How does big pharma keep drug prices so high? Follow the money.

3 mins read
How does big pharma keep drug prices so high? Follow the money.

Big pharma claims to serve public health, but spends billions on political lobbying and multimillion dollar executive salaries.

Is corporate greed and political donations the real obstacle to lowering drug prices? Follow the money in this interactive relationship map. Click anywhere to see the connections and money flow.

Big Pharma spends billion on political lobbying to keep drug prices high.

This infographic was created with the free Kumu app using publicly available data. It can be freely shared with this link https://embed.kumu.io/c74d93de625c9fb1fa35f35b6cb7a15f or embedded in a website with this line of code:

< iframe src=”https://embed.kumu.io/c74d93de625c9fb1fa35f35b6cb7a15f” width=”940″ height=”600″ frameborder=”0″></iframe>

Big pharma spends billions on political lobbying

The lobbying power of the big drug companies means they are ripping off the government and charging the American people any price they want. Not only that. Because of the power of the pharmaceutical industry all Americans are forced to pay, by far, the highest prices in the world for prescription drugs. This absurdity must end.

Negotiating drug prices is what every other major country on earth does. The Veterans Administration does it. Only Medicare is prohibited from taking this obvious step. What we are fighting for now is the very definition of a win-win-win situation. Seniors pay lower prices for prescription drugs and receive hearing, vision and dental care. Millions more Americans become eligible to participate in the Medicare program. And we lower prescription drug costs for all Americans,” said Bernie Sanders. – The Guardian

Big pharma spends heavily to lobby politicians to keep drug prices high.

Swinging door between politicians and lobbyists

“Schrader’s longtime top aide, Paul Gage, left the congressman’s office earlier this year, according to Legistorm, and quickly started lobbying for Pharmaceutical Research and Manufacturers of America (PhRMA), the powerful Washington drug lobby. Gage has been lobbying Congress on drug pricing issues and HR 3, according to ethics records. PhRMA raised more than $500m in 2019, and the organization is one of the top lobbying spenders in DC.” – The Guardian

Bringing drug prices down

“The Biden administration on Thursday endorsed an aggressive proposal to limit prices for prescription drugs, calling for the government to negotiate with drug makers on prices and applying those prices not just to Medicare but to all drug purchasers in the country. The proposal from the Department of Health and Human Services, was included a range of recommendations to foster more competition among drugmakers and improve the affordability of drugs for patients enrolled in Medicare.” – NY Times

President Biden proposes to bring drug prices down and fight corporate greed.

TakeAway: Corporate greed and political lobbyists deny affordable drugs to millions of Americans. Follow the money with a mind map to see how big pharma keeps drug prices so high.

Deepak
DemLabs

Reposted from Democracy Labs with permission.


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