CEO Sidesteps Big Pharma’s Pricing Practices; Pushes Proposals That Would Boost Drug Company Profits and Incentivize Price Hikes During a recent interview on Bloomberg’s “Balance of Power,” Pfizer CEO Albert Bourla claimed the pharmaceutical industry is willing to be a helpful partner in reducing “significantly the cost of medicines.” What Bourla did not mention in […]
Lawmakers Must Advance Solutions to Lower Drug Prices For Immediate Release Contact: Jon Conradi 860-235-3884 [email protected] Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) issued a statement Tuesday on the release of drug pricing principles from U.S. Senate Committee on Finance Chairman Ron Wyden (D-OR). “CSRxP commends Chairman Wyden for his leadership and dedication to […]
Broad-based Opposition to Egregious Launch Price on Drug With Unproven Clinical Benefit Adds to Momentum to Hold Big Pharma Accountable Last week, the U.S. Food and Drug Administration (FDA) approved Alzheimer’s treatment aducanumab, brand name Aduhelm, despite serious questions about the medication’s clinical benefit for patients and a unanimous vote against moving forward from the […]
AARP Study Finds Brand Name Drug Companies Increased Prices Above Rate of Inflation on 90 Percent of Best-Selling Part D Medications In case you missed it, AARP released a new report Monday detailing how drug price increases that exceed the rate of inflation are costing the Medicare Part D program billions of dollars in additional […]
For far too long Big Pharma has used the excuse that research and development (R&D) costs justify out-of-control prescription drug prices and that solutions to lower prices threaten innovation into new breakthroughs. These tired arguments, which Big Pharma wields like a shield to protect the industry’s anti-competitive and price-hiking practices, simply don’t hold up to […]
House Oversight Lawmakers Commit to Bipartisan Action to Hold Big Pharma Accountable During Explosive Hearing on Out-of-Control Drug Prices During a hearing Tuesday before the U.S. House Committee on Oversight and Reform, the CEO of AbbVie, the manufacturer of the world’s best-selling drug Humira, was put squarely on the hot seat as lawmakers drilled down […]
AbbVie CEO Headed for Capitol Hill to Answer for Indefensible Anti-Competitive & Price-Hiking Tactics on World’s Best-Selling Drug On Tuesday, lawmakers in the U.S. House Committee on Oversight and Reform are set to question AbbVie CEO Richard Gonzalez on the Big Pharma company’s pricing and marketing tactics around blockbuster rheumatoid arthritis drug Humira. Humira has […]
Members of Congress in Both Parties Recognize Urgency for Solutions to Deliver Relief for American Patients During a pair of hearings this week in the U.S. House Energy & Commerce Committee Subcommittee on Health and House Education & Labor Committee Subcommittee on Health, Employment, Labor, and Pensions, lawmakers from both parties emphasized the urgent need […]
Drug Companies Top Wall Street Expectations; Pfizer Raises Guidance Based On Massive Taxpayer-Funded Vaccine Profits New first quarter earnings reports from Big Pharma giants Pfizer, AbbVie and AstraZeneca topped Wall Street analysts’ expectations. Pfizer, in particular, smashed forecasts and raised its profit guidance for the year. The company’s big time earnings were driven, in large […]
Brand Name Drug Makers Boosting Profits, Sales After Engaging In Pandemic Price Hikes Another round of first quarter earnings reports from brand name drug makers Sanofi, Merck, Bristol-Myers Squibb (BMS), Amgen, and GlaxoSmithKline (GSK) showcase how Big Pharma continues to bank expectation-beating profits and rising sales against a backdrop of continued price hikes — even […]