Competition Not Always Competitive In Big Pharma
More competition leads to better products and lower prices for customers, right? Not always. As it turns out, this common axiom isn’t so common when it comes to pharmaceuticals in the US. If you’re wondering why US prescription drug spending has increased ~10% annually for the past few years, big pharma’s non-competitive, tandem drug price increases have been a big factor.
Let me explain how it works, using Viagra (sildenafil) and Cialis (tadalafil) as an anecdote. These drugs, manufactured by Pfizer and Eli Lilly respectively, have been market leaders in erectile dysfunction (“ED”) medicine for years. They also have increased in price in systematic way. Five years ago, a common prescription for six pills of either drug cost ~$150. Now, that same prescription costs ~$300. How prices have increased is particularly interesting – in the most recent occurrence, Pfizer raised Viagra’s price by 13% in June. Less than 1 week later, Eli Lilly raised Cialis’ price by exactly the same percentage. Hmmmm….
So how do you fight back? One way is to buy medicines at places such as WellNow with a stated commitment to fair and transparent pricing. If you’re in the market for ED drugs, a 10 pill sildenafil prescription is just $40 ($4/pill vs. $50/pill). All our prescriptions sell for less than $40 and many for under $20. So check out WellNow and fight back against big pharma’s non-competitive pricing tactics.