, whose list price has risen from $244 to $431 since 2013, according to the committee.
, R-Iowa, the committee's chairman."I've heard about people skipping doses of their prescription drugs to make them last until the next paycheck.""I think you and others in the industry are stonewalling on the key issue, which is actually lowering list prices," he said."Lowering those list prices is the easiest way for consumers to pay less at the pharmacy counter.
Several of the CEOs, under pressure from Grassley, said they would lower their list prices if that proposal is finalized and the rule applied to both government and commercial prescription drug plans. However, they said they don't want to see the government negotiating drug prices directly through Medicare, a proposal that has been"The government should not directly control the price of medicines either through federal government price controls or worse, outsourcing prices to other countries," Brandicourt said.of their products don't reflect what they actually make on those products, drugmakers have consistently enjoyed some of the highest profit margins of any industry.
"We need an American solution to this American challenge," said Taubert of Johnson & Johnson's Janssen unit.
EdSkipper EndBigPharma
Bro it's called capitalism, there's a reason money is all powerful in our society
The high cost are their advertising budgets. Why is the US and NZ the only two countries who allow direct to consumer advertising? Does NZ also have exorbitant drug prices?
We need 1. True transparency-all costs on the table for all to see & 2. True competition. The restrictions that keep players out of the marketplace form the foundation for excess profits.
...but our research costs...LIVES
Absolute Gaslighting CEO’s claim if congress puts any controls in place it would risk R&D You mean the R&D the taxpayers fund through the NIH? You mean that funding that never translates into lower drug costs - just profits for big pharma?
Why would they? Our system rewards profit-making above all else. Shareholders need value and executives exorbitant remuneration lest it be perceived as socialist endeavor...
Big Pharma is a joke and it's a rip off
If I could charge whatever I want for my product devoid of any regulation or ramifications... I would- welcome to the world of U S pharmaceutical sales
They seem to think that you need their drugs to survive, so why not take advantage, you need the med right...
The keep changing the composition of the brand meds so the generic drug seem less effective. Of course, it's competition, profit, greed
They have a lot of political support and lobbying power. They charge a price on living, just as most Drs. But the govt allowed this!!!
Told PFE colleagues a decade ago, when US gov't pays 50% of drug costs, it won't negotiate pricing, but dictate pricing.. - 7 drug firm CEOs forced to defend industry pricing and business practices on Capitol Hill; criticized for 'profits before patients'
They did poorly, giving lousy excuses for their actions. Sadly they are also major influence peddlers paying billions in bribes/campaign donations that allow them to do whatever they want.
Capitalism 101.
Greed...what ELSE is new? Glad to see how 'well' the Free Market is 'working' t lower healthcare cost overall!
Annddddddd nothing will come of it. Absolutely nothing.
been a hippister.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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 »
Source: MarketWatch - 🏆 3. / 97 Read more »
Stocks fight to gain altitude as investors watch Powell’s Senate testimony, weigh dataU.S. stocks on Tuesday pare early losses and attempts to break in to positive territory as Federal Reserve Chairman Jerome Powell reiterates the central bank’s newfound wait-and-see approach in congressional testimony. Who chose this picture?
Source: MarketWatch - 🏆 3. / 97 Read more »