In November 2021, Pfizer reported annual profits of $21.98 billion on revenues of $81.29 billion for 2021, with COVID-19 vaccine sales of $36.7 billion accounting for 45% of total company revenue. The COVID-19 vaccine became one of the most financially successful pharmaceutical products in history, …
In January 2017, diabetes patients filed a federal antitrust class action lawsuit alleging that the three pharmaceutical manufacturers controlling 99% of the U.S. insulin market—Eli Lilly, Novo Nordisk, and Sanofi—conspired to raise insulin prices in near-lockstep coordination, increasing prices by …
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In August 2016, Mylan CEO Heather Bresch faced intense scrutiny when it was revealed that EpiPen prices had increased from approximately $103 in 2007 to over $608 by 2016—a nearly 550% price increase for a life-saving allergy treatment. The scandal exposed pharmaceutical price gouging, the failure …
In September 2015, Turing Pharmaceuticals under CEO Martin Shkreli purchased the American marketing rights to Daraprim (pyrimethamine) and immediately raised the price from $13.50 to $750 per pill—a price increase of over 5,000%. The move became a symbol of pharmaceutical price gouging and exposed …
Martin ShkreliTuring Pharmaceuticalshealthcarepharmaceutical-price-gougingcorporate-crimeregulatory-capture