Monday, May 13, 2019

the generic drug price fixing scheme

For those of you who missed 60 minutes last night, please have a look at the first segment, after the 4 commercials. Law suits are already in process, Congress may or may not even look into this. The bottom line, the entire generic drug industry is in cahoots and is price fixing the most common and most widely used drugs that many of our readers, including myself are forced to pay. It's worth a watch.. Not that I even think we could do something about this at our local CVS, but maybe in my lifetime, the courts will judge these companies for what they are doing to many Americans and make them pay us all back.

https://www.cbs.com/shows/60_minutes/video/_SPbK7pa0HqLvYkr65pLG0cjLDGbZOoJ/the-price-of-generics-the-most-unlikely-meeting-mark-bradford/

7 Comments:

At May 13, 2019 at 3:02 PM , Anonymous Anonymous said...

How come in this county we pay so much more than the Canadians due? Same companies making the drugs I bet, but clearly Canada has better control than the US does. Shameful

 
At May 13, 2019 at 3:43 PM , Anonymous Anonymous said...

Its Trumps fault.

 
At May 13, 2019 at 4:07 PM , Anonymous Anonymous said...

I would disagree with the last poster. These drug prices have been ridiculous long before Trump was elected. I blame him for a lot but he is not responsible for this fiasco, the drug companies are.

 
At May 13, 2019 at 4:10 PM , Blogger jim pillsbury said...

They were telling people to go to Canada under Bush and Obama. None of them would ever get anything done with congress and the President taking so much in campaign donations from the drug industry.

 
At May 13, 2019 at 4:14 PM , Anonymous Anonymous said...

The Trump comment was not supposed to be take seriously ;)

 
At May 13, 2019 at 4:22 PM , Blogger jim pillsbury said...

i get it... why not blame him. Look at the market today and watch what China does in retaliation to his tariffs. Sorry I just had to write something about today's news.

Congress made the generic drug industry, in hopes in keeping the drug prices down years ago. But if the Feds prove they all conspired to raise prices, the fines will be something to see.

 
At May 14, 2019 at 10:57 AM , Blogger jim pillsbury said...

On Monday, Attorney General Maura Healey tweeted, “People depend on generic drugs to keep their health care costs down. The actions by these companies are reprehensible, illegal and betray the public’s trust.”
If successful, the civil suit would prevent the companies from continuing the conduct and pay fines to the states involved and to consumers who were harmed by the tactics.
We should also hope that criminal behavior in such cases be prosecuted to the fullest extent of the law and punished severely. There is something particularly sinister about victimizing the sick and suffering, and we must send a clear message that it will not be tolerated.

 

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