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Drug prices rise despite Trumps promises
A new report from Senator Bernie Sanders and the Democratic staff of the Senate committee that includes health legislation found that prescription drug prices have increased substantially since President Trump took office in January. Despite President Trump's campaign promises and his demand that pharmaceutical companies lower their drug prices, the prices of 688 drugs have increased since Trump took office, with some rising more than 1500%. Major pharmaceutical companies have increased the costs of many different cancer drugs, antidepressants, and more.
Americans still pay more for prescription drugs than people living in most other countries. For example, the price of the cancer drug Keytruda, which is approved to treat 18 different types of cancer, increased by $8,000 since Trump took office in January, bringing the U.S. price to $206,000 per year. In Germany, for example, the exact same drug costs only $80,000.
The report also highlights how President Trump’s One Big Beautiful Bill that became law a few months ago prevents or delays Medicare from negotiating prescription drug prices of the most expensive drugs, including cancer treatments Opdivo, Darzalex, and Keytruda. The prices of these drugs are much more expensive in the U.S. than in England, Canada, Germany, Japan, and many other countries. Preventing Medicare price negotiations would increase the cost of all Medicare premiums and many co-pays, making it even harder for U.S. patients to afford the treatments that they need.
To read more examples and suggested solutions, click here for a free copy of the report.
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