Drug company CEO’s sat in the Senate hot seat for the price of medications in the US
https://www.fiercepharma.com/pharma/pbms-take-lot-blame-senators-question-bms-jj-and-merck-ceos-high-drug-prices-us
This is a pharma company sponsored article, so view it with that slant. Three big pharma company CEO’s testified to the Senate about why drug prices are so high. The “R&D” excuse was thrown around, but shareholders and stakenholders took home billions more dollars than R&D was paid in 2022.
The scapegoat that they have chosen is PBM’s, or pharmacy benefit managers. They are the devil incarnate that negotiate with insurance companies what they will and won’t pay for a patient. They receive money and kickbacks for saving their insurance companies money, and pocket incentives and kickbacks for themselves. The ultimate “buck” is passed on to the patient prescribed the drug.
As you can see in this article, nothing ever happens. The CEO’s sit on the hot seat, spew out their excuses, but pharma is never held accountable at the end of the day. I am a Rand Paul fan, but he is an Ophthalmologist, does he accept big pharma money? Pharma lobby dollars? He seemed awfully defensive of pharma and their “innovation”.
I like Rand Paul as a fiscal conservative, but like you say...
Big Pharma is doing the petulant child thing by attempting to throw focus onto something or someone else.
Seen this movie many times.
Until corruption is replaced by honesty, nothing will change.
It's just another day rearranging the deck chairs.
Thanks for the article. Keep the fires going.
The truth, from Ann Barnhardt's web site FAQ's:
"11. What politicians do you support?
None. They are all psychopaths and whores. ALL OF THEM. The culture has degraded such that seeking and/or holding office, especially national-level office, is, in and of itself, proof that a given person is psychologically and morally unfit to hold public office."
Peace.