All Talk, No Action? –
Feb. 24, 2018 – With seven pharmaceutical executives set to testify before the Senate Finance Committee on Tuesday, one can only hope for a similarly pivotal moment for prescription drug prices. Like their predecessors in the tobacco industry, the drug makers will testify at a time of near-universal anger over industry antics.
Drug prices are soaring in a way that defies reason. A vial of insulin that cost less than $200 a decade ago now sells for closer to $1,500. Actimmune, a drug that treats malignant osteoporosis and sells for less than $350 for a one-month supply in Britain, costs $26,000 for a one-month supply in the United States. And the prices of many drugs — that treat cancers, high blood pressure, allergies and more — have risen so much that average consumers are rationing them, at grave peril. Not even experts seem to know how those prices are set or why they keep rising.
