Essay on The Drug Pill Manufactured By Merck & Co

1667 Words Nov 26th, 2016 7 Pages
“Pharma Bro” Martin Shkreli, CEO of Turing Pharmaceuticals raised the price on a drug to treat infections in AIDS patients by 5,000%, from $13.50 a pill to $750 a pill thus shining a global spotlight on the United States’ precarious healthcare market. Shkreli has become the ogre of healthcare. Yet other companies have jacked up prices just as much as Shkreli did, with no consequences other than soaring stock prices.
In September of 2016, the makers of the Epipen (The Epi-pen is only the latest in a long string of shocking and reprehensible price hikes in the pharmaceutical industry In 2015, Martin Shkreli, then CEO of Turing Pharmaceuticals, became the “most hated man in America” when he purchased the antiparasitic drug, Daraprim, and raised the price, literally overnight, from $13.50 per pill to a visceral reaction-inducing $750 per pill. Even before Shkreli’s dastardly deed, pharmaceutical manufacturers have been playing fast and loose with drug prices for years. Januvia, the diabetes pill manufactured by Merck & Co., has more than doubled in price since it’s introduction to the market just ten years ago. Gleevec, a cancer treatment manufactured by Novartis AG, was priced at $32,000 in 2001 now costs a jaw-dropping $120,000. Pfizer Inc. raised prices on at least 133 of its brand-name products in 2015.
The industry often tries to deflate the criticism by stating that list prices “don’t reflect the discounts and rebates they provide to health insurers.” Other drug…

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