It’s no secret: Americans are getting fleeced on prescription drugs. We fork over three times more than folks in other countries for the same meds while Big Pharma makes massive profits. Yet President Biden’s modest attempt to address this travesty with a list of 10 drugs up for Medicare price negotiations through the Inflation Reduction Act has the drug industry seething.
Few practices have generated as much controversy and debate in recent years as that of companies inflating their stock prices by repurchasing shares of their own stock from the open market – stock buybacks, as they are called. Lazonick, who has been at the forefront of the debate, has long warned that buybacks come at a significant cost to innovation and long-term growth.
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