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Merck wants Americans to pay $712 for a Covid drug that taxpayers helped develop
Key Excerpts from Article on Website of The Guardian (One of the UK's leading newspapers)
Posted: October 24th, 2021
https://www.theguardian.com/commentisfree/2021/oct/14/merck-...
Merck is planning to charge Americans 40 times its cost for a Covid drug whose development was subsidized by the American government. Americans are facing not merely expensive drugs but prices that are examples of outright profiteering. In many cases, the medicines we are being gouged on are those that we the public already paid for. These facts show us that pharma-bankrolled Democrats trying to kill drug pricing measures aren’t just bought and paid for in this particular skirmish – they are foot soldiers in the pharmaceutical industry’s larger multi-decade campaign to seal off and rig America’s alleged “free market”. A new Public Citizen analysis shows that the 20 top-selling medicines generated almost twice as much pharmaceutical industry revenue in the United States as in every other country combined. For all the pharmaceutical industry’s self-congratulatory rhetoric about its own innovations, the federal government uses your tax dollars to fund a lot of that innovation, research and development. A study from the National Academy of Sciences tells that story: the federal government spent $100bn to subsidize the research on every single one of the 200-plus drugs approved for sale in the United States between 2010 and 2016. We now routinely face immoral situations like last week’s news that pharmaceutical giant Merck is planning to charge Americans $712 for a Covid drug that cost only $17.74 to produce and whose development was subsidized by the American government.
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma profiteering from reliable major media sources.
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