Friday, December 9, 2016

Pfizer Fined $100 millionn for Overcharging in the U. K. But Don't Worry

Company Says They Will Make It Up By Charging Higher Prices in the U. S.

News That Didn't Happen - But Probably Will

Unlike the U. S., the rest of the world limits the monopoly power of drug companies to charge outrageous prices for drugs.  So here's what happened in the United Kingdom.

LONDON—U.S. politicians are publicly bashing drug companies over high prices.
In Britain, regulators took the unusual step Wednesday of doling out a big fine against one of the world’s largest.
The U.K.’s top antitrust regulator slapped Pfizer Inc. with a record $107 million fine, alleging it overcharged the national health-care system for an epilepsy treatment.

Now $107 million sounds like a lot of money, but not to a drug company.  And besides, there's always the easy way for Pfizer to get that money back, just raise prices in the U. S. and let the sick, the weak, the insurance companies, the rest of us pay for it. 

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