Drug Maker Plans Needy Program
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NEW YORK — Bristol-Myers Squibb Co. said Thursday that it will give away cardiovascular drugs to the needy, the latest goodwill gesture by drug makers toward Americans who cannot afford proper health care.
The announcement comes amid increasing scrutiny of the pharmaceutical industry, which critics say profits enormously from expensive drugs that only the insured and the wealthy can afford. Some drug prices have increased by 20% and more annually in recent years, many times the rate of inflation.
Bristol-Myers Squibb’s program, which will make 17 drugs available beginning March 1, is expected to provide tens of millions of dollars worth of medication over the next five years, said Bruce Ross, president of the company’s U.S. pharmaceuticals group.
To preempt efforts by lawmakers to regulate price increases, many drug manufacturers have been making their products more accessible.
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