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“You Have Chosen to Price a Drug At a Point That Is Unaffordable”: Drug Company CEOs Put Their Reckless Greed on Full Display at Senate HELP Hearing

By February 8, 2024No Comments

Washington, D.C. — Today, CEOs of top drug companies went before the Senate HELP Committee to try to justify their outrageous prices. The CEOs of Bristol Myers Squibb, Johnson & Johnson, and Merck all produce some of the highest-priced drugs on the market, and they continue to bring in record profits, lining the pockets of executives and shareholders, all while charging consumers in other countries less for the same drugs. In response, Protect Our Care Executive Director Brad Woodhouse issued the following statement: 

“These CEOs ought to be ashamed of themselves. They are lying to the American people by claiming they have to charge Americans four times more than people in other countries for the same drugs. As millions of Americans struggle to afford their prescription drugs, there is no defense for these sky-high prices. Drug company greed knows no bounds. All of these companies are in court right now trying to take away Medicare’s power to negotiate lower drug prices. They are working with Republicans to repeal all of the Inflation Reduction Act’s drug pricing measures. Drug companies are fighting tooth and nail to hike costs on seniors and families — all in the name of corporate profit.”