July 28, 2022
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America’s Lawyer E15: So far this year, drug companies have raised their prices nearly TWELVE HUNDRED times this year alone – just because they can. We’ll tell you how this impacts your healthcare. The Church of Scientology is trying to get rape charges against an actor and member dismissed by the Supreme Court so the public doesn’t pay attention to the growing scandals of the group. We’ll bring you the details. And Cuba has had some amazing breakthroughs with Alzheimer’s research and treatment – while US firms were caught phonying data for two decades. We’ll explain what’s happening. All that, and more is coming up, so don’t go anywhere – America’s Lawyer starts right now.
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*This transcript was generated by a third-party transcription software company, so please excuse any typos.
Hi, I'm Mike Papantonio and this is America's Lawyer. So far this year, drug companies have raised their prices nearly 1200 times, just this year alone, just because they can. We'll tell you how that impacts healthcare. And the Church of Scientology is trying to get rape charges against an actor and member dismissed by the Supreme Court so the public doesn't pay attention to the growing scandals around that cult. We'll bring you the details. And Cuba, well, they've done some amazing breakthroughs with Alzheimer's research and treatment while the US firms are caught phonying up data for decades. We'll explain what's happening. All that and more is coming up. Don't go anywhere. America's Lawyer starts right now.
A new analysis has revealed that drug companies have raised their prices roughly 1200 times so far, just this year. Ring of Fire's Farron Cousins joins me to talk about what's happening and many other issues. Farron, when you hear those kinds of numbers, you go, how in the world does it happen? Well, obviously it happens because we have a government that won't do what they're supposed to do, because they're getting so much money in political contributions. The political comp, let's see it's the weapons industry and then the pharma industry.
Yeah.
I mean, the highest.
And what's, you know, disturbing about this, when you break that number down even more, you know, 1200 so far this year in the first six months, we're talking about three times per day, every day, you know, weekends included. They don't take holidays. But three times a day, one drug in the United States is seeing its price being raised. So every eight hours, big pharma is raising the prices on at least one drug here in the United States.
Let me give you some examples. Pfizer with their leukemia drug, it's a life saving drug and it, it's $21,000 per vile. And Congress for decades now has done nothing about it. We're starting to see some activity now, but even what they're coming up with right now, doesn't solve the problem. Congress is saying, well, we, we're, you know, we're coming here to, to, to fix the prices. No, they're not. If this bill passes that they're talking about, all it does is allows Medicare to negotiate. That's it. No other, no other insurance entity can negotiate with these prices.
Right. And, and what's gonna happen as a result of that is that the drug companies will just raise the prices even more for people with private insurance or no insurance.
Yeah.
To make up the difference. So while it is good, obviously that, yeah, we're, we're doing something about it. It certainly is not enough. Because again, with Medicare, you're talking about the 65 and older crowd, you're gonna see possibly if this ever passes, which it probably won't, you're gonna see some reduction on some of the drugs, as long as they've been out on the market, you know.
11 years, yeah.
11 years at this point. And the markups, the really bad ones are usually with those blockbuster brand new drugs, which can run yearly doses when they first roll out hundreds of thousands a year.
Okay. GSK, for example, has a lupus drug. They charge $4,000, $4,000 every time you get a prescription for this, for this lupus drug. They have been on the market a long time. They have been one of the examples that's been in front of Congress, Pfizer, Merck.
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