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How Big Pharma Pursues Killer Profits at Americans Expense — Strategic Culture

February 2, 2021 © Photo: Wikimedia “Instead of spending on innovation, Big Pharma is hoarding its money for salaries and dividends,” the report says, “all while swallowing smaller companies, thus making the marketplace far less competitive.”  By Brett WILKINS Rep. Katie Porter (D-CA) on Friday published a damning report revealing the devastating effects of Big Pharma mergers and acquisitions on U.S. healthcare, and recommending steps Congress should take to enact “comprehensive, urgent reform” of an integral part of a broken healthcare system. The report, entitled “Killer Profits: How Big Pharma Takeovers Destroy Innovation and Harm Patients,” begins by noting that “in just 10 years, the number of large, international pharmaceutical companies decreased six-fold, from 60 to only 10.”

Ron Klink: Right and wrong ways to address drug prices

TribLIVE s Daily and Weekly email newsletters deliver the news you want and information you need, right to your inbox. In what may have been the last significant action of his presidency, President Trump issued two executive orders designed to lower prescription drug spending in Medicare. The first order would eliminate the current system of “rebates” for prescription drugs covered by Medicare Part D. The second order, dubbed the “Most Favored Nation” model, ties Medicare payments for advanced medicines covered by Medicare Part B think chemotherapy infusions and other physician-administered medicines to the lowest prices paid by governments abroad. The “rebate rule” will reduce out-of-pocket drug costs for American patients. The “Most Favored Nation” model will reduce access to advanced medicines today and deprive American scientists of research dollars tomorrow.

With a new president and a new Congress, it s time for Medicare drug price negotiation

For years, pharmaceutical companies have been putting profits first, and the public good second. The new president and the 117th Congress must seize this moment to reverse Big Pharma’s price gouging and put the public good first.

MEMO TO MEDIA: Democratic House Majority in the 116th Congress: A Record of Results For the People

MEMO TO MEDIA: Democratic House Majority in the 116th Congress: A Record of Results For the People
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