New pharmacy data reveals that the overall number of independent pharmacy stores increased over the past decade in the United States. The reality is this:
Don’t forget: Big Pharma companies — and Big Pharma companies alone – set the price of prescription drugs. And they alone raise those prices year over year — sometimes twice a year.
In fact, prescription drug manufacturers have raised the prices on more than 500 drugs already in 2021. And it’s not just never-ending price hikes — Big Pharma also likes to game the system to make it harder to keep more affordable generics from coming to market.
Those pricing schemes helped the top 10 Big Pharma companies take home nearly $400 billion dollars in sales in 2019. How do they use those billions?
Maryland’s already taken the right first steps to expose the special interest independent pharmacy lobby.
Policymakers should make sure they’re letting patient advocates do their job without entangling them in bureaucratic red tape. Pharmacy benefit managers (PBMs) work every day on behalf of patients, negotiating with Big Pharma and pharmacies to deliver the lowest possible out-of-pocket cost for patients at the pharmacy counter.
One way PBMs do that is working with health insurance providers and employers to make prescription drugs accessible and affordable. And overwhelmingly, job creators approve of their work: 93% of them like their PBMs, and 81% say PBMs help reduce drug costs for their business.