COLUMBUS, Ohio--(BUSINESS WIRE)--The independent Kaiser Health News (KHN) reports that the drug industry’s huge “Go Boldly” public relations campaign to paint itself as a good guy is bold alright - boldly misleading. KHN reports that the industry 1) low balls the cost of retail drugs, saying they account for only about 10 percent of healthcare costs when the real number is closer to 25 percent; 2) it exaggerates the cost of developing new drugs by a whopping 350 percent; 3) it has “cheered too loudly” about how it has moderated price increases – which even in the best years are twice the inflation rate; 4) it applauds how generics lower drug prices while often using illegal tactics to keep generics from consumers; and 5) it overstates the value of new drugs it is inventing when, in fact, many are just old drugs with new bells and whistles. A must read.
Source: Kaiser Health News via Huffington Post.
Background on Ohio Ballot Issue 2
The Yes on Issue 2 campaign is a broad-based, bi-partisan coalition. More than 200,000 Ohio voters signed petitions to put an amendment on the ballot in November that will lower drug prices for over 4 million Ohioans, including 164,000 children, save taxpayers $400 million annually, reduce healthcare costs for everyone and teach greedy drug companies and their CEOs a lesson.
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