The President’s executive order to rein in drug corporations’ monopoly control over prices comes in stark contrast to Senate Republicans’ introduction of legislation to repeal lower drug drug costs in the Inflation Reduction Act even before the law is implemented.
Today is a huge defeat for Big Pharma and a huge victory for patients who have long endured the drug corporations’ relentless price-gouging. Pharma’s monopoly power to set and raise prices as high as they want has put affordable medicine out of the reach of millions of people for years and caused untold harm.
We are now one, very important, step closer to a historic victory for consumers and a historic defeat for Big Pharma’s monopoly control over prescription drug prices.
DES MOINES — Iowa’s U.S. senators signaled opposition to a proposed plan from Senate Democrats aimed at lowering drug prices for Medicare recipients unveiled this week.
Sen. Joni Ernst and a spokesperson for Sen. Chuck Grassley, both Republicans, decried the plan as partisan in statements to the Lee Enterprises Des Moines Bureau.
This is a once in a generation chance for Democrats to finally deliver on their promises to lower drug prices. At a time when the price of everything is going up, this bill, if enacted, would finally rein in big Pharma’s price-gouging and make medicines more affordable for millions of Americans.
Washington, DC – Yesterday, Representative Susan Wild, a champion for cutting costs for the people of Pennsylvania’s Seventh District, sent a letter signed by 19 colleagues, calling for Senate Majority Leader Chuck Schumer and Senate Committee on Finance Chairman Ron Wyden to provide relief for Americans by taking action to lower prescription drug prices through a reconciliation bill.
Not only have Big Pharma corporations raised the prices of more than 450 drugs already this year, but this investigation from Senate Finance shows how they’re using complex loopholes to avoid paying taxes on the sales of those drugs.