The chief executive officer of America ’s largest drug companies will testify on Capitol Hill today . But will U.S. senators really hold their foot to the fervour after taking so much money from those same drug companies ?
Starting at 10:15 am ET ( 7:15 am PT ) , the Senate Finance Committee will have the chance to question the CEO of Bristol - Myers Squibb , Johnson & Johnson , Merck , Pfizer , Sanofi , AbbVie , and AstraZeneca . A livestream of the testimonial will be available at the U.S. Senate Committee on Finance’swebsite .
Americans pay up the high drug damage in the earthly concern for utterly no good reasonableness . The drug companies will evidence you that it ’s because American consumers are financing “ innovation , ” but the real reason is that the U.S. does n’t haveprice control lawsthat bound what drug companionship can tear , unlike much of the world and every wealthy land . And U.S. senators , both Republicans and Democrats likewise , are each run down in thousands of dollars every year from the pharmaceutical manufacture .
The drug companies spent over$230 millionlobbying last class alone . But how much do senators on the Finance Committee get forthwith from Big Pharma ? Thanks to the websiteOpen secret , we know exactly how much they draw last yr . And it ’ll be helpful to keep that selective information in mind as these same multitude are question the drug company CEOs today .
Money to Republicans From the Pharmaceutical Industry in 2018
Chuck Grassley , Iowa- $ 12,000
Mike Crapo , Idaho – $ 131,800
Pat Roberts , Kansas – $ 27,500
Mike Enzi , Wyoming – $ 25,000
John Cornyn , Texas – $ 62,600
John Thune , South Dakota – $ 40,600
Richard Burr , North Carolina – $ 18,500
Johnny Isakson , Georgia – $ 68,000
Rob Portman , Ohio – $ 96,3508
Pat Toomey , Pennsylvania – $ 50,776
Tim Scott , South Carolina – $ 57,700
Bill Cassidy , Louisiana – $ 156,600
James Lankford , Oklahoma – $ 6,000
Steve Daines , Montana – $ 13,200
Todd Young , Indiana – $ 95,150
Money to Democrats From the Pharmaceutical Industry in 2018
Ron Wyden , Oregon – $ 76,220
Debbie Stabenow , Michigan – $ 97,531
Maria Cantwell , Washington – $ 35,232
Bob Menendez , New Jersey – $ 188,763
Tom Carper , Delaware – $ 143,550
Ben Cardin , Maryland – $ 67,374
Sherrod Brown , Ohio – $ 96,946
Michael Bennet , Colorado – $ 33,265
Bob Casey , Pennsylvania – $ 532,859
Mark Warner , Virginia – $ 59,733
Sheldon Whitehouse , Rhode Island – $ 54,696
Maggie Hassan , New Hampshire – $ 20,163
Catherine Cortez Masto , Nevada – $ 16,334
Republican Senator Chuck Grassley chair the Senate Finance committee and the healthcare manufacture considers him a “ critic ” despite the fact that he has n’t done much to actually reign in the drug company , which can legally charge consumers as much as they wish . Senator Grassley , like many of his colleague on both side of the aisle , have called for more transparentness in drug prices , as though that would really bring down the costs .
Grassley ’s modest reform have included a proposal of marriage to ask that the price of drug be included in television receiver advert . But such measures only serve to show how out of touch American lawgiver are with the relief of the earth . The U.S. and New Zealand are the only two country that even permit lineal to consumer advertising of prescription medications in the first place — publicizing that create artificial need for specific brand name drugs . But even these modest and inconsequent reform ca n’t get through . Grassley ’s advert pricing bill died in the House .
While he ’s taken in far less money than most , Grassley ’s legislation serves as an example of just how busted everything really is . Senator Grassley have “ only ” $ 12,000 from Big Pharma last year . Calling Grassley a reformer is a bit like praising the shiniest turd in the turd contest .
One major point of contention during the audience will no doubt be about the rocket price of insulin , something that has received considerable culture medium reporting in the pastfew months . Prices for the drug have gone up as much as 150 percent over the past five year . A category activity cause involving67 diabeticshas been filed against Novo , Eli Lilly , and Sanofi for jacklight up prices on the unrecorded - bring through drug .
As theWall Street Journalnotes , the prices for some of the most popular medication are rising by the month :
AbbVie ’s rheumatoid arthritis treatment Humira is the top - betray drug in the world , and the party allege that both volume and pricing fueled the drug ’s growth during the 4th quarter . AbbVie produce the drug ’s lean price by 9.7 % in January 2018 and then 6.2 % more last month .
Who ’s last to ask AbbVie CEO Richard A. Gonzalez about his damage gouging today ? And will senators just consent whatever he enounce at face value ?
The drug company have been under ardor on Capitol Hill before . But the past provides a uncheerful lesson for the future tense . Remember when Mylan , the makers of EpiPen came under fire back in the summer of 2016 for price gouging , raising the prices of the EpiPen from roughly $ 57 in 2007 to $ 600 in 2016 ?
Mylan ’s CEO , Heather Bresch , testified and endured criticism . But then everyone went home and thing went back to normal as consumer continued to get hose . The chairman of Mylan reportedly say in private that anyone who was criticize their practices couldgo fuck themselves . The CEO evenlied to Congress , saying that Mylan made a lot less profit than they actually did . Nobody break to slammer and nothing changed in any substantial way .
Every fourth dimension you hear some senator asking a question today , feel loose to consult our helpful list above . Will Democratic Senator Bob Casey demand actual answer from the health care CEOs after taking $ 532,859 from the industry last year ? We ’re not holding our breath , but we may want to anyway . This is a turd contest , after all .
Update , 10:25am : away from the Senate Finance Committee ’s video flow on itswebsite , PBS Newshour also has a livestream of the testimonyon YouTube :
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