OPINION:
Americans are sick and tired of being sick and tired. Worse, they’re fed up with being ripped off in the process. More than half of all Americans fret over the price of prescription drugs, and nearly everyone agrees that Big Pharma’s unchecked pursuit of profit is to blame.
It’s promising that this issue has finally captured attention in Washington, where lawmakers are decrying unaffordable prescription drug costs and calling for action. But what exactly can be done to rein in the most powerful industry in America?
Put simply, our leaders must hold pharmaceutical companies accountable for their actions. The time has come to demand that Big Pharma lower drug prices, stop the use of anti-competitive practices that enrich drugmakers and restrict access to cheaper generics, and bring transparency to direct-to-consumer advertising so Americans know the real cost of the products they’re being sold.
Let’s be clear — despite Big Pharma’s best efforts to shift blame, the drugmakers themselves are responsible for high drug prices. Pharmaceutical companies control the price of their products and can raise them any time they need a cash infusion. In fact, between 2022 and 2023, manufacturers raised the price of 4,000+ drugs by an average of 15.2% – a rate far exceeding inflation. American families have been rightly concerned about the price of eggs, but can you believe that these increases translate to nearly $600 per drug? Americans can’t afford to keep up.
What’s even more egregious is that Big Pharma gives America the world’s worst deal on prescription drug prices. On average, Americans pay over three times more than consumers in other wealthy nations for the exact same drugs. For some products, the disparity is jaw-dropping — a difference of more than 10 times on drugs to treat blood clots and heart conditions, or 30 times on inhalers to treat asthma. In President Donald Trump’s own words, “it’s very unfair” that Big Pharma price gouges Americans while giving foreign countries a massive discount.
This price disparity isn’t an accident. It’s a deliberate scheme to rip off the American people in pursuit of profits. Luckily, President Trump’s Most Favored Nation executive order rightly called out Big Pharma for putting other countries first and America last, declaring that “this egregious imbalance [in drug prices] is orchestrated through a purposeful scheme in which drug manufacturers deeply discount their products to access foreign markets, and subsidize that decrease through enormously high prices in the United States.” In other words, Big Pharma takes more of Americans’ hard-earned money to cut other countries a break.
Knowing this, it isn’t a surprise that America, home to just 5% of the global population, accounts for 75% of global pharmaceutical profits. Americans are being taken for a ride while other countries get the best deal, and we’ve had enough.
So how does Big Pharma manage to keep prices so high in America? Simple: through flagrantly unfair practices that stifle competition — the very bedrock of American capitalism. Pharmaceutical companies find legal loopholes to extend patents beyond their intended lifespans, which block cheaper alternatives from reaching the market and, in turn, the American people. To put it plainly, Big Pharma cheats the system to strengthen its monopoly, reinforcing its power to charge Americans any price they want.
At the core of Big Pharma’s ability to rip off the American people is its continuous efforts to mislead the public — both to deflect blame for high prices and to sell Americans more ineffective, overpriced products.
It’s true — Big Pharma has mastered the blame game, spending tens of millions of dollars a year to maintain undue influence in Washington and our state capitals. As part of these efforts, Big Pharma throws its weight behind bills and initiatives that point the finger at everyone else while taking zero accountability for manufacturers’ central role in driving up drug costs. Big Pharma also funds a vast web of organizations that conceal their ties to the industry and push baseless narratives that obscure drugmakers’ responsibility for soaring healthcare costs. Meanwhile, Big Pharma profits from the status quo, using its influence to stop real reform.
Let’s not forget Big Pharma’s advertising practices. Did you know that the United States is one of only two countries in the world where pharmaceutical companies can advertise directly to patients? So Big Pharma takes full advantage, flooding Americans’ TV screens with about 9 ads a day, or 16+ hours of ads per year. That’s significantly more time than most Americans spend with their primary care physicians. Big Pharma spends tens of billions more on ads than on research to improve drugs for patients, an expense they get to write off even as hardworking Americans pay their fair share in taxes.
Worse still, many of the medications Big Pharma advertises cost more and work less effectively than cheaper alternatives. Simply stated, Big Pharma is selling the American people lie after lie. And not only are we buying it, we are paying top dollar.
Enough is enough. Americans are tired of being ripped off and misled, and tired of watching Big Pharma cheat the system, cash in, and put America last. It’s time for policymakers to step up and do what’s right, and to fight for We, the People — not Big Pharma.
• J.D. Hayworth is a former U.S. Congressman (R-Ariz.) and spokesperson for the Pharmaceutical Reform Alliance (PRA), an organization dedicated to growing awareness about Big Pharma’s anti-consumer practices that are resulting in skyrocketing prices in the United States for a wide range of vital pharmaceutical drugs. Read more: www.pharmareformalliance.com.
Please read our comment policy before commenting.