Big pharma claims to serve public health, but spends billions on political lobbying and multimillion dollar executive salaries.
Is corporate greed and political donations the real obstacle to lowering drug prices? Follow the money in this interactive relationship map. Click anywhere to see the connections and money flow.
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Big pharma spends billions on political lobbying
The lobbying power of the big drug companies means they are ripping off the government and charging the American people any price they want. Not only that. Because of the power of the pharmaceutical industry all Americans are forced to pay, by far, the highest prices in the world for prescription drugs. This absurdity must end.
Negotiating drug prices is what every other major country on earth does. The Veterans Administration does it. Only Medicare is prohibited from taking this obvious step. What we are fighting for now is the very definition of a win-win-win situation. Seniors pay lower prices for prescription drugs and receive hearing, vision and dental care. Millions more Americans become eligible to participate in the Medicare program. And we lower prescription drug costs for all Americans," said Bernie Sanders. - The Guardian
Swinging door between politicians and lobbyists
"Schrader’s longtime top aide, Paul Gage, left the congressman’s office earlier this year, according to Legistorm, and quickly started lobbying for Pharmaceutical Research and Manufacturers of America (PhRMA), the powerful Washington drug lobby. Gage has been lobbying Congress on drug pricing issues and HR 3, according to ethics records. PhRMA raised more than $500m in 2019, and the organization is one of the top lobbying spenders in DC." - The Guardian
Bringing drug prices down
"The Biden administration on Thursday endorsed an aggressive proposal to limit prices for prescription drugs, calling for the government to negotiate with drug makers on prices and applying those prices not just to Medicare but to all drug purchasers in the country. The proposal from the Department of Health and Human Services, was included a range of recommendations to foster more competition among drugmakers and improve the affordability of drugs for patients enrolled in Medicare." - NY Times