Why Our Problem With Drug Pricing Goes Way Beyond Shkreli

Pramod John

LinkedIn, 07/15/2016

Over the past few months, many of us have heard of the abuses surrounding Martin Shkreli (who is in the news again after a judge set a 2017 trial date for his securities fraud case) and separately, Valeant Pharmaceuticals, which was recently under fire for drug price increases. What we haven’t heard is that these sensationalized cases are truly insignificant when compared to the enormity of the problem facing America. Only a few years ago, specialty drugs comprised a reasonable sounding 10% of our overall drug spend. Last year, it bloated to 38% and by 2018, it will be an astounding 50%, which is an increase of $70 million … a day.