Posted by Michael Wonder on 09 Dec 2018
Congress to drug makers: why stock buybacks over lowered drug prices?
6 December 2018 - Democratic law makers criticise big pharmaceutical firms for use of tax savings, threaten hearings.
Critics of high drug prices are launching a new line of attack against manufacturers of the medicines, faulting the firms for using savings from the tax overhaul to buy back shares rather than lower prices.
The attacks began in October, when more than a dozen Democrats in the House of Representatives sent letters to five big pharmaceutical companies saying they had benefited from recent tax cuts but kept charging high prices.
