Big Pharma Makes More Off of US Sales Than Rest of the World Combined
Big Pharma Makes More Off of US Sales Than Rest of the World Combined
https://truthout.org/articles/big-pharma-makes-more-off-of-us-sales-than-rest-of-the-world-combined/
BY Sharon Zhang, Truthout
PUBLISHED October 1, 2021
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Anew analysis by Public Citizen found that the U.S. is spending nearly double what the rest of the world spends combined for key drugs. The report offers further evidence that the country is in dire need of pharmaceutical drug price reformation, which progressives are fighting for through the Build Back Better Act.
The report finds that, for the 20 top-selling drugs worldwide, U.S. sales totaled $101.1 billion, while sales of the same drugs to the rest of the world totaled almost $57 billion in 2020. For 11 of the drugs, revenue in the U.S. was double that of the rest of the world combined. And for 11 of the 13 pharmaceutical companies that sell these drugs, U.S. profits made up most of their revenue.
For some of the drugs, the analysis found an egregious revenue difference. For Biktarvy, an HIV medication produced by Gilead Sciences, the U.S. sales revenue was five times the rest of the worlds’ revenue; for AbbVie’s Humira, which treats autoimmune diseases, four times greater; and three times greater for drugs like Type 2 diabetes medication Trulicity.
“Americans spend far too much on prescription drugs,” reads the report. “This analysis of the billions more in revenue that pharmaceutical corporations make from the U.S. compared to the rest of the world offers a glimpse of how much these businesses benefit from the American health care system overpaying for drugs.”
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