In the latest bid to pull the curtain back on drug pricing, Merck posted assorted data on its web site on Friday, although the company stopped short of providing details on specific medicines.
For instance, Merck disclosed that it raised list prices 10.5 percent in 2014, from 7.4 percent in 2010, before declining to 9.6 percent last year, according to the notice. On what is called a net basis, which is after Merck subtracts discounts and rebates to payers, prices fluctuated over time — starting at 3.4 percent in 2010 and settling at 5.5 percent over each of the past two years. Net prices peaked at 6.2 percent in 2012.
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In terms of profitability, post tax EBITDA in the entertainment industry ranks right up there with BIG Pharma. So next time you slobs go to the movoes and gorge on a boxcar of buttered popcorn, industrial sized box of Milk Duds and a two liter bottle of Mountain Dew, don’t come crying to pharma about the price of your well earned diabetes drugs.
Think drug prices are high now? Does Trump know that some of the most popular and important drugs Americans use are manufactured in Europe. When the 35% border tax gets tacked on then current prices will look as cheap as a five cent cup lemonade at the neighbor’s home made stand.
It is ironic that in a corporate rigged system bonuses are being paid more due to price increases rather than bringing a meaningful drug at affordable prices for masses.
A harsh taskmaster is needed to control and curtail such largesse.