News Comes as Big Drug Companies Are in Court to Overturn Inflation Reduction Act’s Medicare Negotiation Program
Washington, DC — A new report from Accountable US shows that the five largest pharmaceutical companies (Eli Lilly, Johnson & Johnson, Merck, AbbVie, and Pfizer) raked in $81.9 billion in 2022 — an $8 billion increase from the previous year. In response, Protect Our Care Executive Director Brad Woodhouse issued the following statement:
“Pharmaceutical greed knows no bounds. Right now, Americans are cutting pills and skipping doses because they can’t afford the prescription drugs that keep them alive. While drug companies continue to rake in record profits, they are crying wolf saying that any policy to make drugs more affordable for patients will harm innovation. Some of the top-earning drug companies are the same companies that are going to court to reverse the Inflation Reduction Act’s Medicare negotiation program, which would make prescription drugs more affordable for our nation’s seniors. It’s a complete disgrace that drug companies continue to put massive profits over a little bit of relief for seniors.”