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America's Health Held Hostage - Term Papers

America's Health Held Hostage

Auston Rich
ENG 102-031
December 6, 2012


Americas Health Held Hostage

Everyone gets sick, that's inevitable, but pretty soon you might not be able to afford it without taking out a second mortgage. Drug companies over the years have been subtly pushing the prices of drugs to markups of 100% to up over 1000%. As Julie Appleby reports in her article, "The price increases are drawing legal and political scrutiny, in a decision awaiting approval by the 9th U.S. Circuit Court of Appeals, drugmaker Abbott agreed last week to pay up to $27.5 million to settle a lawsuit over a 400% price increase on its HIV/AIDS drug Norvir. The price did not change" (USAToday.com). The government is ...

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in the United States; the average price rose 7.4% on over 13,000 brand name drugs last year alone. A few of the major ones: Pfizer's, Lipitor, cholesterol blockbuster rose 12.4 percent, Plavix, the blood thinner sold by Bristol-Myers Squibb and Sanofi-Aventis climbed 13.2 percent, Johnson & Johnson's ADD drug, Concerta, moved up 19.7 percent the, cancer treatment, Gleevec, marketed by Novartis jumped 20.9 percent, and Benicar, sold by Daiichi Sankyo rose whopping 29.3 percent! The drug companies excuse for these price hikes? That it is necessary to keep the drugs on the market and that they are less costly than other alternatives like surgery or high tech medications. However, some drug makers say these price hikes are misleading, stating the hikes fail to account for rebates given. Some manufacturers have said that pricing can have a slightly negative impact on revenue when rebates and discounts are considered. Suggestively, however, most manufacturers refused to disclose how ...

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PAPER DETAILS
Added: 9/12/2013 07:37:01 AM
Submitted By: acr325e
Category: Health & Medicine
Type: Premium Paper
Words: 898
Pages: 4

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