September 27, 2024
According to the report, Americans pay the highest prices in the world for prescription drugs.
As prescription costs continue to soar, Americans find it increasingly difficult to afford their medications. A new report finds Black Americans are disproportionately affected by these price hikes.
Patients for Affordable Drugs, an organization that advocates for affordable healthcare, released a report this month that showed price increases for 1,000 prescription drugs this year. Almost half of the prices were above the rate of inflation.
The research showed that one-third of Americans cannot afford their prescriptions. According to the report, Black and Latino patients aged 65 were most likely to report difficulty in paying for their medications.
Enhertu is a drug used to treat HER2-negative breast cancer, a form of cancer found primarily in Black women. The drug’s manufacturer raised the price of the drug eight times since 2019, the latest increase bringing the cost of the drug to more than $2,800 per month.
Revlimid is used to treat multiple myeloma, which rose by 7%. According to the report, Black Americans are more likely to be diagnosed and die from the condition.
Patients for Affordable Drugs’ Executive Director Merith Basey says that these price increases impact people of color the most.
“Black and Latino families are more likely to suffer from chronic conditions and certain cancers … that do require those long-term, very expensive drugs,” Basey told NBC News.
“A lot of that is also linked to racial disparities in healthcare that have been well documented due to systemic racism,” she said.
Organizations like Patients for Affordable Drugs and Health Care for America Now are pushing for policies that will lighten the financial load for many Americans. The Inflation Reduction Act, a law signed by President Joe Biden, strives to reduce prescription drug prices.
Health Care for America Now’s Executive Director Margarida Jorge critiqued the healthcare industry for the way they have handled conditions that disproportionately affect minorities.
“We’ve known about sickle cell anemia for many, many, years,” Jorge said to NBC News, “but there hasn’t been much attention to really getting down to the business of trying to cure sickle cell anemia with a drug that is affordable to regular people — and I think it has a lot to do with the fact that it’s a Black disease,” she told the outlet.
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