The 11 largest drug companies have made $711 billion in profits in just a decade, largely due to overcharging Medicare, which does not seek out competitive prices and uses taxpayer funds to support Big Pharma.
Since Medicare is prohibited from purchasing drugs based on their cost, its prescription drug program has been making large payouts to drug companies that have overcharged the program for years, according to an analysis by Health Care for America Now (HCAN). Continue reading “Big Pharma made $711 bln overcharging seniors and disabled”