Today, the Senate Finance Committee held a hearing on high drug prices and executives from seven drug manufacturers presented testimony.
Chairman Chuck Grassley (R-IA) opened the hearing by calling out Big Pharma for its tactics to keep prices high but it will no longer work. Senator Grassley essentially cut them off at the pass by pre-empting any and all arguments that they could hide behind.
And he was right.
Once given the opportunity, all seven executives used all the excuses and more to shirk responsibility.
Ranking Member Ron Wyden (D-OR) offered specific examples for each company in attendance. “Drug makers behave as if patients and taxpayers are unlocked ATMs full of cash to be extracted, and their shareholders are the customers they value above all else,” said Senator Wyden.
Senator Debbie Stabenow (D-MI) also called out the executives by stating plainly, “You charge more [in the U.S.] because you can.”
This is the point of these hearings – to draw attention to the problem and make changes that will stop these companies from being able to raise prices.
Yet all the negative attention has not resulted in meaningful change to date, although we are hopeful and will be watching closely.
Please watch the hearing: https://bit.ly/2WcEPNt and join our fight to ensure Americans can access safe and affordable medications: https://personalimportation.org/contact-congress/#/