The Evolution In Our Industry

As we move into 2016, it’s thought provoking to look back over the last few years in our industry and see how it has evolved. Of course, the big news today seems to be the massive price increases of previously inexpensive generic medications and the effect it has on the patient who has been taking them for years. Looking at this practice from “the inside”, it’s not a “new” phenomenon; it has been going on for years. Most amazing is that the regulators, insurance companies and politicians, long asleep at the switch, are just catching on. Moreover, flying under the radar, is the fact that the Big Pharma manufacturers of “branded” drugs, quietly continue to raise their prices, somewhere between 5 and 10%, usually twice a year, like clockwork. Not as flamboyant as the generic issue, but equally costly. Nothing I know of, including the paychecks of the people taking these medications, increase in value at that clip these days. It will be interesting to see if/when those at the “switch” start making this an issue with the same intensity as the generic matter, and how quickly Big Pharma responds.

- Kevin O' Leary