The cost of a drug used to treat a rare liver disorder rose by more than 1,500 percent, according to Sanders’s office.
Senator Bernie Sanders (I-Vermont) speaks during a rally. Chet Strange / Getty Images
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The prices of almost 700 prescription drugs have increased since President Donald Trump took office, according to a report released today by Sen. Bernie Sanders (I-Vermont).
Twenty-five drugs have more than doubled in price, according to the report.
“Millions of Americans take one of the 688 drugs that have increased in price since Trump entered office in January of this year,” the report says. “More than one in three of the drugs are indicated for neurological disease, cancer, or cardiovascular disease.”
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The report notes that the administration’s One Big Beautiful Bill Act “is a multibillion-dollar giveaway to some of the largest pharmaceutical companies in the world,” adding that the legislation also “makes the largest federal health care cuts in history.”
“The cuts will make it harder for millions of Americans to afford prescription drugs as people lose coverage and face ballooning premium bills and rising out-of-pocket costs,” the report says.
In July, Trump sent letters to 17 major pharmaceutical companies directing them to lower prescription drug prices “within the next 60 days.” The letters told manufacturers that if they “refuse to step up,” the federal government “will deploy every tool in our arsenal to protect American families from continued abusive drug pricing practices,” as per the White House.
Almost 90 companies raised their prices after Trump sent out the letters, including four companies that had received the letters — Pfizer, Merck, Sanofi and Genentech, according to Sanders’ office.
“I agree with President Trump: it is an outrage that the American people pay, by far, the highest prices in the world for prescription drugs,” Sanders said in a statement. “But unlike Trump, I believe we need more than just press releases, polite requests to drug companies and pilot projects. We need real action to take on the greed of the pharmaceutical industry and substantially reduce the cost of prescription drugs for all Americans.”
Since January, Eton Pharmaceuticals raised the price of Galzin, which is used to treat a rare genetic liver disorder, by more than 1,500 percent, from $5,400 to $88,000 a year. The same drug costs $1,400 in the United Kingdom, as per the report. In May, Sanders introduced the Prescription Drug Price Relief Act, which would ensure Americans pay no more than people in other major countries for the exact same prescription drug.
Merck increased the price of the cancer medication, Keytruda, to $206,000 per year. Last year, Merck made more than $17 billion in profits and paid executives over $61 million, according to the senator’s office.