Price gouging of US consumers by drug companies so that they can make enormous profits off patients so that they can pay their executive massive salaries and inflate their stock prices is a well-known scandal. Yet another example involves a drug known as Revlimid, marketed by a company Celgene to treat the bone cancer known as multiple myeloma.
When David Armstrong was diagnosed in 2023 with this disease, he began a quest to find out why a drug capsule taken daily that costs just 25 cents to make is sold for nearly $1,000. What he found is a tale of disgusting greed and cynicism by the people who run these companies, who kept raising the price over and over again, 26 times in all over the years, just because they can, uncaring about what it did to people desperately trying to live.
That steep tab has put the drug’s lifesaving potential out of reach for some cancer patients, who have been forced into debt or simply stopped taking the drug. The price also helps fuel our ballooning insurance premiums.
They also bought off doctors.
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