Posted at Hartmann Report on Sep. 18, 2024
Big Pharma's GOP Cash Grab: How Republicans Are Selling Out America for Drug Money
Congressional Republicans push to keep drug prices sky-high, defying voters, and fueling corporate greed…
Congressional Republicans are enthusiastically doubling down on the corruption openings five Republicans on the Supreme Court gave them when they legalized political bribery with Citizens United. Their newest scam is trying to stop Medicare from negotiating drug prices.
A new study this year by the RAND Corporation found that Americans pay 4.22 times more for brand-name drugs than the citizens of any other developed country. That's a 422% markup against the (already profitable) prices people in other countries pay for the same drugs, with the entire burden borne by citizens of the US, directly or indirectly.
And that price-gouging has been on hyperdrive since the Bush administration got legislation passed in 2003 that forbade Medicare from negotiating drug prices like the Pentagon, big hospital chains, and drug store chains do routinely: Between that year and 2020, retail prescription drug spending exploded by 91 percent in the US.