Statement from Margarida Jorge, Campaign Director, Lower Drug Prices Now, on the explosive Washington Post report that Emergent BioSolutions CEO Robert Kramer sold more than $10 million worth of his company’s stock before problems at the company’s plant became public and the stock price went down:

This is just the latest shocking and disgusting example of an industry that puts profits above all else. The actions by Mr. Kramer must be immediately and urgently investigated by the Securities and Exchange Commission.

For too long Big Pharma has prioritized enriching a small number of executives over providing reliable, safe and affordable medicines to the public. Mr. Kramer’s actions are just the latest and among the most egregious yet. While the past Administration turned a blind eye to such actions, we hope the Biden Administration will not. This is yet more evidence that drug reforms that lower prices and hold corporations accountable are long overdue.

The SEC must immediately investigate the actions of Mr. Kramer and the other Big Pharma CEOs that have profiteered off of the pandemic.