Their patents depend upon research to develop new medications. These three studies show that an unfair pricing system penalizes seniors and others who lack clout. The irony is that the 39 million Medicare beneficiaries are so numerous that they could command similar discounts. This legislation would use the negotiating power of the federal government to secure Medicare beneficiaries the same discount other favored customers get, a savings for seniors of about 40 percent. The drug industry is the most profitable in the nation.
Seniors are among their biggest customers.
It is time for drug manufacturers to stop hiding behind a pricing system that serves to exploit the vulnerability of the elderly.