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Posted April 20, 2002

William Faloon - The American Drug Cartel? April 2002 issue - Thanks to the partnership between the FDA and drug companies, Americans pay the highest prices in the world for medications:
"We knew 18 years ago that the drug regulatory system was riddled with corruption and launched a media blitz to expose it. ... Even after a drug goes off patent, it still costs too much money to obtain 'generic' approval from the FDA. These regulatory burdens strangle free market competitive forces and cause Americans to pay the highest prices in the world for their medications."
In his remarks at the Malcolm Baldrige National Quality Award Ceremony on March 7, 2002, President Bush touted the virtues of the American system of free enterprise. Yet, our economy is being sucked dry by powerful monopolies, not the least of which are the drug companies, whose vampiric bite gouges most those who can afford it least:
"Life Extension long-ago predicted that the exorbitant price of prescription drugs would bankrupt the U.S. health care system. A recent report from the Department of Health and Human Services says that health costs are continuing to climb faster, even though the economy has been weak.[4] As a result, it says, consumers will have to spend more of their own money on health care, and employers will be less able to afford health benefits."
Ironically, while the FDA colludes with drug companies to squeeze American consumers in the ever tightening grip of escalating drug costs, it rails against the relatively cheap nutritional supplements:
"The FDA tells consumers to beware of dietary supplements because they are not 'regulated,' yet regulated products kill over 100,000 Americans every year, and seriously injure over 2.1 million people."
Isn't this a little extreme? Doesn't the FDA protect us? Don't we pay such high prices because our prescription drugs are the best in the world? No. While certain departments within the FDA provide an invaluable service, the mark up on drugs in America is so huge as to go beyond mere price gouging.
For example, the cost of the active ingredient in 100 Celebrex 100 mg is 60 cents, but the average consumer price is $130.27. That's a mark up of almost 22 thousand percent. And it only gets worse from there:
"The astounding profit margin enjoyed by drug companies exposes several facts. First, it shows why the pharmaceutical industry is the most profitable of all businesses. But since large drug companies only make around 15% net profit margins, it also exposes the incredible cost drug companies bear to comply with today's burdensome drug approval system."
What can we do about this? First, we need to streamline the regulatory process. Consumers Against High Drug Prices is working toward that goal and needs your help. Second, we need to break the drug companies' monopoly. We can do that without filing a lawsuit or passing so much as one more law regulating the drug companies. All that is necessary is to allow Americans to freely fill prescriptions through pharmacies outside the United States.
But isn't it risky to buy drugs from a company that isn't regulated by our government? It can be, and the first rule in any purchase should be "buyer beware." But information is the best way to reduce the risk, and DrugBuyers.Com is a site that provides valuable information about online and overseas pharmacies. Ultimately, however, the answer is to actually put into practice the free enterprise system of which President Bush speaks so highly:
"Their objective is to mobilize millions of American citizens into a cohesive army that will force Congress to change the law so that a free market can emerge to obliterate the high cost of prescription drugs." - Life Extension Foundation.