Opinion | The IRA Is Big Pharma's First Defeat—Let's Make Sure It's Not the Last

Big Pharma is terrified because they are no longer invulnerable.This past Sunday, Senate Democrats passed the Inflation Reduction Act . The IRA will give Medicare the power to negotiate lower prices on prescription drugs, along with taxing corporations and making necessary investments in climate infrastructure.

The PhRMA lobby group, which represents Big Pharma, is furious. They slammed the ​​IRA as a "price-setting scheme"—just because it stops pharmaceutical corporations from price-gouging seniors to the point of bankruptcy and death.Give Medicare the power to negotiate lower prices on key prescription drugs. Penalize pharma companies for raising Medicare drug prices faster than the rate of inflation.

Big Pharma is terrified because they are no longer invulnerable. By passing the IRA's modest drug pricing reforms, the Senate has opened the door. The IRA establishes that the government has the right to determine a"fair price" for prescription drugs. Once that's enshrined into law, it opens the door to additional legislation, and executive actions, to lower drug prices further.

anti_flag If they were invulnerable people would be able to sue if they were harmed by the drugs. Getting the same shitty drugs that are recalled by a rate of over 30% of drugs approved by fda, but for cheaper, isn’t a win.

😂😂😂😂😂😂 Big-Pharma has no better friend than the Democrat party … maybe Republicans, but it’s close. Go look-up the donor-list instead of shit-tweeting garbage.

That's right boss....the Big Pharma are trembling with fear and worry. They're on the ropes. Sure.

anti_flag The drug pricing reform doesn’t even go into effect for like 4+ years and even then it’s only slated to be 10 drugs in total. Big Pharma will most likely lobby their way out of this provision before that time comes. We need the senate to keep pushing not celebrating.

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