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New York Post
a day ago
- Health
- New York Post
Doctor exposes shocking disparity in medicine costs between the US and Australia
A doctor has exposed the shocking reality for Americans who are forced to pay up to tens of thousands of dollars for vital medicines that some Aussies fork out less than $10 for. Doctor Michael broke down the price discrepancies between five common medications in the United States, Australia and Scotland to his more than 500,000 followers on TikTok. Watched more than 2.7 million times, he started the video on a salbutamol inhaler, a puffer for asthma sufferers, costing about A$10, while it is US$50 in the states. A doctor has revealed the shock costs of five common medicines in the US, Australia and Scotland. One medication will set back Americans up to $84,500. 4 A doctor has revealed the shock costs of five common medicines in the US, Australia and Scotland. Nikish H/ – Atorvastatin, a medication to lower cholesterol and prevent cardiovascular disease, is priced as little as A$6.70 for 30 tablets in Australia, compared to US$2,628 for Americans. Next was Omeprazole, used for treating stomach acid, heartburn and reflux, costs A$6 in Australia and up to US $326 in the US. While Azithromycin, an antibiotic to treat bacterial infections, can set Americans back US$155, while many Aussies pay just A$7.70. However, the biggest shock was Sofosbuvir, which treats hepatitis C, with a 12-week treatment roughly costing an eyewatering US$84,000 without insurance and discounts. It equates to about US$1,000 a tablet, multiple US health websites reported. Meanwhile, it costs about $31 for a packet of 28 in Australia on the Pharmaceutical Benefits Scheme (PBS). Americans are facing much higher costs. There are no costs involved for all five medications mentioned in Scotland, Dr Michael said. 'Oh my god,' he said in reaction to the five-figure cost. 'See, in Scotland and Australia there's a socialist healthcare system which means that the government subsidises the cost of medications.' Commenters from around the world were left shocked. 'Aussie here, happy to pay extra tax to know that everyone can get medical care. It's a human right ffs,' one person said. 'America is one gigantic scam,' added another. 'People in Australia cry over tax we have to pay,' added a third. 'On the other hand, free hospitals, cheap medicine, cheap doctors, family tax benefit, aged care, unemployment benifits, aged pension, carer payments, meternity leave, farm house allowances, disability support, youth allowance. The list goes on. Australia looks after its citizens.' The medical practitioner's video came after President Donald Trump threatened a 200 percent tariff on imported drugs, one of Australia's largest exports to the US. 4 The medical practitioner's video came after President Donald Trump threatened a 200 per cent tariff on imported drugs, one of Australia's largest exports to the US. Tyler Olson – The commander-in-chief this week warned he may hike it a further 50 per cent. 'We'll be putting (an) initially small tariff on pharmaceuticals, but in one year, one-and-a-half years, maximum, it's going to go to 150 per cent,' he said in a CNBC interview on Tuesday. 'And then it's going to go to 250 per cent because we want pharmaceuticals made in our country.' Trump's fresh tariff threat It is feared President Trump's war on Big Pharma could have monumental consequences in Australia that could see billions wiped from the economy and the PBS caught in the crossfire. However, The Australian Institute's chief economist, Matt Grudnoff, urged caution and argued the leader of the free world himself was likely unsure of what he is going to do on pharmaceutical tariffs 'yet'. 'Some of the numbers he throws around, we know that even after well over six months now of talk about tariffs, he really hasn't nailed down exactly what they're going to be anywhere. This is something that I think will be off in the future,' Mr Grundoff told US President Donald Trump has threatened to slap 250 per cent tariffs on imported pharmaceuticals, a $2.2 billion export of Australia. He also stressed American consumers will be hit harder than Australians if any tariffs were to be applied, but Mr Grudnoff said the timing of it could be around the US midterms. 'If Trump imposes tariffs that increase the price of medicines in the US right before the midterm elections… I can't see that happening for political reasons if nothing else,' he said. 'I think that Republicans facing re-election will be very keen for that not to happen and also Trump has been… talking about decreasing medicine prices and (if) medicine prices go up, that might be quite difficult politically for him.' 4 He also stressed American consumers will be hit harder than Australians if any tariffs were to be applied, but Mr Grudnoff said the timing of it could be around the US midterms. bukhta79 – He said any levies on pharmaceuticals could have a 'slightly larger impact' compared to other industries and affect some of the largest medicine companies in Australia. The Albanese government ruled out making changes to the PBS to appease President Trump who has been urged to overhaul the 'discriminatory' scheme that 'undermines' US exports. Any alteration to the system may drive up prices of medicines in Australia. 'To be very clear, there seems to be very strong bipartisan policy in Australia (on) both sides that no, they're not going to use the PBS as a bargaining tool,' Mr Grudnoff said. 'There has been no indication yet that the Australian government would reduce pharmaceutical tariffs for higher US drug prices in Australia. I think they'd be crazy to do it. I don't think our trade with the US in pharmaceutical goods is anywhere near big enough to warrant the pain that would be caused in Australia by higher drug prices.' Both sides of government have ruled out any changes to the PBS amid President Trump's pharmaceutical tariff threat. Picture: NewsWire / Martin Ollman Prime Minister Anthony Albanese has previously said the PBS is 'not up for negotiation'. Last week the government introduced legislation to bring down the cap of eligible medicines on the PBS from $31.60 down to $25 from January 1 next year. Labor said it will save Australians about $200 million a year. PBS wait times a big concern, peak body warns The threat of President Trump's tariffs are less of a concern compared to the long wait times for medicines to be put on the PBS, a peak pharmaceutical research industry has said. Medicines Australia chief Liz de Somer warned Australians could die waiting for new life-saving medicines to be listed on the scheme Patients and advocacy groups say the complex process and excessive red tape involved is leading to unnecessary and long delays. 4 Patients and advocacy groups say the complex process and excessive red tape involved is leading to unnecessary and long delays. Tiktok/@drmichaelsays A report this week found the average wait time from when a medication is approved by the Therapeutic Goods Administration to being listed is 22 months. It would see drugs costing hundreds to thousands of dollars drop to just over $30. 'Patients will die waiting for medicines to be listed,' Ms de Somer said. 'And this will have a far greater effect on the Australian system than anything else.' A review of the PBS system was completed by the Health Technology Assessment and handed to the federal government last year, making a series of recommendations to improve speed. Health Minister Mark Butler has said the review will help guide the Albanese government on future decisions on reform. 'The Albanese government is continuing to make medicines available to Australian patients faster and cheaper,' he said. 'We know patients want faster access to cutting-edge medicine and treatments. 'That's why our government is working through the recommendations of the HTA review, so Australians can get faster access to the best medicines and therapies, at a cost that patients and the community can afford.'
NDTV
29-07-2025
- Health
- NDTV
Illegal, Unlicensed Medicines Worth Rs 1.3 Crore Seized from Delhi Flat
The Delhi Drugs Control Department on Tuesday seized unlicensed medicines worth over Rs 1.3 crore from a flat in Paschim Vihar. Officials said the drugs were being stored illegally for sale. The raid was carried out by a special enforcement team following a tip-off to the department's intelligence wing about unauthorised drug storage and distribution from the address. "We found a huge stock of prescription drugs stored without any documentation. The person present couldn't produce a single valid licence," an official involved in the raid told NDTV. The medicines found at the location included several widely prescribed drugs, such as: Omeprazole (Omez), Ketorolac (Ketorol-DT), Glimepiride (Amaryl), Dapagliflozin (Forxiga), Calcitriol with calcium (Bio-D3 Plus), Foracort inhalers (200/400 strength), Vildagliptin with metformin (Jalra-M), Sitagliptin with metformin (Janumet), Febuxostat (Furic 40), Telmisartan (Telista 40), Most of the medicines were from established pharmaceutical companies and are used to treat diabetes, blood pressure, arthritis, and gastrointestinal issues. Random samples have been sent for lab testing, while others were forwarded to the manufacturers to check for authenticity. The remaining stock has been seized and placed under court-approved custody. Supply Chain Being Probed Officials suspect a larger network behind the illegal operation. The source of the stock and its intended buyers are now under investigation. "This wasn't a retail pharmacy or warehouse. It was a residential address with a full-fledged inventory meant for sale," the official added. Delhi Health Minister Dr Pankaj Kumar Singh said search and seizure operations are being intensified. "The Delhi Government has zero tolerance towards illegal and unlicensed drug operations. Stern action will be taken against those dealing in fake or expired medicines. We are intensifying search and seizure operations across the city, and this enforcement drive will continue to protect citizens from such unethical practices," he said. Officials said more raids could follow as the department tracks links across the supply chain.
Yahoo
05-02-2025
- Business
- Yahoo
Proton Pump Inhibitors (PPIs) Market to Grow by USD 819.5 Million (2025-2029) with Drug Reformulation Boosting the Market, Report on How AI is Redefining Market Landscape
NEW YORK, Feb. 5, 2025 /PRNewswire/ -- Report with market evolution powered by AI - The global proton pump inhibitors (PPIs) market size is estimated to grow by USD 819.5 million from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of 4.7% during the forecast period. Reformulation of drugs is driving market growth, with a trend towards growing geriatric population. However, increasing lawsuits against PPIs poses a challenge. Key market players include Amgen Inc., AstraZeneca Plc, Aurobindo Pharma Ltd., Bausch Health Companies Inc., Bayer AG, Cipla Inc., Dr Reddys Laboratories Ltd., Eisai Co. Ltd., Eli Lilly and Co., Glenmark Pharmaceuticals Ltd., Johnson and Johnson Inc., Perrigo Co. Plc, Pfizer Inc., RedHill Biopharma Ltd., Sanofi SA, Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., The Procter and Gamble Co., and Zydus Lifesciences Ltd.. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF Proton Pump Inhibitors (PPIs) Market Scope Report Coverage Details Base year 2024 Historic period 2019 - 2023 Forecast period 2025-2029 Growth momentum & CAGR Accelerate at a CAGR of 4.7% Market growth 2025-2029 USD 819.5 million Market structure Fragmented YoY growth 2022-2023 (%) 4.4 Regional analysis North America, Europe, Asia, and Rest of World (ROW) Performing market contribution North America at 35% Key countries US, Germany, China, Canada, UK, India, France, Japan, Brazil, and UAE Key companies profiled Amgen Inc., AstraZeneca Plc, Aurobindo Pharma Ltd., Bausch Health Companies Inc., Bayer AG, Cipla Inc., Dr Reddys Laboratories Ltd., Eisai Co. Ltd., Eli Lilly and Co., Glenmark Pharmaceuticals Ltd., Johnson and Johnson Inc., Perrigo Co. Plc, Pfizer Inc., RedHill Biopharma Ltd., Sanofi SA, Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., The Procter and Gamble Co., and Zydus Lifesciences Ltd. Market Driver Proton Pump Inhibitors (PPIs) are popular acid-suppressing medications used to treat various acid-related disorders, including gastroesophageal reflux disease (GERD), peptic ulcers, and other digestive issues. These medications work by reducing the production of stomach acid, targeting the gastric proton pump. The market for PPIs is on the rise due to an aging population, sedentary lifestyles, poor dietary choices, irregular eating patterns, stress, and obesity. Key players in the market include branded PPIs like Omeprazole, Lansoprazole, Esomeprazole, Rabeprazole, and Pantoprazole, as well as generic versions. Healthcare investment is booming in this area due to the growing demand for pharmaceutical solutions for gastrointestinal health. However, safety concerns and the availability of over-the-counter (OTC) drugs and hospital pharmacies present challenges for branded PPIs. The use of molecular biology, genomics, artificial intelligence, and big data analytics in the development of personalized medicine approaches is a trend in the industry. The World Health Organization has set guidelines for the use of PPIs, and regulatory bodies are closely monitoring safety concerns. The market is expected to grow significantly in the coming years due to increasing healthcare expenditure, a middle class with disposable incomes, and the availability of various drug formulations, including oral and injectable options. Direct-to-consumer advertising and the availability of PPIs in retail pharmacies and drug stores are also contributing to the market's growth. The aging population is a significant driver for the global Proton Pump Inhibitors (PPIs) market due to the increased prevalence of gastroesophageal reflux disease (GERD) and acidity with age. The esophageal sphincter, which prevents stomach acid from flowing back into the esophagus, weakens with age, leading to heartburn and acid reflux. Additionally, the digestive system slows down, further contributing to acidity. As the population ages, the incidence of these conditions is expected to rise, boosting market growth for PPIs. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges Proton Pump Inhibitors (PPIs) market is witnessing significant growth due to the rising prevalence of acid-related disorders, particularly gastroesophageal reflux disease (GERD). Acid secretion is a natural process, but its excess can lead to conditions like peptic ulcers and acid reflux. PPIs inhibit the gastric proton pump, reducing stomach acid production. The market faces challenges from poor dietary choices, sedentary lifestyles, stress, and an aging population. Middle and upper-class populations with disposable incomes are major consumers, driving healthcare expenditure. Molecular biology, genomics, artificial intelligence, and big data analytics are transforming PPI development. Branded PPIs like Omeprazole, Lansoprazole, Esomeprazole, Rabeprazole, and Pantoprazole dominate the market, but safety concerns and generic versions pose challenges. The WHO recommends personalized medicine approaches for effective therapy. Dexlansoprazole is available in oral and injectable forms for various indications. Obesity, irregular eating patterns, and sedentary work cultures further fuel demand. Direct-to-consumer advertising and retail pharmacies/drug stores expand accessibility. Patents, hospital pharmacies, and OTC drugs also impact the market dynamics. Despite challenges, the future of PPIs lies in pharmaceutical solutions for gastrointestinal health. The Proton Pump Inhibitors (PPIs) market is currently facing legal challenges due to allegations that certain PPIs, such as PREVACID and DEXILANT, cause kidney injuries. Plaintiffs claim that manufacturers, including Takeda Pharmaceuticals, failed to adequately warn consumers about the potential risks. The FDA requested the withdrawal of all ranitidine products due to the potential formation of NDMA, a carcinogen, during storage and distribution. Other PPI manufacturers, including AstraZeneca, Pfizer, and Procter and Gamble, are also facing similar lawsuits. These developments may impact the market growth and consumer trust in PPIs. Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This proton pump inhibitors (ppis) market report extensively covers market segmentation by Product Route Of Administration Geography 1.1 OTC PPIs- The over-the-counter (OTC) Proton Pump Inhibitors (PPIs) market has experienced significant growth in recent years due to the easy accessibility and affordability of these medications. OTC PPIs, such as PREVACID, NEXIUM, PRILOSEC, and Zegerid, are used for treating frequent heartburn by decreasing acid secretion in the stomach. Heartburn is a condition characterized by the backflow of stomach content into the esophagus, resulting in a burning sensation in the chest. OTC PPIs are intended for use for up to 14 days per year, according to the US Food and Drug Administration (FDA). The convenience of self-medication and cost savings associated with OTC PPIs have led to an increase in their usage. This trend is expected to continue, driving the growth of the OTC PPIs segment in the global Proton Pump Inhibitors market. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis Proton Pump Inhibitors (PPIs) are a type of acid-suppressing medication widely used for managing various acid-related disorders, including gastroesophageal reflux disease (GERD), peptic ulcers, and other conditions where reducing stomach acid secretion is essential. These medications inhibit the gastric proton pump, thereby decreasing the production of stomach acid. PPIs are available in various drug formulations, including oral and injectable, and are used to treat both prescription and over-the-counter (OTC) indications. Lansoprazole, Esomeprazole, Rabeprazole, Pantoprazole, and Dexlansoprazole are some common PPIs. The market for PPIs is driven by the growing prevalence of acid-related disorders due to poor dietary choices, sedentary work cultures, stress, and aging population. Personalized medicine approaches are also being explored to optimize the use of PPIs and improve gastrointestinal health. The healthcare investment in pharmaceutical solutions for acid-related disorders continues to grow, making PPIs a significant market segment. Market Research Overview Proton Pump Inhibitors (PPIs) are a type of acid-suppressing medication widely used to manage various acid-related disorders, including gastroesophageal reflux disease (GERD), peptic ulcers, and other digestive issues. These medications work by inhibiting the gastric proton pump, which in turn reduces stomach acid production. PPIs have become increasingly popular due to the aging population, irregular eating patterns, sedentary lifestyles, stress, and poor dietary choices that contribute to acid reflux and other GI health problems. The market for PPIs is significant, driven by the middle class with disposable incomes and rising healthcare expenditure. Molecular biology, genomics, artificial intelligence, and big data analytics are transforming the development of personalized medicine approaches for PPIs. Safety concerns, patents, and the availability of generic versions also impact the market dynamics. Branded PPIs include Omeprazole, Lansoprazole, Esomeprazole, Rabeprazole, and Pantoprazole, available in various formulations such as capsules, injectables, and OTC drugs. The market faces competition from hospital pharmacies, retail pharmacies, and drug stores. The World Health Organization the importance of addressing the global burden of acid-related disorders, making PPIs a crucial area of investment in pharmaceutical solutions. However, obesity and safety concerns remain significant challenges for the industry. Table of Contents: 1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation Product Route Of Administration Geography 7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@ View original content to download multimedia: SOURCE Technavio Sign in to access your portfolio
