Remind yourself of this every time you hear that Donald Trump wants to murder drug dealers.
This is unbridled greed at the expense of people’s health. Pfizer’s board of directors has awarded CEO Ian Read an $8 million pay raise as the company continues to raise prices on dozens of medications. At the end of last year, Pfizer hiked prices on 116 drugs.
Big Pharma wants us to believe that its costs are driven by expensive research and development. That’s rubbish. Pharmaceuticals is one of the most profitable sectors in the economy. Those profits are then funneled into aggressive advertising campaigns and executive pay. It’s a vicious cycle that has resulted in American paying more for prescription drugs than any other industrialized nation. What do you think?