January 2, 2020 News, Press Releases

STATEMENT: Big Pharma Back To Business As Usual

 WASHINGTON, DC — In response to the news that drugmakers raised the prices of more than 250 drugs on Jan. 1, Ben Wakana, Executive Director of Patients For Affordable Drugs, issued the following statement:

“Big Pharma can’t break its addiction to price increases. Widespread price hikes to start the new year show why we can’t rely on drug corporations to exercise self-restraint; we need to enact laws to stop them. There are bills in Congress to stop price gouging. It’s time to pass them and bring relief to the American people.”

BACKGROUND

  • According to an analysis by 3 Axis Advisors, drugmakers hiked prices on more than 250 drugs in the United States on January 1, 2020.
  • CNBC: “The price increases bring the total New Year’s Day drug price hikes to more than 250.”
  • The 2020 hikes follow thousands of 2019 drug price hikes at an average of 10.5 percent — five times the rate of inflation.
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Patients For Affordable Drugs is the only independent national patient organization focused exclusively on achieving policy changes to lower the price of prescription drugs.