(RepublicanReport.org) – Price gouging is a practice that involves drastically increasing the price of a product or service to take advantage of the person or entity who’s buying it. Vendors will always try to create the impression that their prices rise from supply and demand forces, so it can be challenging to prove, but most states do have some form of ban on price gouging. The federal government does not, though, and it looks like one pharmaceutical giant might actually be gouging the government itself.
Merck’s new drug Malnupiravir has proven itself highly effective in the treatment of COVID-19. The daily pill costs just $17.74 to produce, but the Biden administration is currently purchasing it at a price of $712. This is a markup of nearly 4000%.
(New Video): Merck Price-Gouging U.S. For Federally Financed Covid Pill
In this we discuss a new covid pill that could greatly reduce hospitalizations, but of course the united states is letting them up charge us 40x the cost of production. Insane. https://t.co/bTlrbwDlBL pic.twitter.com/wZaaIoeQSC
— Mac (@GoodPoliticGuy) October 6, 2021
Federal tax money was instrumental in the development of the drug, which complicates the issue. The Defense Threat Reduction Agency initially funded the project, with additional funding from the National Institute of Allergy and Infectious Diseases (NIAID), which Dr. Anthony Fauci leads.
Many senior liberals in Washington, such as Senator Bernie Sanders (I-VT), have loudly complained about Americans’ prices for pharmaceuticals. It appears, though, that this is only a problem when we pay for medicine directly. If the Biden administration does it on our behalf with tax money, should we be less concerned?
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