Please watch this short (3 minute) video. It provides a few key points.
- Pharmaceutical manufacturers got a drug approved at a lower retail price and then tripled the amount from $30K/year to $93K/year.
- Pharmaceutical manufacturers expect the insurance companies to pick up the tabs which really doesn't save any one any more because we get higher insurance rates in return.
- Pharmaceutical manufacturers have been known to cut the prices of their drugs in response to market pressure
- Pharmaceutical manufacturers claim that it costs $5 billion to bring a new drug to market.
Tell me there aren't 50,000 patients who need these drugs? One example in the video talks about a new drug for leukemia. According to the ACS, there are more than 50,000 new cases of leukemia diagnosed each year. So there must be quite a few of them around who could benefit from the medication.
I think I have it now.