They have? According to testimony by Sanofi, even though list price have went up 126%, net price has actually gone down 25%.
https://www.finance.senate.gov/imo/media/doc/26FEB2019BRANDI...
net price =/= profit. The report also covers what exactly goes into the difference between gross and net price. If you can point out what the accounting tricks are, that'll be great.
Good thing it's covered in the report
>What about revenue?
Surely your accounting class tell you that rising revenue doesn't necessarily mean that "margins just keep climbing"
It’s particularly gross and brazen, even by pharmaceutical rent-seeking standards, to justify cocaine-like profit margins because large buyers can negotiate.
Insulin prices are driven by anticompetitive behavior. If you look at metformin, a generic drug treating the same disease, profit margins are tight, driven by competitive economics. A 90-day supply is < $10 retail.