Big Pharma Caught Red-Handed: How They're Stealing From You
You heard right. Big Pharma may be stealing millions or even billions from innocent Americans.
Here’s the deal:
There have been over 1,600 generic medications approved by the FDA since the beginning of 2017.
Yet 43% — OVER 700 — of them are not on the market in the States.
Out of these drugs that are not for sale, 36% of them would be the first to rival another branded drug.
What does this mean?
This means you are paying WAY too much for your prescription drugs.
When a specific drug goes without a competitor, the drug company can charge outrageous prices and get away with it.
But when a generic drug — with virtually the same ingredients and effect — hits the market, drug companies compete with each other.
And this makes the price of the drugs you need go down to a price you can afford — the more competition, the more affordable the prices become.
But since over 700 of these generic drugs are not on the market, you and thousands or millions of others are forced to go with an expensive name brand.
So what’s the problem? Why can’t these generic drugs be produced?
Well, big, money-hungry drug companies are desperate to keep the competition out of the game. They want to be the only one in the ring, so there’s not a challenge.
Challenge = more spending needed to rise above the competitors.
So instead they use dirty tactics to stifle any potential competition. They drown them in paperwork and lawsuits.
This can make it next to impossible to actually get these generic drugs in the ring.
Although the Trump administration set out to combat this very thing by increasing the number of generic drugs approved by the FDA (thanks to a new streamlined process), anticompetitive markets are still thriving.
“It’s a real problem because we’re not getting all the expected competition,” said FDA commissioner Scott Gottlieb.
Drug companies practically have free reign over the prices they set for drugs. This is in part because the U.S. doesn’t regulate or negotiate the price when new drugs go onto the market.
This is much different from countries like Canada, Australia, and Britain, which long ago decided to regulate the price of drugs so that anyone, regardless of their income, can afford medications — medications that could be the difference between life and death.
That means even the drug companies with the best lawyers and the largest marketing budgets can’t get in the way of patients getting affordable medication.
According to the Association for Accessible Medicines, it costs a patient two to three times more to fill a name-brand prescription than a generic drug.
Last year alone, Medicare saved $82.7 billion by using generic medications — that’s an incredible $1,956 saved for each person enrolled.
Imagine how much more we would all save if 700 more generic drugs hit the market.
To your health,
President, Clear Health Now