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Drug Companies RIP Off Consumers with Excessive Prices

Drug Companies rip off consumers every time the doctor hands out a prescription. The ingredients in these medications costs the manufactures less than the bottles that hold them. Yet patients pay through the nose. Money that doesn’t go into manufactures pockets goes for advertisements of the product and bribes to doctors. That’s why drug manufactures have the highest profits in the world of business.

U.S. Drug Companies are the most profitable in the world of business. They have a monopoly on newly patented drugs for 17 years, which means no generic can be marketed for that length of time. And they can charge any price they wish. The sky’s the limit. When you consider the cost of manufacturing the specific drug it might seem reasonable, but the cost of manfacturer is a small fraction compared to the price they charge. The packaging a prescription drug is wrapped in costs more than the ingredients. Drug companies protest that they spend millions developing and testing drugs, if that’s the case, why are their net profits the highest of all other industries? Of course, we must count the advertising costs, which were over $20 billion last year. That also has to be figured into each prescription.

Image by Mike Licht, NotionsCapital.com via Flickr

Why do they need to advertise anyway? You can’t buy a medication without a doctors prescription, and that brings us to the substantial amount they shell out to bribe doctors. You can be sure when you go to the doctor for an ailment, the only drug available for your ailment will be that particular drug.

Drugs cost 50% less in European countries than in the U.S.. The reason being the insurer is the government and they wont pay a higher price. The drugs are made by the same manufacturers and contain the same ingredients as in the U.S. and are manufactured in the same controlled conditions. If the U.S. government forced drug companies to stop the bribes and advertisements and demanded they sell at the same price as in Europe our prescription drugs would cost half as much as now.

A cancer researcher at Mayo clinic found that a deworming drug used for sheep could successfully treat colon cancer in humans. With a $11 million dollar grant it was tested on 1400 colon cancer patients. Johnson and Johnson were given the go ahead to produce it for humans. The brand name is Ergamisol. Shortly afterwards a colon cancer patient was prescribed the drug. Imagine her shock when she was charged $300 dollars, since she knew the same drug for sheep was sold locally for $8.00.

Another way drug companies increase their profits is to cut the strength of a drug by half and put it in the same bottle and charge the same price. Sandoz did that when they cut the strength of Triaminic Cold and Cough Syrup for children. Then had the brass on their face to call it, “new and improved.

Taxol, the drug for ovarian cancer, was found in the bark of the yew tree. Our government funded the National Cancer Institute for developing and proving the drug works. It was then given to Squibb to finish testing. Although Squibb had little expense they charged from $4,000.00 to $6,000.00 for each patient tested. If that isn’t ripping off the patient, what is?

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Articles by Ruby Hawk;

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  1. Even here in UK the price of medications is high, the drug companies also charge the National Health Service huge amounts for drugs they make for so little. I doubt it will ever change

  2. Thanks for this article Ruby and amen, I have been saying the same thing for years!!

  3. Wow charging that much when they don’t need to. That is just awful. Thanks for the wonderful article.

  4. I agree completely. With drug companies, oil and gas companies charging any price they choose, what are we to do. The oil companies bribe the government and run up prices, the drug companies bribe the doctors and charge outrageous prices for medication and everyone wonders why unemployment is so high and no one can afford to live.
    If you visit a doctor with a cold, which has no cure, I am certain you will leave with prescriptions. Doctor’s have a lot to do with the rise in drug addictions that we face today. “Doc, I banged my foot against the car yesterday and am in pain.” Doc: “OK, we’ll write a prescription for some NARCOTIC pain meds, come back and see me in a couple weeks.”

  5. Something i always have fun with is asking the doctor, “So, if i take this drug I’ll be better in 7 days, but if i don’t I’ll be better in a week?”

  6. Thanks for writing this one, Ruby. More people need to know that Big Pharma is cheating them blind. My brother-in-law has had a serious illness for many years and takes very expensive medications. Imagine his surprise when he found out that just one of these meds were marked up by 224,973%!

  7. You are so right. The pharmacy here in NJ always charges a lot for prescriptions. My mother has needed different medication for things and they have been expensive. Thanks for the informative article.

  8. I agree, many people cannot afford prescription medications who desperately need them.

  9. The cost of prescription drugs is high. If you don’t have medical insurance, you’re pretty much screwed. And sometimes, you don’t really need any medication, but when you leave the doctor’s office, they will give you a prescription like they did to me when I got a bad infection in my ear for cleaning them with Q-tips.

  10. People is making money from sickness that kills.

  11. Wow they drain out pocketbooks.

  12. This shameful act has been going on for quite some time. It needs to stop. People are having to go without the medications they need so they can eat. It should not have to be a choice like that. Outstanding article. Well, well done, Ruby.

  13. Business is to gain profit, but this really goes too far. $300 compared with $8, it’s very killing, especially to the poor people.

  14. very valid points Ruby. It is good to earn profits, but some ethics should also guide the business.

  15. Good points. Thanks, Ruby!

  16. A well written article.

  17. I didn’t realise there was such a huge mark up on drugs. It is awful that drug companies can charge so much when people are in a vulnerable condition and have no choice other than to pay up. A very good post, Ruby.

  18. excellent article Ruby and one that is much needed. Paying high prices for medications shouldn’t be allowed but, no one seems to care as long as the big companies make money.

  19. Firstly, Congrats on your article making it into the hot content! Excellent article post on how the drug companies price gouge the consumers! This has been going on for several years!

    This even happened in Canada too! This is just another good reason why folks should return to the old ways and start practicing alternative medicines.

  20. how much of this is so sadly true great article Ruby.. but I don’t have to keep saying that you know it :) Frank

  21. This is very sad thing.

  22. Excellent, excellent. This has so much relevance for our country where privatization of essential services has made the government hospitals, already in a bad condition, a non functioning unit which even poor people wouldn’t resort to. The cost of medicines is beyond the means of even middle class sections, so what are we to do?

  23. Thank you Ruby, this needed to be said, and it doesn’t only happen in the US.

  24. cheers here Ruby book marked it cheers

  25. I agree! I myself have a prescription from online and it is FAR CHEAPER than offered at stores!

  26. Ruby congrats on making the hot content list way to go! Great article, we just went through this at my house. My boyfriend who has no insurance went to the doctor for a sinus infection (now I have had several of these in my life and extensive knowledge or medication) the doctor gave him a 40.00 antibiotic. Due to the fact she gets paid by the drug companies to do this when another antibiotic could have been used and worked the same that would have cost 8.00 and is a much better one to use for sinus infections. This group of doctors only wants to give prescriptions for medication they get a kick back for. It is wrong what they are doing. A lot sick people are unable to work and do not have insurance and to kick a person when they are down is a sin in my book.

  27. There are coupons on the internet that will cut costs. Luckily, for me at least, the medicine I am paying a thousand dollars for should be generic by the end of year or early next year.

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