If you think you’re paying a lot for prescription drugs, you’re right. Drug prices have been rising faster than inflation and Americans pay more for brand-name prescription drugs than anyone else in the world.
Why? Well, the drug companies and the government say we have to, so the companies can keep developing new drugs.
But that’s no consolation to the tens of millions of elderly and uninsured who can’t afford to pay for the drugs they need. Correspondent Bob Simon talks Dr. Peter Rost, a critic of the way drugs are priced and sold in the United States, who also happens to be a vice president of marketing for the pharmaceutical giant Pfizer.
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