It’s Really Hard Not to Hate the Pharmaceutical Industry


Another day, another drug. Today comes news of Nitropress, a generic blood pressure drug that was priced at $44 per vial way back in 2013. Then it was sold to Marathon Pharmaceuticals, which raised the price to $257. A few months ago it was sold yet again, this time to Valeant Pharmaceuticals, which raised the price to $806. But no worries! According to a spokesman, no one will ever be denied this medication:

“These are drugs that are only used by hospitals — they are not sold in pharmacies — in accordance with specific surgical procedures. This means that whenever the protocol calls for use of these drugs, they are used. Patients are never denied these drugs when the protocols call for their use.”

And there you have it. Hospitals have to use it, and no one else makes it, so Valeant can charge whatever they want. Satisfied?

Anyway, Democrats are “demanding answers” from Valeant, which will probably do about as much good as it did when they demanded answers from Marathon last year about their price increase. Or all the other companies they’ve demanded answers from ever since 10x price increases became the pharmaceutical industry’s favorite new sport. That is to say, none.

It’s a funny thing. I’ve probably read just about every reason in the book explaining why national health care is supposed to be a terrible idea. Most of these reasons are pretty lousy—either unsupported by the evidence or else directly contradicted by it. But there’s one exception: the argument that a national health care plan would drive down the price of drugs—as it has everywhere else in the world—and this would stifle innovation in the pharmaceutical biz. There’s some real merit to this claim.

It’s not quite that simple, of course, and it would take a longish post to go through this topic in detail. Nonetheless, you can put me in the camp of those who want to tread pretty carefully when it comes to regulating pharmaceutical pricing. But these guys are sure making it hard to maintain that position, aren’t they?

THE BIG QUESTION...

as we head into 2020 is whether politics and media will be a billionaires’ game, or a playing field where the rest of us have a shot. That's what Mother Jones CEO Monika Bauerlein tackles in her annual December column—"Billionaires Are Not the Answer"—about the state of journalism and our plans for the year ahead.

We can't afford to let independent reporting depend on the goodwill of the superrich: Please help Mother Jones build an alternative to oligarchy that is funded by and answerable to its readers. Please join us with a tax-deductible, year-end donation so we can keep going after the big stories without fear, favor, or false equivalency.

THE BIG QUESTION...

as we head into 2020 is whether politics and media will be a billionaires’ game, or a playing field where the rest of us have a shot.

Please read our annual column about the state of journalism and Mother Jones' plans for the year ahead, and help us build an alternative to oligarchy by supporting our people-powered journalism with a year-end gift today.

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate

We have a new comment system! We are now using Coral, from Vox Media, for comments on all new articles. We'd love your feedback.