Pharmaceutical companies claim that the high price of prescription drugs is due in part to the need to fund innovative research for new drugs, but a new study found that the numbers simply don’t add up.
Researchers compared the cost of the 20 most prescribed drugs and found that they cost an average of 59% more in the United States than in other developed countries. What does this mean?
American consumers pay $116 billion more per year for the same prescription drugs as people in other countries who are—in theory—supposed to be helping fund that same innovative research.
With pharmaceutical companies investing $76 billion into research and development each year, they could pay for their research and development 1.5 times over with the profits they’re making off of American consumers—debunking their claim that high prices are necessary for funding research.
It’s time for Big Pharma to answer for high drug prices, and for American consumers to get a break.
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