Is Congress too afraid to fight big pharma?

The Hill

4 October 2019 - Millions of Americans are struggling to afford their prescription drugs. Big Pharma corporations are enjoying billions in profits and tax breaks. We the people want to know: Is Congress too afraid to fight?

In 2003, lobbyists from Big Pharma pressured Congress to stop Medicare from negotiating for cheaper prescription drug prices as part of the Medicare Drug Benefit (also known as Medicare Part D). That corporate coercion paid off handsomely. For just one drug, insulin, Medicare Part D spending increased by 840 percent between 2007 and 2017, from $1.4 billion to $13.3 billion.

Insulin was first discovered in 1922. Yet there are no generic manufacturers of it. Just three corporations — Sanofi, Novo Nordisk, and Eli Lilly — make America’s insulin. Together, they rake in billions while patients dangerously ration this life-sustaining medication.

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Michael Wonder

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Michael Wonder