Keep drug prices affordable
This petition made change with 76,486 supporters!
Pharma giant Pfizer just announced its 2015 earnings. Topping off at nearly $50 billion, business looks to be in good shape. On top of that, Pfizer made a deal in 2015 to move its operations to Ireland, which will allow it to dodge billions in taxes. Again, business is good. But still, amazingly, Pfizer just chose to raise the U.S. price of 105 of its drugs by up to 20%.
I’m a biomedical engineer, and know firsthand how important these drugs are for so many people. But we all do -- It’s safe to say that everyone in the U.S. knows someone who uses a Pfizer product, from cholesterol medication to heartbeat regulators, antibiotics to painkillers. Some of the increases will add thousands of dollars to the cost of already expensive drugs. Countless people will be forced to choose between their health and their family’s financial security.
This is bad business. Americans are taking note of this greed, and we will not stand for it. Please join me in demanding that Pfizer immediately reverse this price hike and make a commitment to providing affordable medication to all who need it.
A particularly shocking example of these price hikes is Ibrance, a groundbreaking breast cancer drug that launched last year at the staggering price of $9,850 per month, or $118,200 per year. Pfizer is now increasing that price by another 5%. This is a life-saving medication, and the increase far surpasses inflation. How can Pfizer justify this?
Presidential candidates on both sides have attacked drug prices. Pfizer’s move to Ireland, which will cost the American government billions in lost tax revenue, has been condemned by President Obama as “unpatriotic.” Yet, none of these influential people were able to stop the price hikes, a sign that Big Pharma has way too much power over us and our ability to access life-saving medication.
Martin Shkreli became the face of pharmaceutical greed last year after his company raised the price of a lifesaving cancer and HIV drug by 5,000 percent. People were outraged, and Shkreli ultimately lost his position as CEO. But he’s not the only villain in the game. Pfizer is the latest to carry Shkreli’s torch, and put the health, and survival, of Americans at risk in the name of greed.
Please, let’s call on Pfizer to immediately reverse these latest price hikes. Together, we have the power to say no to exploitative business practices.
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