Senate HELP Committee Members Slam Moderna’s CEO for Instituting Nearly 500 Percent Price Increase on Company’s COVID-19 Vaccine On Wednesday, the U.S. Senate Committee on Health, Education, Labor and Pensions (HELP) held a hearing with Moderna’s CEO, Stéphane Bancel, titled “Taxpayers Paid Billions For It: So Why Would Moderna Consider Quadrupling the Price of the […]
Senate HELP Committee to Question Moderna CEO on Nearly 500 Percent Price Hike on COVID-19 Vaccine Developed with Taxpayer Investment As COVID-19 vaccine and therapeutic coverage shifts to the commercial market, Big Pharma is increasingly and brazenly trying to price-gouge the American people and health care system. Big Pharma’s price hikes on COVID-19 vaccines and […]
Big Pharma Giants With Affinity for Price Hikes Acquire Smaller Brand Name Drug Companies with Their Own History of Egregious Pricing Practices This week, two Big Pharma giants, both with a long track record of egregious pricing and anti-competitive practices, announced acquisitions of smaller companies with their own history of price-gouging behavior. On Monday, Pfizer announced plans to acquire drug maker Seagen, known for its pipeline of cancer medications, for $43 billion. As STAT News reported, the deal […]
Wall Street Journal Analysis Finds Median Monthly Price for Newly Approved Drugs Nearly Tripled in 10 Years, from $2,624 in 2011 to $7,034 in 2022 A new analysis released this week by The Wall Street Journal reveals the extent to which brand name drug makers are increasingly targeting higher launch prices for new products as a way […]
Event Highlights Importance of Holding Big Pharma Accountable to Boost Competition and Lower Drug Prices In case you missed it, on Thursday, The Hill hosted a virtual event, “Prescription for Change: Improving Competition to Lower Drug Prices,” moderated by Bob Cusak, Editor in Chief of The Hill. The event included an interview with U.S. Senator Tina […]
Anti-Competitive Strategy Around Brand Name Narcolepsy Medications Blocked Patients from Accessing Alternatives In case you missed it, on Tuesday, The New York Times reported on anti-competitive tactics used by Jazz Pharmaceuticals on their brand name narcolepsy drugs, Xyrem and Xyvaw, to block patients from accessing alternatives — including alternatives that may be more effective. The […]
Big Pharma Giants Once Again Top Wall Street Expectations in Final Round of Fourth Quarter Earnings Reports While Continuing to Price-Gouge American Patients A final round of Big Pharma 2022 fourth-quarter earnings reports from AbbVie and AstraZeneca showcases the pharmaceutical industry continues to ride high on blockbuster profits, fueled by price hikes and egregious anti-competitive […]
Four Big Pharma Giants That Hiked Drug Prices on American Patients in 2022 and First Weeks of 2023 All Beat Wall Street Earnings Expectations Another round of fourth-quarter earnings reports from Merck, Sanofi, Bristol-Myers Squibb and Eli Lilly show that brand-name drug manufacturers continue to rake in blockbuster profits while price-gouging the American people. All […]
Lawmakers Should Focus Attention on Brand Name Drug Companies That Set Prices, Increase Prices and Game the System to Block Competition Lawmakers must remember that Big Pharma is the culprit behind out-of-control prescription drug prices, and the sole entity responsible for setting and hiking prescription drug prices — and should reject Big Pharma’s multi-million-dollar blame […]
Senate Judiciary Committee Advances Bipartisan Legislation Cracking Down on Big Pharma’s Patent Abuse Last week, the U.S. Senate Committee on the Judiciary advanced the Affordable Prescriptions for Patients Act of 2023 to the full Senate for consideration. The legislation, introduced by Senator John Cornyn (R-TX) and Senator Richard Blumenthal (D-CT), advances solutions to hold Big […]