus is on how much profit you can make from your patent portfolio you only end up hurting people, and that’s unacceptable. With behavior like that I’m glad you are limited to so many years on a patent, who knows what you would do if your patents never expired.
- Drug prices soar as generic pressure rises (msnbc.msn.com)
- Hopes of Generic Plavix Dashed…Again! (keepyourhearthealthy.wordpress.com)
- Is This the End of Big Pharma? (fool.com)
- FDA to Decide the Fate of AstraZeneca’s Heart Drug Brilinta Thursday (dailyfinance.com)