'The CEOs of America’s largest drug companies will testify on Capitol Hill today. But will U.S. senators really hold their feet to the fire after taking so much money from those same drug companies?
Starting at 10:15 am ET (7:15 am PT), the Senate Finance Committee will have the opportunity to question the CEOs of Bristol-Myers Squibb, Johnson & Johnson, Merck, Pfizer, Sanofi, AbbVie, and AstraZeneca. A livestream of the testimony will be available at the U.S. Senate Committee on Finance’s website.
Americans pay the highest drug prices in the world for absolutely no good reason. The drug companies will tell you that it’s because American consumers are financing “innovation,” but the real reason is that the U.S. doesn’t have price control laws that limit what drug companies can charge, unlike much of the world and every wealthy country. And U.S. senators, both Republicans and Democrats alike, are each raking in thousands of dollars every year from the pharmaceutical industry.
The drug companies spent over $230 million lobbying last year alone. But how much do senators on the Finance Committee get directly from Big Pharma? Thanks to the website Open Secrets, we know exactly how much they got last year. And it’ll be helpful to keep that information in mind as these same people are questioning the drug company CEOs today.'
Read more: Big Pharma Gives Big Money to the Senators Who Will Question Drug Company
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