U.S. vs. overseas prices for identical drugs

Make it make sense. For years, people have been talking about the cost differential for identical drugs in the U.S. versus overseas, with rhetoric like "we pay for the R&D." But why are we okay with being ripped off here in the United States?

Bristol Myers Squibb's Eliquis has more than doubled in price since its introduction in the United States, now costing $7,100, while it has decreased in price in Japan to $940. Similarly, Merck's Keytruda has increased by about 30% in the United States since its introduction, now costing $191,000, but decreased by about the same proportion in Germany to $89,000.

It's not just these two drugs. Johnson & Johnson's Stelara costs $79,000 in the U.S., while it costs only $20,000 in Canada and $12,000 in France.

The Senate Health Education Labor and Pensions (HELP) Committee has put out a report and is holding a hearing on this topic tomorrow. You can read their report here: Big Pharma's Business Model Report (senate.gov)

The excessive bilking of the American people takes food off the table of working Americans with family insurance premiums now more than 30% of the average household income before cost sharing. It's time to stop the madness.