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Price Gouging in the Pharmaceutical Industry

Price Gouging in the Pharmaceutical Industry
05 May 2017

Price Gouging in the Pharmaceutical Industry

Maybe you’ve seen on the news lately that a drug has increased in price 6,000 percent and are asking yourself: how is this possible? Price gouging in the pharmaceutical industry is notorious, especially in recent years. The customer, the person that needs the medication, suffers the consequences from price gouging.

Sometimes an increase in price on a drug is necessary to offset research and development costs. This is understandable but the drastic increases in many drugs are making life-saving medication unaffordable for average Americans. Turing Pharmaceuticals notoriously raised the list price of Daraprim from $13.50 to $750 a pill, and its’ infamous former CEO Martin Shkreli defended the move:

”Toxoplasmosis is a very serious, sometimes deadly disease, yet there has been no significant advances or research into this disease area in decades.”

This massive price hike sparked outrage among the medical community and patients. Turing Pharmaceuticals became the poster child company for price gouging in the pharmaceutical industry. Later, the company lowered the price but the damage was done and their reputation was negatively affected.

Getting Help With Medication Costs

You do not have to be at the mercy of the standard pricing offered by pharmaceutical companies if you’re uninsured or in the Medicare “doughnut hole”. If your out-of-pocket prescription drug costs are over $150 a month, Prescription Assistance 123 can help lower the cost of your medication. We negotiate and work directly with drug manufacturers for your acceptance into the various patient assistance programs available.

You do not have to worry about all the paperwork and communications which can get confusing if you’re not used to dealing with drug manufacturers. We take care of the whole process for you…from start to finish.

Contact us at 888.344.8915 right now and begin putting your hard-earned money back in your pocket instead of spending it on expensive medication.