WASHINGTON, D.C. — The House Committee on Oversight and Reform released a new report today demonstrating that Big Pharma’s argument that the industry requires high drug prices to develop meaningful innovation is simply untrue. The report finds that 14 pharmaceutical corporations spent $56 billion more on stock buybacks and dividends than on research and development from 2016 to 2020.
Today’s press call, hosted by Chairwoman Carolyn B. Maloney alongside Speaker Nancy Pelosi and Rep. Peter Welch, highlighted patient advocate Lynn Scarfuto, a retired nurse and cancer patient who faces a $14,000 price tag for her cancer medication, Imbruvica. The report finds that even if the pharmaceutical industry were to see a decrease in revenue due to drug pricing reforms like H.R. 3, which would allow Medicare to negotiate lower prices for Americans, drug corporations could maintain or exceed current research and development levels by spending less on buybacks and dividends.
“Patients don’t buy Big Pharma’s lie that drug corporations must be allowed to dictate sky-high prices in order to drive research and development — we can have the innovation we need at prices we can afford,” said David Mitchell, a cancer patient and founder of Patients For Affordable Drugs Now. “Americans should not be paying almost four times what other wealthy nations pay for the same brand-name drugs. Congress must put patients first and allow Medicare to have the power to negotiate lower prices by passing H.R. 3.”
Lynn Scarfuto told the press that she is worried that she will soon lose the ability to afford her prescription.
“I don’t have the financial resources to pay for my medication — and not many people do,” said Scarfuto, from Herkimer, New York. “My inability to afford Imbruvica’s astronomical price once my assistance runs out would certainly expedite my death.”
AbbVie, the company that makes Imbruvica, made more than $4.3 billion in net revenue from Imbruvica in 2020 alone. AbbVie CEO Richard Gonzalez admitted that price increases that led to increased revenue had nothing to do with innovation or improvement to that drug. The new report shows AbbVie, along with other drug companies, spent more on stock buybacks and dividends than research and development every year for the past five years.
Key takeaways from the report include the following:
“Big Pharma companies, like AbbVie, want patients and Congress alike to believe that we must face high prices to fund important innovation. But that’s just not the case,” Scarfuto continued. “Congress has the power to change our broken system by passing H.R. 3 and allowing Medicare to negotiate drug prices so we can have the innovative medications we need at prices we all can afford. For patients like me, it is a matter of life and death.”
H.R. 3, the Elijah E. Cummings Lower Drug Costs Now Act, was reintroduced in the House of Representatives in April. The chamber passed the bill in the 116th Congress. It will lower prices, rein in price gouging, and reduce out-of-pocket costs by restoring balance to the U.S. drug pricing system to ensure both innovation and affordability.
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WASHINGTON, D.C. — The following statement was issued today by Patients For Affordable Drugs Now:
“We want to thank Senator Casey’s office for engaging in conversations with us and reiterating his long-standing support for Medicare negotiation. We appreciate his continuing commitment to a strong Senate Finance Committee drug pricing bill, including an effective approach to Medicare negotiation that will lower prices for Americans. As a result, we are suspending advertising and other activities in Pennsylvania that were announced yesterday. We regret any misunderstandings on our part and look forward to working with Senator Casey and his office to achieve our mutual goals in the weeks and months ahead.”
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COLORADO — The following statement was issued today by David Mitchell, a cancer patient and founder of Patients For Affordable Drugs Now:
“We want to thank Senator Bennet’s office for the opportunity to have a conversation today, during which we clarified his position on drug price legislation. We received strong assurances of Senator Bennet’s continued commitment to fighting for a strong Senate Finance Committee drug pricing bill that will include an effective approach to Medicare negotiation that will lower prices and reduce out-of-pocket costs for patients and all Americans. As a result, we are suspending advertising and other activities in Colorado that were announced today. We regret any misunderstandings on our part, and we look forward to working with Senator Bennet and his office to achieve our mutual goals in the weeks and months ahead.”
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WASHINGTON, D.C. — Patients For Affordable Drugs Now announced the launch of a campaign encouraging members of the Senate Finance Committee to support legislation to lower drug prices by allowing Medicare negotiation. The new six-figure push will begin on July 2 and includes TV ads, digital ads, and grassroots advocacy, in which patients will write and call their senators directly. The Senate campaign addresses Senators Tom Carper (D-DE) and Bob Menendez (D-NJ).
“As the Senate Finance Committee develops detailed legislative proposals built on the excellent principles promulgated by Chairman Wyden, it’s critical for Senators Carper and Menendez to bear in mind that 90 percent of Americans support Medicare negotiation to lower drug prices,” said David Mitchell, a cancer patient and founder of Patients For Affordable Drugs Now. “Patients are depending on these senators to join with other supporters of meaningful reform and insist on strong legislation that will lower drug prices and deliver savings for Medicare beneficiaries and all Americans.”
Senate Finance Committee Chairman Ron Wyden recently released his guiding principles for drug pricing reform. It is expected that the Finance Committee’s bill will be considered for inclusion in the Democrats’ reconciliation budget package later this year.
The campaign includes new video ads featuring multiple sclerosis patient and registered nurse Therese Ball from Ogden Dunes, Indiana. To manage her symptoms, Ball is prescribed Tysabri, which is priced at $7,463 each month.
“As a nurse, I had patients who struggled to pay for their prescription drugs. When I was diagnosed with MS, I became one, too. The medications I need to live are priced at over $7,000 every month,” Ball, a grandmother and retired nurse, says in the video ads. “I can’t afford these prices. I had to ration and skip doses.”
The ads urge each senator to support legislation to allow Medicare to negotiate prices. “Patients need this reform, and we need his support,” the ads say.
Watch the ad for Senator Tom Carper (D-DE) here.
Watch the ad for Senator Bob Menendez (D-NJ) here.
This campaign marks the launch of P4ADNow’s outreach to senators in the 117th Congress. It complements the patient advocacy group’s House campaign to support H.R. 3 first launched on May 20 with a seven-figure budget to 42 House districts across 22 states and in D.C, which then expanded to add two more House districts. This campaign is, in part, a counterweight to Big Pharma’s attack ads loaded with lies about H.R. 3 and included video ads, digital ads, and grassroots advocacy.
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WASHINGTON, D.C. — The following statement was issued by David Mitchell, a cancer patient and founder of Patients For Affordable Drugs Now, in response to the Principles For Drug Pricing Reform released today by Senate Finance Committee Chairman Ron Wyden:
“The principles released today lay a strong and thoughtful foundation for comprehensive reform of the U.S. drug pricing system, from lowering list prices set by drug corporations to reducing out-of-pocket costs for patients at the pharmacy counter.
“We are very pleased to see the inclusion of Medicare negotiation as the first principle, extension of ‘drug pricing reforms that keep prices and patient costs in check’ beyond Medicare to all Americans, and provisions to spur and reward innovation. We applaud Chairman Wyden’s leadership and look forward to supporting and working with the committee to flesh out the details in legislation that will bring the principles to life and relief to millions of patients.”
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TALLAHASSEE — Big Pharma is furiously lobbying Washington to protect its profits, but Sen. Rick Scott is fighting for patients as he works to lower drug prices. That’s why today, Patients For Affordable Drugs Now launched a campaign to thank Sen. Scott for his leadership in the fight to lower drug prices and encourage him to support a key Senate bill that would protect Americans from unjustified drug price hikes.
Watch the ad campaign video, “Ashley.”
Currently, the average American pays two to three times more for prescription drugs than citizens in other wealthy countries. The Prescription Drug Pricing Reduction Act of 2019 would curtail runaway price hikes in America and cap out-of-pocket costs for patients on Medicare, who can face more than $15,000 a year in drug costs.
“Senator Scott has been standing up to Big Pharma since he got to Washington, through his support of the We PAID Act and the Transparent Drug Pricing Act,” said David Mitchell, a cancer patient and the founder of Patients For Affordable Drugs Now. “President Trump supports the bipartisan Senate bill, and now we’re asking Senator Scott to join in cosponsoring it. We want him to know that patients have his back.”
Today’s ads are part of the multi-million dollar campaign Patients For Affordable Drugs Now launched last month that features patients speaking out in support of proposals in the House and Senate to rein in skyrocketing drug prices. The campaign features TV, digital, and radio ads across the country that show the toll high prescription drug prices are taking on everyday Americans. In addition to paid media, the effort features visits from patients to Washington to share their stories in person and gives patients a suite of tools to contact their representatives in support of lowering drug prices.
Big Pharma is spending millions to distort, demonize, and relentlessly attack these proposals because the changes could actually break the rigged system that keeps pharma profits high and patients’ costs skyrocketing.
Americans overwhelmingly support action to lower drug prices. Eighty-six percent of Americans — majorities of Democrats, Republicans, and Independents — support allowing Medicare to negotiate. Nearly 1 in 3 adults report not taking their medicines as prescribed due to cost.
The mission of Patients For Affordable Drugs Now is to educate the public and mobilize patients to advocate for policies to curb runaway drug prices in America. Touted by The Hill as “a leading drug pricing advocacy group,” Patients For Affordable Drugs Now is a bipartisan non-profit organization established under Section 501(c)(4) of the Internal Revenue Service code. As a 501(c)(4), P4ADNow engages in electoral activity and direct advocacy in support of legislation that would lower drug prices.
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SALT LAKE CITY — Big Pharma is furiously lobbying Washington to protect its profits, but Sens. Mitt Romney and Mike Lee are fighting for patients as they work to lower drug prices. That’s why today, Patients For Affordable Drugs Now launched a campaign to thank the senators for their leadership in the fight to lower drug prices and encourage each to support a key bill in the Senate that would protect Americans from unjustified drug price hikes.
Watch the ad campaign videos featuring a patient named Ashley for Sen. Romney and Sen. Lee.
Currently, the average American pays two to three times more for prescription drugs than citizens in other wealthy countries. The Prescription Drug Pricing Reduction Act of 2019 would curtail runaway drug price hikes in America and cap out-of-pocket costs for patients on Medicare, who can face more than $15,000 a year in drug costs.
“President Trump supports the Senate bill, and now we’re asking Senators Mitt Romney and Mike Lee to cosponsor this important bipartisan legislation,” said David Mitchell, a cancer patient and the founder of Patients For Affordable Drugs Now. “Senator Romney has supported the FAIR Drug Pricing Act and Sen. Lee is a cosponsor of the CREATES Act, which would curtail anticompetitive practices. We want the senators to know patients are grateful and ask them to keep fighting by supporting the Senate bill.”
Today’s ads are part of the multi-million dollar campaign Patients For Affordable Drugs Now launched last month that features patients speaking out in support of proposals in the House and Senate to rein in skyrocketing drug prices. The campaign features TV, digital, and radio ads across the country that show the toll high prescription drug prices are taking on everyday Americans. In addition to paid media, the effort features visits from patients to Washington to share their stories in person and gives patients a suite of tools to contact their representatives in support of lowering drug prices.
Big Pharma is spending millions to distort, demonize, and relentlessly attack these proposals because the changes could actually break the rigged system that keeps pharma profits high and patients’ costs skyrocketing.
Americans overwhelmingly support action to lower drug prices. Eighty-six percent of Americans — majorities of Democrats, Republicans, and Independents — support allowing Medicare to negotiate. Nearly 1 in 3 adults report not taking their medicines as prescribed due to cost.
The mission of Patients For Affordable Drugs Now is to educate the public and mobilize patients to advocate for policies to curb runaway drug prices in America. Touted by The Hill as “a leading drug pricing advocacy group,” Patients For Affordable Drugs Now is a bipartisan non-profit organization established under Section 501(c)(4) of the Internal Revenue Service code. As a 501(c)(4), P4ADNow engages in electoral activity and direct advocacy in support of legislation that would lower drug prices.
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PHOENIX — As rising drug prices continue to crush patients and the window for Congress to act closes, Patients For Affordable Drugs Now expanded its multi-million dollar campaign into Arizona to ask Sen. Martha McSally to support a key bill in the Senate that would protect Americans from unjustified drug price hikes.
Watch the ad campaign video, “Ashley.”
Currently, the average American pays two to three times more for prescription drugs than citizens in other wealthy countries. The Prescription Drug Pricing Reduction Act of 2019 would curtail runaway price hikes in America and cap out-of-pocket costs for patients on Medicare, who can face more than $15,000 a year in drug costs.
“President Trump supports the Senate bill, and now, we’re asking Senator McSally to join in calling for a vote on this important legislation,” said David Mitchell, a cancer patient and the founder of Patients For Affordable Drugs Now. “Patients are asking her to stand with us — not Big Pharma.”
Today’s ads are part of the multi-million dollar campaign Patients For Affordable Drugs Now launched last month that features patients speaking out in support of proposals in the House and Senate to rein in skyrocketing drug prices. The campaign features TV, digital, and radio ads across the country that show the toll high prescription drug prices are taking on everyday Americans. In addition to paid media, the effort features visits from patients to Washington to share their stories in person and gives patients a suite of tools to contact their representatives in support of lowering drug prices.
Big Pharma is spending millions to distort, demonize, and relentlessly attack these proposals because the changes could actually break the rigged system that keeps pharma profits high and patients’ costs skyrocketing.
Americans overwhelmingly support action to lower drug prices. Eighty-six percent of Americans — majorities of Democrats, Republicans, and Independents — support allowing Medicare to negotiate. Nearly 1 in 3 adults report not taking their medicines as prescribed due to cost.
The mission of Patients For Affordable Drugs Now is to educate the public and mobilize patients to advocate for policies to curb runaway drug prices in America. Touted by The Hill as “a leading drug pricing advocacy group,” Patients For Affordable Drugs Now is a bipartisan non-profit organization established under Section 501(c)(4) of the Internal Revenue Service code. As a 501(c)(4), P4ADNow engages in electoral activity and direct advocacy in support of legislation that would lower drug prices.
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