This episode explores the high cost of prescription drugs, particularly the cancer drug Revlimid, through the lens of investigative reporter David Armstrong's personal experience as a multiple myeloma patient. Armstrong details his diagnosis and subsequent research into the drug's pricing, revealing that while it costs approximately 25 cents to manufacture a pill, it sells for nearly $1,000. Against the backdrop of Armstrong's illness, the discussion pivots to the history of thalidomide, Revlimid's parent compound, and its transformation from a notorious cause of birth defects to a cancer treatment, highlighting the role of researcher Beth Womer in identifying its potential. More significantly, the conversation exposes how Celgene, the drug's manufacturer, exploited regulatory loopholes and safety programs to maintain a monopoly and raise prices, even in the face of internal objections. As the discussion pivots to broader issues, the conversation addresses why Americans pay more for prescription drugs than other countries, the role of pharmacy benefit managers, and the limitations of government interventions like executive orders and the Inflation Reduction Act. The episode concludes with Armstrong's reflections on the ethical implications of drug pricing and the need for greater transparency and research funding, emphasizing that while pharmaceutical companies deserve profit, the current system prioritizes stock buybacks and executive pay over patient well-being.
