The High Cost of Keeping Our Kids Healthy

I can’t count the number of times I’ve gone to pick up my child’s prescription only to find that – yet again – the drugmakers had increased prices. In fact, pharma companies do this often — for apparently no rhyme or reason. 

This is not only a frustrating experience, but one that impacts our wallets and budgets, and forces too many mothers to make the impossible choice between their child’s medication and other basic necessities. 

We are not alone — earlier this year, Big Pharma raised prices for American consumers who rely on more than 800 medications. Often, these price hikes even lack clinical justification. So why does Big Pharma do it? Simply because they can, and they’ve gotten away with it for far too long.

What’s worse – Big Pharma is charging American families more for their medications than consumers around the globe. In fact, Americans pay over three times what consumers in other wealthy countries pay — even for the exact same drugs. Here’s a jarring example: a life-saving inhaler costs 30 times more for families in the U.S. than in Europe. 

This has led to Big Pharma maintaining profit margins twice those of America’s largest companies.  

Simply put, Big Pharma doesn’t play by the same rules as other industries. Now, the American free-market system is the best in the world, and I believe in capitalism and respect the system that rewards innovation and companies making a profit. But, when people are cheating the system using monopolistic practices to further enhance their profit margins and stifle competition, that’s simply unfair, unsustainable, and un-American. We can’t and shouldn’t have that.  

The good news is that help is on the way – there are encouraging signs that our elected officials ‘get it’ and are moving to make changes that will provide Americans some relief.

Indeed, there is a growing list of administration and bipartisan efforts in Congress to put an end to these tactics that, for too long, have done a disservice to American patients. Additionally, it appears that President Trump is preparing to announce and sign an Executive Order aimed at tying the price Americans pay for drugs to the price paid by consumers overseas. These are all encouraging signs because the monopoly Big Pharma enjoys has to end.

That said, big problems often require multiple solutions. And, we at the Pharmaceutical Reform Alliance, have some ideas for consideration:

• Increasing the affordability of prescription drugs.
• Putting an end to anti-competitive practices that let Big Pharma cheat the system. 
• Ensuring Big Pharma discloses their medication prices in their advertisements. 

These policy ideas bring relief to American families and must be met with a sense of urgency. 

You can do your part, too. Tell your friends or engage with our LinkedIn or X posts to tell us how this issue impacts you. Together, we can encourage Congress and the Administration to act! 

To learn more, visit www.pharmareformalliance.com/.

Emily Lampkin is a spokesperson for the Pharmaceutical Reform Alliance and is the founder of the Women Leaders Series.