Leaders of seven top drug companies told lawmakers this week that Americans should be grateful for their work, even if patients pay “some of the highest prices in the world."
But the bottom line is that drug makers typically set list prices for their products that far surpass research and development costs, and that represent first and foremost a desire to bleed as much money as possible from people coping with life-threatening or chronic illnesses. They’ve also insisted that patients seldom face the full list price for drugs, paying instead lower prices negotiated by benefit managers and insurers, or prices subsidized by the industry’s own discount programs.
The leaders of Sanofi and Bristol-Myers were joined by their counterparts from Johnson & Johnson, Merck, Pfizer, AbbVie, and AstraZeneca. There’s a reason many lawmakers pull their punches with these guys. Since 2016, the drug industry has made more than $100 million in political contributions to both parties, with Republicans enjoying a slight lead over Democrats, according to theThe industry also spent more than $280 million on lobbying last year. And guess what? Some of the top recipients of pharmaceutical cash sit on the Senate Finance Committee.
Davidlaz The reps' repeatedly said the high costs of R&D is behind the ridiculously high cost of prescription drugs. I think, we should remind corps that DARPA created the internet and reintroduce shared value creation. swerve
Davidlaz Nice guys !
Davidlaz Arrogant highway robbers!
Davidlaz This nation has a disease. Evil people who rationalize their greed, ego and criminality. It's always been there, but now it rules the worlds of fiance, business, education and worst of all, our elected leaders. God help us.
Davidlaz LoL
Davidlaz No, It’s all about high prices. We’re covering their advertising costs. The “R&D” angle is total bullshit save for a small percentage of drugs.
Davidlaz This phrase by Davidlaz sums it up: '...this week’s Senate Finance Committee hearing on drug prices, which saw the heads of seven top pharmaceutical companies depicting themselves as deeply misunderstood humanitarians who just want to help people.'
Davidlaz Everyone knows we can get most all meds for half or less from Mexico. So why is the price so high here? Ask the fda. You won’t. It’s to much work.
Davidlaz This wouldn't be a problem if most MDs weren't legalized drug dealers, they over prescribe , the solution is prevention and education, no one has a prozac deficiency but they may need amino acids and magnesium to balance out a neurotransmitter deficiency and stressed adrenals!
Davidlaz The pharmaceutical industry should be nationalized, along with the rest of healthcare.
Davidlaz BigPharnaBigLobbying Big OilBigLobbying BigInsuranceBigLobbying BigChemicalBigLobbying BigTelecomBigLobbying BigNRABigLobbying BigFarmsBigLobbying ANY Questions who owns the GOP?
Davidlaz
Davidlaz Echos of tobacco CEOs saying they believe cigarettes are not addictive. Just because PHARMA job requires blatant lies with straight face doesn't mean we give them an iota of credence. They are happily screwing their customers, they know it, and they plan to continue to do it.🤬
Davidlaz Only the wealthy would be grateful if only the wealthy can afford pharmaceuticals.
Davidlaz Thought this was an Onion headline.
Davidlaz That's pure, unadulterated bullshit!
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: NPR - 🏆 96. / 63 Read more »
Pharmaceutical Industry CEOs Face Senate Hearing on Drug PricesExecutives for some of the biggest drug companies will visit Capitol Hill on Tuesday to face tough questions in a Senate hearing on the rising cost of medicines. The drugs are too damn high. And so............ let the divorce wars begin! They’ve already started up with this bulls*** (I’ve been hearing the same line blaming everything on PBM’s, with suspiciously similar phrasing, crop up in discussions about drug prices) however bad PBMs are it’s the drug companies who are making gazillions by gouging patients.
Source: WSJ - 🏆 98. / 63 Read more »
Live Analysis: Drug-Company CEOs Take the Hot Seat Before CongressRising drug prices will be in the spotlight as pharmaceutical industry executives testify before the Senate Finance Committee, where lawmakers are expected to ask executives from firms such as Merck and Pfizer about their pricing practices and other issues. They got a free ride & red carpet rolled out under the obama administration. Na sala de aula Like the tobacco CEOs, pharma bosses are making promises and claims they will come to regret as Americans crack down on those who extract massive profits from the sick.
Source: WSJ - 🏆 98. / 63 Read more »
Source: politico - 🏆 381. / 59 Read more »
Source: WSJ - 🏆 98. / 63 Read more »