Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
The public believes research costs and industry profits are both big factors in drug pricing — a perception that's pretty well aligned with the reality of where pharma's money goes.
By the numbers: The Kaiser Family Foundation's latest tracking poll asked respondents to identify the "major factors" contributing to high drug prices. They could pick more than one.
- 80% said industry profits are a major factor.
- Smaller-but-still-pretty-big majorities cited the factors that drugmakers usually point to instead.
- 69% identified research costs as a major cost driver, and 63% put "major" responsibility on pharmacy benefit managers.
On balance, the public seems skeptical of pharma.
- Most people — 71% — said they trust drug companies to come up with new and effective drugs, and to be honest about those drugs' safety and effectiveness.
- But just 25% said they trust the industry to price its products fairly.
Yes, but: This poll also indicates that drug prices aren’t a problem for most people.
- 75% said it's easy to afford their prescriptions, and 45% said they pay less than $25 per month. Unsurprisingly, poorer people and those in worse health had a harder time covering their bills.
Go deeper: Pharma's research budgets are usually bigger than its profits