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Drug Companies Are Bankrupting Social Security

On December 23, 2011, in News, by George Hunt

Seroquel is a pharmaceutical that relieves bi-polar symptoms. The drug is patented by AstraZaneca, a United Kingdom drug manufacturer. The retail cost for one pill in the United States is $9.66 for the branded product. No generic tablet is presently available in the U.S.. That’s a lot of money for one pill but when I bought them in Europe and Canada they provided me with a perfectly-fine generic equivalent for Seroquel for only $1.37.

What’s going on here? Why are U.S. price so high? First, a generic equivalent is not available in the U.S.–even though the rest of the world purchases the pills at retail for less than $2,00. I researched this anomaly further and learned that the powerful pharmaceutical industry allegedly bribes Congressmen with large speaking honorariums or other good works. They also contribute millions to Congress’s “blind trusts” (which we are led to believe that our Congress persons are not permitted to see or know about). Congress supports the drug companies and the drug companies support the Congressmen. Such behavior is criminal but since all parties are playing ball with each other their crimes are not mentioned by mutual consent.

Where does Social Security fit into this scheme? The huge difference between $9.66 per pill and $1.37 per pill is sucked out of our Social Security funds for Medicare patients. If Medicare is not involved, large profits at retail are realized for Walgreen, Rite-Aid, etc., if the patient is paying the regular $9.66 price instead of the $1.37 price.

The drug companies are actually on a campaign right now to make Congress vote to forbid the purchase of foreign-dispensed drugs. Canada is the biggest source of mail-order drugs with 85 percent of the market followed by Mexico with most of the remaining balance. Congress could do the bidding of the drug merchants and vote against foreign-provided drugs BUT on the proviso that the United States will not pay more for pharmaceuticals than the rest of the world. Such an act would help preserve the Social Security system longer for our generation and the next plus save U.S. citizens lots and lots of money at retail.

Yours Truly, George W Hunt