Last Week Tonight with John Oliver Season 2 Episode 29 Episode 53

Last Week Tonight with John Oliver is a weekly news satire show on HBO. In season 2, episode 29 titled "Episode 53", John Oliver takes a deep dive into the world of pharmaceutical companies and the exorbitant prices of prescription drugs in the United States.

Oliver starts off the episode by pointing out the absurdity of the pharmaceutical industry's pricing practices. He highlights how drugs that cost very little to produce in countries like India are sold in the US for several thousand dollars per pill. He also talks about how Americans pay significantly more for prescription drugs than people in other developed countries.

Oliver then dives into the complex web of rules and regulations that govern how drugs are approved and priced in the US. He highlights how the FDA's regulatory process is often slow and expensive, which creates barriers for generic drug manufacturers to enter the market and drive down prices.

The episode also includes interviews with experts in the pharmaceutical industry, who shed light on how drug companies manipulate the system to maximize profits. One expert points out how drug companies often engage in "evergreening", the process of obtaining new patents for minor changes to existing drugs in order to extend their monopoly on the market and prevent generic competition.

Oliver also talks about the role of pharmacy benefit managers (PBMs) in influencing drug prices. PBMs are middlemen between drug companies and insurers, and their role is to negotiate lower drug prices on behalf of insurers. However, Oliver highlights how PBMs often engage in opaque and secretive practices that allow them to keep a percentage of the savings they negotiate, incentivizing them to keep drug prices artificially high.

The episode ends with Oliver proposing solutions to the problem of high drug prices in the US. He advocates for reforms to the FDA's regulatory process to make it easier for generic drug manufacturers to enter the market. He also proposes changes to the way PBMs operate, such as requiring them to disclose the prices they negotiate and prohibiting them from keeping a percentage of the savings they negotiate.

Overall, Last Week Tonight with John Oliver season 2, episode 29 is a thought-provoking and informative exploration of the pharmaceutical industry and the high cost of prescription drugs in the United States. Oliver's comedic and irreverent style brings levity to a serious topic, while also making it easier for audiences to understand and engage with the complex issues at hand.