We live in a time where Americans rarely agree on anything. That said, a national poll revealed that we do agree that prescription drug prices in our country are too high, and that Big Pharma is to blame. And those feelings are backed up by real data.
Over the past decade, the prices of countless life-saving medications have soared to alarming levels. New analysis shows that the median annual list price for new drugs nearly doubled since 2021, reaching a staggering $370,000 in 2024. Those prices will likely continue to rise, too, leading everyday people to make difficult decisions and trade-offs when budgeting for their basic needs.
Sadly, this situation is unique to Americans. Research shows that Big Pharma charges Americans more than three times what consumers in other developed nations pay for the exact same brand-name medications. This disparity jumps significantly for certain life-saving drugs, for instance to a difference of 30 times on inhalers to treat asthma.
To get away with this, Big Pharma pumps tens of millions of dollars each year into lobbying efforts that undermine commonsense drug pricing reforms and funnels millions to seemingly independent research and advocacy groups that propagate misleading industry talking points.
Thankfully, the Pharmaceutical Reform Alliance (PRA) recently published an affordability report that shines a light on these alarming issues and outlines ways we can fight back and make drugs more affordable.
One specific step that is already underway is President Trump’s Most Favored Nation (MFN) drug pricing Executive Order which established a framework to align U.S. prescription drug prices with the lowest rates paid by other comparable nations. Although it’s a promising step, Congress still needs to finish the job by codifying this policy into law. You can let Alabama’s congressional delegation know that you want to see this legislation move forward by completing this petition today.
For too long, Big Pharma has pushed the American people to the financial brink, charging U.S. patients out-of-control prices while the rest of the world gets a discount. We need now to the pharmaceutical industry. We need to end the great American rip-off. I urge you to make your voice heard today.
Eric Hare is president and CEO of Global K9 Protection Group, a veteran-owned small business headquartered in Opelika, Alabama. He is a retired U.S. Army infantry officer with 25 years of service.
