Americans pay pharma more than the rest of the world combined for the top 20 blockbuster drugs (see: financial filings by Public Citizen).
The U.S. is pharma golden goose! and the analysis shows how much the industry has at stake as it fights Democrats’ plan to allow Medicare to negotiate drug prices and let employers piggyback off those lower prices.
– in 2020, the 20 top selling drugs generated $158B of global revenue and U.S. sales represented 64% of that total
– and the revenue imbalance is bigger for drugs like Biktarvy ($6.1B) over 5 times greater than in the rest of the world ($1.2B)
It is important to note that Americans DO NOT consume drugs more than people in other countries. It’s just much higher prices!
Medicare is prohibited from setting drug prices, and employers have no leverage in lowering commercial prices.
America spends more on hospital and physician care than drugs, but drug companies often have the highest profit margins.
Many companies profit off the flow of drugs, but pharma retains the vast majority of the money!