It’s time for Congress to act to hold
#BigPharma
accountable and lower prescription
#DrugPrices
by passing bipartisan, market-based solutions put forward by the Senate Finance Committee.
The Senate Finance Committee’s bipartisan
#DrugPricing
package would help lower prescription
#DrugPrices
and hold
#BigPharma
accountable. Now, it’s time for Congress to pass these important measures.
#BigPharma
will do anything to shift the blame… but America isn’t falling for it. Patients are suffering at the hands of
#BigPharma
’s price gouging – nobody else’s.
“Drug prices are soaring in a way that defies reason. A vial of insulin that cost less than $200 a decade ago now sells for closer to $1,500.”
Ahead of
@SenFinance
, it’s time for
#BigPharma
to have their
#BigTobacco
moment:
After years of talk about holding
#BigPharma
accountable, the
@WhiteHouse
has instead caved. The Rebate Rule would hand drug companies a $100+ billion bailout while they continue hiking prices. But Big Pharma isn’t in need of relief – struggling families are.
The out-of-control prices set by
#BigPharma
on prescription drugs used to treat cancer have created a crisis of affordability – and placed breakthrough treatments out-of-reach for too many American patients. They must be held accountable for this price-gouging.
.
@MickKolassa
wrote
#BigPharma
’s drug pricing playbook and is now exposing how the brand name drug industry went from bringing value to the market to taking advantage of it.
Read the full story in
@statnews
:
Despite little evidence of efficacy,
#BigPharma
set an egregious $56,000/yr list price on the drug Aduhelm.
Now, 77% of voters agree clinical value and likely cost should be considered in
@US_FDA
approval decisions for new medications.
More via
@MorningConsult
→
A new
@AARPpolicy
analysis examining Medicare Part D from 2016-2020 on the 10 top-selling brand name drugs found that “on average, total Part D spending on the drugs reviewed over the 5-year period was more than 5 times higher than the average cost to develop a new drug.” More:
Amid unprecedented momentum to hold
#BigPharma
accountable & lower
#drugprices
,
@PhRMA
is deflecting blame, falsely claiming “prescription drugs are not fueling inflation.”
The facts are clear: Big Pharma’s price hikes have consistently outpaced inflation & caused rising costs.
A new study published in
@JAMA_current
showcases how
#BigPharma
increasingly engages in egregious pricing practices on brand name drugs. Researchers affiliated with
@Harvard
and
@BrighamWomens
found that companies hiked launch prices by 20% every year for 14 years →
Earnings from
@Novartis
,
@GSK
,
@Amgen
and
@Roche
bested
#WallStreet
expectations for Q1 – further demonstrating that price-gouging American patients continues to prove profitable for
#BigPharma
without action from Congress to hold them accountable:
From
@MorningConsult
: more than three in four voters support additional legislative and regulatory solutions to crack down on
#BigPharma
’s egregious abuse of the patent system and boost competition in the prescription drug marketplace →
ICYMI:
@evaluatepharma
and
@endpts
found that
#BigPharma
continued to reap massive profits and invest in shareholders while hiking prices on patients and pointing the blame for out-of-control
#drugprices
at others in the supply chain.
While millions of Americans struggle to afford their medications,
#BigPharma
’s price hikes continue to outpace inflation. It's time for Congress to act and hold Big Pharma accountable.
Prescription
#DrugPrices
in America are out-of-control and the momentum for action is unprecedented. Congress must move quickly to hold
#BigPharma
accountable and lower prices.
The Admin's decision to advance the
#RebateRule
demonstrated shocking deference to the will of the
#BigPharma
. They should stand up to drug companies by withdrawing the Rebate Rule, leaving the critical 340B program alone & advancing solutions to hold Big Pharma accountable.
.
@RxPricing
took a hard look at the
#BigPharmaDollar
– and unfortunately for
#BigPharma
, when you break down their spending, the math just doesn’t match their rhetoric. These are the facts:
.
@Merck
claims to “have a long history of responsibly pricing our medicines and vaccines.” The facts say otherwise. Time to give
#BigPharma
a
#DoseofReality
:
#BigPharma
’s never-ending price hikes have outpaced inflation for years – escalating the affordability crisis for Americans who face financial uncertainty purchasing their medications and imposing heavy costs on taxpayers. Learn more:
#BigPharma
giant
@JNJNews
surpassed
#WallStreet
analysts’ earnings expectations in Q1 of 2022, growing sales and posting massive profits after hiking prices on several prescription drugs in their portfolio amid the winter pandemic surge. Read more:
DYK:
#BigPharma
traditionally hikes prescription
#drugprices
in two major batches each year — the first starting in January and the second starting in July. Learn how their egregious practices have caused
#RxPrices
to rise at rates faster than
#inflation
↓
#BigPharma
’s innovation rhetoric is bogus – and policymakers must see through the pharmaceutical industry’s smoke and mirrors excuses to enact market-based solutions that hold brand name drug makers accountable and lower prescription
#DrugPrices
. →
Have you seen
#BigPharma
’s ads blaming others for out-of-control prescription
#drugprices
?
They claim to be investing in R&D – but are actually investing millions in advertising instead to keep drug prices out-of-control and evade accountability for price-gouging Americans.
#BigPharma
’s sky-high launch prices & price hikes for life-saving drugs are NOT connected to increases in clinical value.
Americans need Congress to crack down on
#BigPharma
’s pricing practices that are the underlying cause of out-of-control
#RxPrices
. More:
American diabetics are forced to pay some of the highest prices for insulin in the world. It's costing many their lives, and the rest of the world is taking notice. Listen via
@BBC
→
.
@Abbvie
CEO says “we make decisions based on our deep caring and compassion for people,” but is okay with 100% price hikes? Something isn’t adding up.
#BigPharma
needs a
#DoseofReality
:
We applaud the momentum to address out-of-control prescription
#drugprices
and hold
#BigPharma
accountable. This is a real opportunity for market-based solutions to deliver more choices, more competition, and lower prices. Read our full statement:
To undermine drug pricing solutions,
#BigPharma
funds patient groups and maintains an arsenal of astroturf third-party organizations and so-called charities. Learn more from this eye-opening report by
@P4AD_
:
.
@pfizer
claims to believe that “the best means to address affordability of medicines is to reduce the growing out-of-pocket costs.” Well, they’re not doing so hot. Get a
#DoseofReality
:
A new report by
@P4AD_
finds that many patient advocacy groups are funded by
#BigPharma
– creating conflicts of interest in the pursuit of drug price affordability. Read here:
#BigPharma
’s egregious price hikes and pricing practices are putting life-saving medications out of reach for millions of Americans – and must be stopped.
So where do those profits go? In ‘16, Gilead had $13.5b profit - spent $11b on share buybacks and $2.5b on dividend. Nothing wrong with profit, but let’s not pretend that high
#drugprices
are being plowed back into R&D
The millions of Americans facing financial uncertainty affording their medications have waited too long for action in Washington & are counting on Congress to finally deliver on repeated promises to lower
#drugprices
by cracking down on
#BigPharma
’s egregious price-gouging. More:
Of the 100 best-selling
#BigPharma
drugs, nearly 80% have extended their patents to block generic competition at least once, and 50% have extended them multiple times. Stop the patent abuse.
Without competition,
#BigPharma
can run wild, with American seniors paying the price. We need a real fix like the CREATES Act to make drugs more affordable.
@SenateAging
@DemsOnAging
FACTS: Of the 100 best selling drugs, the makers of nearly 80 percent have extended their patents at least once to block generic competition and maintain monopolies on these critical medications.
@senjudiciary
We applaud
@POTUS
for calling for bipartisan action to lower
#drugprices
. This is a top priority for American voters who need relief from
#BigPharma
’s egregious pricing and anti-competitive practices. We look forward to working with the admin and Congress to get this done.
The heat was on during a recent Senate HELP Committee hearing 🔥.
@moderna_tx
couldn't justify raising the price of their COVID-19 vaccine by nearly 500%. It's clear that they and other
#BigPharma
companies only care about maximizing profits. More here →
“247 patent applications have been filed on Humira in the U.S. with the aim of delaying competition for 39 years.”
@IMAKglobal
’s case study examines how overpatenting by
#BigPharma
hinders competition and drives up
#drugprices
→
#BigPharma
’s strategy: find a drug patients can’t live without, then hike hike hike! Pharma sees the 7.4 million insulin-dependent diabetics not as patients, but as profits. Via
@Runaway_Rx
“With advancements in research and development, the price of insulin should be going down. Instead, pharmaceutical companies keep raising the price simply to pad their bottom lines.” Sarah Gleich, Diabetic
@SenFinance
@SenFinance
#BigPharma
’s unrelenting efforts to get their bailout is just another attempt to hijack something meant to help people and turn it into an opportunity to price-gouge patients. We won’t stand for it.
#NoBigPharmaBailout
“Humira is protected by over 130 patents…these patens block generic competition that could bring down the price for biologics.” -
@SenatorCollins
,
@SenateAging
Read more about
#BigPharma
’s anticompetitive tactics:
❌ MYTH:
#BigPharma
-backed donut hole changes will “fix”
#Medicare
Part D:
✅ FACT:
#BigPharma
’s solution is a bailout in their favor – and will dramatically raise prices for patients, especially seniors:
.
@pfizer
raised the price of Lyrica 2,316 times between 2015 - 2019.
@pfizer
also spent $272 million on Lyrica advertisements in 2018 alone. Don’t buy
#BigPharma
’s rhetoric, their massive price hikes are used to pay for ad buys and to bank higher profits.
In
@thehill
,
@DeanClancy
pens a must-read op-ed on the "no-brainer"
#CREATESAct
- "Between these two extremes lies an elegant, bipartisan, and broadly popular solution: the Creates Act, which would reduce drug prices without harming anyone."
#Drugprices
#BigPharma
hiked prices on more than 3,400 drugs this year resulting in millions of dollars in new revenue, while Americans struggle every day to afford their medications.
Cracking down on
#BigPharma
’s anti-competitive tactics will help lower
#drugprices
for patients. Don’t buy the bogus Big Pharma blame game designed to evade accountability and keep prices high.
Learn more:
Honest question -- is there another industry that "limits" the annual price increase of their (old and unchanged) products to 9.9% and expects applause for it?
#drugprices
#bigpharma
More proof
#BigPharma
will never do the right thing. After pledging to delay price hikes,
@Merck
is following
@pfizer
’s back to “business as normal,” increasing prices on important drugs – from cancer treatments to vaccines that prevent infections like HPV
“People are struggling to afford their prescription drugs. It’s ridiculous. It’s immoral… if the only kinds of innovations you’re generating are ones that patients can’t afford, that’s not real innovation in the rest of the economy.”
More from
@FREOPP
president,
@Avik
Roy:
#BigPharma
games the patent system to block competition and protect their profits. By maintaining monopolies they drive up prices without improving the medications patients need most. Get the facts.
ICYMI:
#CREATESAct
and other key
#DrugPricing
bills have received a bipartisan 👍 👍 from
@EnergyCommerce
, signaling bipartisan momentum to continue to advance and pass into law.
We applaud Chairwoman
@RepMaloney
and members of House leadership for their continued commitment to holding
#BigPharma
accountable and delivering lower drug prices for the American people. Read our statement on the committee’s new report:
#BigPharma
’s bogus blame game is designed to keep
#drugprices
high and pad their bottom line. It’s time for leaders in Washington to hold them accountable for their anti-competitive practices and price-gouging.
From
@KaiserFamFound
--
#drugprices
are the top domestic policy priority for voters, and yet little has been done to address the root causes of this crisis: the problem is the price.
Instead of lowering prices for consumers,
#BigPharma
spent $9.91 million on lobbying in the first quarter of 2019 alone. It’s time to hold themaccountable. Millions of dollars spent on lobbying can’t stop bipartisan momentum to lower
#DrugPrices
.
ICYMI: 1 in 10 Americans rely on insulin, and
#BigPharma
knows it. From out-of-control price hikes to patent abuse, patients have been strung along with no relief in sight. It’s time to hold Big Pharma accountable.
ICYMI: After 6 years of extended monopoly pricing, 165 patents, and $114 billion in
#BigPharma
profits,
@abbvie
’s brand name drug
#Humira
is FINALLY facing competition. Policymakers must crack down on Big Pharma’s patent abuse.
Learn more via
@nytimes
:
While Big Pharma is posting record-high profits, Americans are selling their possessions to afford insulin. It’s time for
#BigPharma
price gouging to end.
✖ A $100 billion
#BigPharma
bailout.
✖ Higher premiums on seniors.
✖ $200 billion price tag for taxpayers.
✖ No reduction in list prices.
Of course
#BigPharma
is eager to see the Rebate Rule enacted!
"There are a number of groups created by pharma companies that look and act like patient organizations, but they're 100% funded by industry. They sound and look like patient organizations, but they take positions that industry wants."
“This will bring basic transparency for drug companies that are systematically jacking up the prices of prescription drugs.” Thank you
@SenatorBaldwin
, for taking a leadership role in holding
#BigPharma
accountable!