Big Pharma are Ripping off Americans

Big Pharma greed knows no bounds. Pharmaceutical corporations abuse their monopoly power to rip off Americans en mass. These corporations rake in ridiculous amounts of money from U.S. consumers in comparison to the money they make off all other countries, with Americans spending more per capita for prescription drugs than any other industrialized nation. The pharmaceutical industry spends billions lobbying Congress to do nothing to lower prescription drug prices, they get their way. And so, the American people continue to pay the highest drug prices in the world.

Big Pharma like Pfizer, BioNTech, Moderna, and Sinovac raked in USD 90 billion in profits with COVID-19 vaccines. In 2020, the combined sales in the U.S. for 17 of the 20 top-selling worldwide drugs generated more money than those same drugs did for the rest of the world combined. U.S. sales of the 20 top-selling drugs totaled $101 billion while the rest of the world’s revenues on these same drugs totaled nearly $57 billion.

Healthcare Issues and Crisis in the US

Complexity in the US Health Care System Is the Enemy of Access and Affordability. Lack of insurance coverage, high costs, and poor outcomes are well-documented problems in the US health care system, and policies to address them have been hotly debated for decades. For public programs including Medicare, Medicaid, and the ACA marketplace, the complexity also extends to signing up for coverage.           

KFF research found the prescription drug costs to be an important health policy area of public interest and public concern. The latest deterioration in the pharmaceutical industry’s positive score accentuates its already-negative image. Currently, 18% of Americans have a positive view of it and 60% a negative view, with 21% feeling neutral.

Covid-19 and Vaccines

Acceptance of the COVID-19 vaccination becomes more critical as new variants continue to evolve and US attempts to move from pandemic response to management and control. COVID-19 stands out in the unique way it has polarized patients and generated sustained vaccine hesitancy over time. Vaccine hesitancy remains a highly documented reason for delay and/or outright refusal of the vaccine; it has become a critical building block of the landscape that constitutes our understanding of the overall pandemic and its future evolution. According to NPR, Centers for Disease Control and Prevention (CDC) and Food and Drug Administration (FDA) is trusted by only half of Americans. 52% of Americans have a great deal of trust in CDC, while only a mere 37% of Americans trust the FDA.

Sid brings on Steve to debate.

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