In Senate testimony, pharma executive admits drug prices hit poor the hardest

Win McNamee / Getty ImagesGet breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.WASHINGTON — Top executives from seven major pharmaceutical companies told a Senate committee on Tuesday they could not commit to lower the price of commonly used prescription drugs even as they admitted that they control those prices. And one executive acknowledged that the high cost of medicines hits poorest patients the hardest.

“The people who can least afford it are paying the most,” Frazier said. “That’s the biggest problem we have as a country," he said."We have a system where the poorest and the sickest are subsidizing others.”It was a rare bipartisan grilling of executives of a powerful industry who insist that prices have stabilized in 2018 and 2019. Sen. Ron Wyden of Oregon, the ranking Democrat on the committee, said that it’s up to the drug companies to lower prices.

Tuesday was the first major hearing with CEOs on their pricing practices since Mylan CEO Heather Bresch was brought before the House Oversight Committee inBecause the issue affects millions of Americans, tackling rising drug prices is a politically advantageous issue for lawmakers. But to implement any legislative change, they will have to battle with a powerful industry that donates generously to political efforts and spend millions of dollars trying to influence legislation.

Some senators connected the large salaries of executives or the profitability of the company to drug costs.

Is there any way the government can force them to lower their prices or are we at their demand

Hit the with 75% income tax then give tax credit to people on prescriptions

They should talk to their doctors about whether ResignX is right for them.

Lock them up

This makes me sick. Between big pharmaceutical and insurance companies, you can’t get sick. Pharma makes the prices out of reach and the insurance companies limit your meds. No matter how much pain your in. They need to be regulated. Period.

They certainly do not care about people.

Democrats want to keep people sick. There's no money to be made if everyone is healthy!

But realDonaldTrump said they were being lowered? So confused, you mean he lied again

Wow, seriously!

Then why are American tax dollars being used to support these companies? Maybe its because most of Washington is in their pocketbooks. This is the issue facing America today. A inept Congress, corruption at the top leadership of our government. And media ignores.

And the Senators that receive their bribes (campaign donations) nod in disapproval. What a joke.

A bunch of corporate greed executives.

They should be ashamed of themselves, people suffer but they don't care as long as their profits keep going up, they've all got the mark of the beast on them!

If they won’t do it themselves, make them. Greedy bastards.

Could not means will not and won’t. Greed ain’t good anymore guys!

Money 💰Grabbers at Deaths doorsteps...,of those who need these 💉drugs to survive..!

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