Process
Status Items Output None Questions None Claims None Highlights Done See section below
Highlights
id590543717
“If passed, [the measure] will upend the same innovative ecosystem that brought us lifesaving vaccines and therapies to combat COVID-19,” said the president and CEO of Pharmaceutical Research and Manufacturers of America (PhRMA), Washington’s top drug lobby. “Under the guise of ‘negotiation,’ it gives the government the power to dictate how much a medicine is worth and leaves many patients facing a future with less access to medicines and fewer new treatments.”
✏️ The utterly despicable methods of PR being used by companies to fight against regulation and negotiated drug prices. They’ve somehow twisted it to say that the government is going to kill their innovation and somehow leave patients with less access to medicines. Their innovation is already heavily subsidized by taxpayers, and the last comment seems to be a veiled threat that they will stop access to medicines that they see won’t be as profitable for them. 🔗 View Highlight
id590543487
Between 2012 and 2021, not only did those firms spend 61 million, 93 percent of which came from realized gains from stock-based pay. In other words, the senior executives who decided to make payouts via buybacks and dividends were simultaneously enriching themselves, as the vast majority of their income came from the inflated price of the company stocks.
✏️ Data on how much the drug companies are profit driven, not just for their shareholders, but for the executives themselves. 🔗 View Highlight
id590543403
“It’s important to draw a distinction between regulating and negotiating,” said Lazonick. “The drug companies should be regulated — that is, the government should figure out what these companies need, the way you would with utility regulation and say, ‘Okay here’s what your drug price can be.’ In other countries, it’s not really a matter of negotiation.”
✏️ This is where we see the power of capitalism. They’ve made it so a government feels it can only negotiate on life-saving drugs instead of actually regulate it. 🔗 View Highlight