The Hillary Clinton campaign has announced a new plan on Friday that was designed to prevent future drug price gouging by pharmaceutical companies. The plan is a response to the recent 500% price increase of the lifesaving product EpiPen, which has been on the market a long time.
The increase in prices on older yet popular drugs happens quite often. Last year pharmaceutical executive Martin Shkreli caused an outrage after increasing the price of a drug administered to HIV patientsby 5,000% with no reasonable justifications.
Hillary Clinton’s plan promises to battle such executive decisions to help and create a balance between the product provider, insurance companies and patients. According to the plan measures such as fines and the threat of importing alternative treatments will be implanted in response to price gouging.
Some have criticized the plan. According to Steve Pearson, president of the Institute for Clinical and Economic Review, “In general, the idea of a patient protection initiative, based inside the government, looking at information and judging whether pricing is reasonable or unreasonable is likely to be viewed by Pharma as having the potential to be overused or misused,” he explain to the Washington Post.