Big Pharma BLASTED For 800% Price Hike On Diabetes Medication Glumetza

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Published on 4 May 2021, 15:00
Via America’s Lawyer: A federal judge warns drug manufacturers they won't be able to plea out of an 800% price hike on diabetes med. Mike Papantonio & Farron Cousins discuss more.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Finally tonight, some good news. A federal judge has warned several drug companies that they're going to have a hard time convincing a jury that 800% price hikes on a diabetes drugs was necessary. Farron Cousins joins me to talk about this. We have done so many stories on the idea that the pharmaceutical industry is raping the American public. And it's amazing. It's amazing. When we do one of these stories, you know, if we do a story well, you know, we hate Trump, there's going to be 200,000 people that show up for that. When we talk about something as important as this, there'll be 10, 15, 20,000 people. It's amazing that people aren't paying attention to this. Pick up the story.
I, I know. This is, this is crazy. And again, this is the result of a really good lawsuit, where they're saying, hey, these two pharmaceutical companies basically colluded together to keep generics off the market for a couple more years. And in the course of the discovery here, they realized like, well, hold up. Not only did you collude to keep generics off the market, you also kind of colluded to raise your prices by 800%, gouging consumers, instead of, you know, a couple dollars per pill to over $40 per pill. And you, the judge told them last week said, you do realize you're going to have to go in front of a jury and you're going to have to explain to them why you did that. And that's not going to help your case.
I, I, I don't do this very often. I've got, I just cracked up when I read the defense lawyers for these companies. This guy is Lev, his name is Lev L-E-I-V Blad. Okay. Leiv Blad. He says, well, there's no antitrust taking place here, judge. This is just good faith, deep business dealings among friends. He said that. The other lawyer, another defense lawyer says, judge, we just raised the price 800% because we thought it was in the, he really said, I swear to God, we just raised it 800% because we thought it was in the shareholders' best interest. You think? So the point being, this judge showed some courage and said, you know what, we're going to let you make these arguments in front of a jury. Let's see what the jury thinks at the end of the day. Right?
And that really is the best thing for the judge to do. Just sit there and say, listen, people are going to be paying attention to this case. And it's almost, you know, taunting them. Like, I, I want you to come out here and I want you to make that argument for everyone to hear and let's see what happens.
Yeah. Leiv Blad and David Marriott, I've got to, I've got, I want to be there for this argument in front of the jury. I don't think it's going to float.
Thank you for joining me.
Thank you.

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