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NEW REPORT: How High Drug Prices Hurt Small Businesses

Protect Our Care & Small Business for America’s Future Release New Report As Part of Lower Rx Summer

Today, Protect Our Care is kicking off Week 7 of Lower Rx Summer with a report co-sponsored by Small Business for America’s Future underscoring how high drug prices hurt small businesses. Throughout the week, Protect Our Care will host events and release additional research to demonstrate the urgency for drug pricing reform. Lowering drug prices would help small businesses recover from the pandemic and thrive for years to come. 

KEY POINTS:

  • The rising cost of prescription drug prices is crushing small businesses. Nearly one in three small businesses currently providing health benefits to their workers have considered ending their sponsored coverage largely as a result of rising health care costs. 93 percent of small business owners believe the prescription drug market needs to undergo changes, with 66 percent calling for a major overhaul. 
  • Small businesses are forced to pass along the increased costs of providing coverage to customers and workers. Many small businesses report wanting to “do the right thing” when it comes to providing health coverage for their workers. Tragically, that goal is being pushed increasingly out of reach, as many owners are being forced to raise prices on goods and services and/or increase deductibles and premiums in order to continue providing coverage. 
  • Small businesses demand bold action to lower prescription drug prices. Regardless of where they sit on the political spectrum, small business owners want strong government action on this issue, with 87 percent stating it is important for the Biden-Harris administration and Congress to lower prescription medication prices. In a recent survey, small business owners overwhelmingly supported solutions such as capping out-of-pocket costs for seniors, Medicare negotiating drug prices, prohibiting anti-competitive behaviors that delay price competition, and penalizing drug companies that increase their prices faster than inflation. 

“The cost of healthcare and prescription drugs have skyrocketed for many small businesses and it’s having a real impact on their growth,” said Small Business for America’s Future Co-Chair Erika Gonzalez, an Allergy & Asthma Medical Professional and small business owner based in San Antonio. “If we are going to have a strong small business sector and economic recovery, we need our policymakers to act to rein in these costs. It’s an urgent priority of small businesses.”

“The American economy is paying the price for high drug costs,” said Protect Our Care Chair Leslie Dach. “As prescription drug prices skyrocket, small businesses are paying more and more for health care, forcing them to increase costs and lower wages, all while big drug companies are spending billions on stock buybacks and shareholder dividends. The future of small businesses depends on standing up to Big Pharma’s greed and giving Medicare the power to negotiate for lower drug prices.” 

In June, Protect Our Care announced Lower Rx Summer as part of The Campaign to Reduce Drug Prices. Lower Rx Summer consists of themed weeks of action to illustrate the urgent need for legislation to lower drug prices principally by giving Medicare the power to negotiate with drug companies for lower prices for all Americans.

Remaining Theme Weeks for Lower Rx Summer
Week 7 (July 19): How High Drug Prices Hurt Small Businesses
Week 8 (July 26): How High Drug Prices Hurt Children
Week 9 (August 2): Expanding Medicare Benefits—Dental, Vision, And Hearing

Read the new report on how high drug costs hurt small businesses here.

NEW AD: Protect Our Care Launches Second AZ Ad in Seven-Figure Campaign Featuring Patient Who Needs Action To Lower Drug Prices

“Angie” Is Running on Digital Platforms Statewide

Watch the 30-Second Ad Here

Watch the 15-Second Ad Here

Arizona — Protect Our Care recently launched its second digital ad in Arizona as part of a seven-figure ad campaign about prescription drug prices. The ad features Angie, a patient storyteller from Phoenix who has difficulty paying for prescription drugs that keep her alive after a major heart attack. In the ad, Angie tells her personal story of struggling to afford lifesaving prescriptions and relays the importance of giving Medicare the power to negotiate with drug companies for lower prices for all Americans. 

The ad is part of The Campaign to Reduce Drug Prices, a grassroots and communications campaign calling for comprehensive legislation to lower drug prices. The ad is running on digital platforms, focusing particularly on older Arizonans. Protect Our Care will continue to run ads and host events both nationally and in 14 key states, including Arizona, throughout the summer.

“Angie’s story is all too familiar in Arizona and across the country,” said Protect Our Care Executive Director Brad Woodhouse. “While drug companies spend billions on stock buybacks, raise executive pay, and continue to hike the price of drugs, millions of Americans are forced to choose between paying for the medicines they need to live or paying for food or rent. Americans should not have to pay two or three times more for their medicines than people in other countries. It’s time for Arizona lawmakers to do the right thing and support giving Medicare the power to negotiate for lower drug prices. The time to act is now.”

Script for “Angie” (:30s):

I just got out of the hospital with this widowmaker heart attack.

This huge event that is devastating financially for me.

And I just remembered the most important drug that I have to take was over $600 

and I was like, “am I going to have to pay this every single month?”

Families can’t even afford their prescription for life-saving drugs.

We need to lower drug prices for everyone.

Script for “Angie” (:15s):

I just got out of the hospital with this widowmaker heart attack 

and the most important drug that I have to take was over $600 

and I was like, “am I going to have to pay this every single month?”

We need to lower drug prices for everyone.

HEADLINES: Two Million Americans Gain Coverage During President Biden’s Special Enrollment Period

Yesterday, the Department of Health and Human Services announced that two million Americans have signed up for insurance through the Affordable Care Act (ACA) marketplaces during President Biden’s special enrollment period. The Biden administration opened the SEP to ensure people could get coverage as they faced economic hardship and job loss as a result of the coronavirus pandemic. Importantly, many of the new enrollees have been able to take advantage of the dramatic savings under the American Rescue Plan, with more than a third of new and returning enrollees selecting plans for $10 or less per month. Coverage of this historic enrollment period makes it clear that the wave of signups are a direct result of the American Rescue Plan’s provisions to dramatically reduce premiums costs. 

HEADLINES:

The Hill: More Than 2 Million Sign Up During Obamacare Special Enrollment Period. “A total of 1.5 million Americans have enrolled in coverage through HealthCare.gov throughout the special signup period, while another 600,000 have signed up through the 15 state-based marketplaces, the Department of Health and Human Services (HHS) announced.” [7/14/21]

New York Times: Obamacare Enrollments Have Risen By 2 Million, Reaching A Record High, Since Biden Reopened Them In February. “The increases reflect a growing demand for insurance coverage during the pandemic, when many Americans lost job-based coverage or became more worried about remaining uninsured. But they also reflect major policy changes this year: Congress passed legislation that substantially lowered the price of insurance for nearly all Americans buying their own coverage.” [7/14/21]

HuffPost: Obamacare Marketplace Sign-Ups Pass 2 Million, Likely Pushing Down Uninsured Rate. “That figure means total marketplace enrollment is probably at an all-time high, while the number of uninsured Americans may be at an all-time low. In both cases, a big reason would be a set of temporary improvements to the Affordable Care Act that Biden and Democrats are now trying to make permanent.” [7/14/21]

Roll Call: HHS 2 Million People Choose Health Plans During Enrollment Period. “Centers for Medicare and Medicaid Services Administrator Chiquita Brooks-LaSure told reporters the agency doesn’t have updated numbers of the total number of people enrolled in marketplace plans, but she called it a “fair assumption” that marketplace enrollment is at an all-time high.” [7/14/21]

CNN: More Than 2 Million Americans Sign Up For Affordable Care Act Coverage Under Biden’s Special Enrollment Period. “Some 1.5 million people have signed up on the federal exchange, healthcare.gov, while more than 600,000 have selected policies in the 14 states and the District of Columbia that run their own exchanges. In addition, among new and returning consumers who have selected a plan since April 1, some 1.2 million, or 34%, picked policies that cost $10 or less per month when factoring in the enhanced premium subsidies made available by the Democrats’ $1.9 trillion American Rescue Plan. About 2.5 million enrollees have returned to the exchange to see what’s available.” [7/14/21]

Reuters: Over Two Million Americans Sign Up For Obamacare Under Biden Drive. “About 1.5 million Americans opted to sign up for insurance on U.S. government website Healthcare.gov while 600,000 more enrolled in coverage through the 15 state-based marketplaces.” [7/14/21]

Becker’s Hospital Review: ACA Special Enrollment Exceeds 2 Million. “The majority of enrollees used healthcare.gov (1.5 million) while the rest (600,000) used a state marketplace. Both numbers are sure to grow as the SEP spans through Aug. 15, but Medicaid and Children’s Health Insurance Program membership are at a record-high 81 million.” [7/14/21]

MSNBC (Maddow Blog): Biden’s ACA Special Enrollment Period Reaches 2 Million Americans. “Some will see their premiums cut in half, while millions will see their premiums fall to literally zero, thanks entirely to the investments in the American Rescue Plan. That’s working well, too: the Department of Health and Human Services recently announced that after the new ACA benefits kicked in on April 1, nearly 2 million consumers — who already had coverage — returned to the marketplace and reduced their monthly premiums.” [7/14/21]

Democrats’ Budget Agreement Includes Historic Health Care Investments That Will Transform the Lives of Millions of Americans

This week, Senate Democrats unveiled a $3.5 trillion proposed FY2022 Budget Resolution framework that would make historic investments in Americans health care. The proposal, which has the strong support of President Biden, lowers the cost of prescription drugs, expands Medicare benefits to include vision, dental and hearing, closes the Medicaid coverage gap, and extends the premium reductions under the American Rescue Plan so millions of people can continue to afford their coverage. In response, Protect Our Care Executive Director Brad Woodhouse issued the following statement:

“After years of Republican efforts to rip away health care, the health care principles outlined in the Senate Democrats’ budget resolution framework represent a huge milestone in the fight for affordable care. Under the leadership of President Biden, Congress has a once-in-a-generation opportunity to meaningfully improve the health and well-being of millions of Americans, and as we come out of this pandemic, improving access to care could not be more urgent. This framework demonstrates that Democrats are committed to delivering on their promises for the American people. Well done.” 

BY THE NUMBERS

  • 53 percent of American adults, or roughly 130 million people, take prescription drugs in the U.S. and stand to benefit from legislation to lower drug prices. 
  • Nearly 38 million traditional Medicare enrollees would gain vision, dental, and hearing coverage. 
  • More than 2 million uninsured people stuck in the coverage gap would get access to quality, affordable insurance.
  • 4.2 million uninsured people would gain coverage if the American Rescue Plan’s subsidies are made permanent, and millions more would continue to save on health care costs.

U.S. Senator Reverend Raphael Warnock, Georgia Health Care Advocates, Storytellers, and Protect Our Care Discuss Senator Warnock’s Medicaid Saves Lives Act

Call Comes After New Report Outlines Urgent Need for Federal Approach to Provide Relief to Millions of People Who Have Been Locked Out of Coverage

Listen to the Call Here

Atlanta, GA — Today, U.S. Senator Reverend Raphael Warnock (D-GA) joined Georgia health care advocates and storytellers and Protect Our Care to discuss the Medicaid Saves Lives Act — the Senator’s historic legislation to create a federal program to extend coverage to millions of people stuck in the coverage gap in states that have refused Medicaid expansion.

An estimated four million uninsured adults could gain coverage if the remaining holdout states adopted expansion. Importantly, people of color make up nearly 60 percent of this group. In Georgia, 275,000 adults in the coverage gap would be eligible for coverage through Medicaid expansion.

“Expanding Medicaid is the single most effective solution to closing our state’s coverage gap. I introduced the Medicaid Saves Lives Act to make this solution real,” said U.S. Senator Reverend Raphael Warnock. “Expanding Medicaid in Georgia would extend health care coverage to nearly 500,000 low income Georgians, improve health outcomes, create tens of thousands of jobs, and bolster our rural hospitals. I’m going to keep pushing as hard as I can to pass this critical provision in the next economic package.”

“The Medicaid Saves Lives Act would build a bridge over the coverage gap, allowing 2.2 million Americans to newly and meaningfully take part in our health care system,” said Laura Colbert, the Executive Director, Georgians for a Healthy Future. “This move would reduce racial disparities in health care, prevent cancer deaths, improve maternal health outcomes, and strengthen economies across the South. All of these benefits will accrue to a greater extent in rural communities.”

“I am proud and thankful for Senator Warnock’s leadership in introducing the Medicaid Saves Lives Act. Closing the Medicaid coverage gap will profoundly improve health care access in this country, said Nedra Fortson, a nurse practitioner who runs a free health care clinic in Albany, Georgia. “At Samaritan Clinic, we have seen these Coverage Gap scenarios play out over the past 14 years, but the Medicaid Saves Lives Act gives me hope that soon our communities will be able to expand the health care access that we desperately need.”

“Waiting for Georgia and the eleven other states that have refused to expand Medicaid to do the right thing is no longer a viable option,” said Protect Our Care Georgia State Director Joe Binns. “Senator Warnock and Congressional Democrats are stepping up to the plate, and leading with a bold new approach for the federal government to close the expansion gap, and Congress must take action now to make it a reality. Georgians, and millions of uninsured people across the country have waited long enough.”

You can listen to the call audio here, and learn more about how the Medicaid program can save lives and improve health outcomes in Georgia by reading this new report from Protect Our Care.

More Than Two Million People Have Gained Coverage Thanks to President Biden’s Special Enrollment Period

Two Million People Have Signed Up for ACA Coverage Since February

Washington, DC — Today, the Department of Health and Human Services announced that two million Americans have signed up for insurance through the Affordable Care Act (ACA) marketplaces since President Biden opened a special enrollment period in February. Importantly, many of these enrollees have been able to take advantage of the dramatic savings under the American Rescue Plan, with more than a third of new and returning enrollees selecting plans for $10 or less per month. Americans can continue to enroll in ACA coverage through August 15. In response, Protect Our Care Chair Leslie Dach issued the following statement: 

“Two million more Americans have health care because Joe Biden is our president. The message is clear: after years of Republican attacks on our health care, Democrats are committed to expanding and improving care for all Americans. Now, Congress has a once-in-a-generation opportunity to build on the success of the ACA and lower the cost of prescription drugs, expand Medicare benefits, and close the Medicaid coverage gap. These essential measures are included in the agreement made by Senate Democrats on the forthcoming budget resolution and have strong support from President Biden — a true health care champion. As we recover from the coronavirus pandemic, it is imperative that we make health care better, more accessible and more affordable for all Americans.” 

NEW REPORT: Closing the Medicaid Coverage Gap in Georgia

New Report Outlines Urgent Need for Federal Approach to Provide Relief to Millions of People Who Have Been Locked Out of Coverage

Report Comes After Sen. Warnock Released Bold Legislation for the Federal Government to Close the Coverage Gap

Washington, DC — Today, Protect Our Care is releasing a report on the impacts of the Coverage Gap in Georgia, one of 12 states that refuse to expand Medicaid. Americans with low incomes should not be forced to go without health coverage simply because they live in a state that has refused Medicaid expansion. According to the report, nearly 646,000 Georgians could gain coverage if Medicaid were expanded.

However, despite hundreds of billions of dollars in financial incentives in the American Rescue Plan, state leaders continue to stand in the way of expansion, leaving hundreds of thousands of Georgia families without access to quality, affordable care. 

In response to Republican inaction in states like Georgia, President Biden and Congressional Democrats are working to bypass state governments who refuse to do the right thing. Just this week, Senator Reverend Raphael Warnock (D-GA) introduced legislation creating a federal solution to finally expand Medicaid coverage to millions of people stuck in the coverage gap.

The POC report comes after leaders of the Congressional Tri-Caucus, which includes the Congressional Asian Pacific American Caucus (CAPAC), Congressional Black Caucus (CBC), and Congressional Hispanic Caucus (CHC), joined more than 60 of their colleagues on a letter advocating for closing the coverage gap through the American Families Plan.

“For too long leaders in Georgia and the other non-expansion states have put politics over people, refusing to strengthen public health by expanding Medicaid. And this robust report details how the nearly 275,000 Georgians who are in the coverage gap and the 500,000 Georgians who would be eligible for Medicaid have paid the highest price for these decisions,” Senator Reverend Warnock said. “This timely report underlines the urgency with which Congress must act to ensure hardworking people with low-incomes have access to affordable health care, and I’m going to keep pushing the Senate hard to include my legislation to close the coverage gap and provide affordable health care to millions of Georgians and Americans in the next recovery package.”

“Waiting for the Republican leaders in Georgia and the 11 other states that refuse to expand Medicaid to change course is no longer a viable option,” said Protect Our Care Executive Director Brad Woodhouse. “By refusing to expand Medicaid in their state, Georgia Republican lawmakers are denying coverage to their most vulnerable populations, including thousands of Georgians of color. Despite the overwhelming benefits of Medicaid expansion, and even with the additional incentives included in the American Rescue Plan, Republicans have put politics over people by continuing to reject the program. Senator Warnock and Congressional Democrats are now leading with a bold new approach for the federal government to close the expansion gap, and Congress must take action now to make it a reality.”

Read the new report on closing the coverage gap in Georgia here.

Read the previous reports on Florida, North Carolina, South Carolina. Texas, and Wisconsin.

Senate Democrats Introduce “Medicaid Saves Lives Act” To Close The Coverage Gap and Extend Coverage To Millions of Americans

Yesterday, Senator Reverend Raphael Warnock (D-GA) along with Senators Jon Ossoff (D-GA) and Tammy Baldwin (D-WI) introduced legislation to create a federal program extending coverage to millions of people stuck in the coverage gap in states where Republicans have refused to adopt Medicaid expansion. For years, Republican lawmakers have waged a war against Medicaid expansion despite overwhelming evidence that it reduces racial disparities in health care, strengthens economies, and saves lives. And despite robust incentives included in President Biden’s American Rescue Plan, Republicans in 12 states have refused to act, underscoring the need for a federal solution. In response, Protect Our Care Chair Leslie Dach issued the following statement:

“Closing the Medicaid coverage gap is a no-brainer for lawmakers looking to profoundly improve health care access in this country. This legislation demonstrates Democrats’ commitment to expanding coverage to millions of people and builds momentum as Congress debates closing the gap in forthcoming infrastructure legislation. We commend Senators Warnock, Ossoff and Baldwin for stepping in after Republican politicians failed to do the right thing for their constituents.” 

COVERAGE

AP: Senators Seek Medicaid-Like Plan To Cover Holdout States. “The bill would mandate a new health insurance plan that looks just like Medicaid offered to residents in holdout states. The plan would require no premiums and only small copayments, while those costs can be much higher for individuals on the marketplace. People can enroll in Medicaid year-round, while marketplace enrollment is typically only in the fall, or when someone’s circumstances change.” [7/12/21]

  • The Bill Would Provide Premium Free Health Access. “The plan would require no premiums and only small copayments, while those costs can be much higher for individuals on the marketplace. People can enroll in Medicaid year-round, while marketplace enrollment is typically only in the fall, or when someone’s circumstances change.” [AP, 7/12/21]
  • The Proposal Would Require No State Contributions. “Sponsors say coverage is already paid for because the original Affordable Care Act included money for all 50 states. States normally shoulder 10% of the cost, but the bill would require no state contributions.” [AP, 7/12/21]
  • The Bill Also Improves Expansion Incentives For States To Expand On Their Own. “The plan also would boost incentives for holdout states to expand on their own. It would raise the federal share of state-federal Medicaid spending by 10 percentage points this coming decade.” [AP, 7/12/21]

The Hill: Senate Democrats Call For Medicaid-Like Plan To Cover Non-Expansion States. “The legislation would mandate the creation of a federal Medicaid “look-alike” program administered by the federal government. It would provide the same essential benefits of Medicaid, and would not charge any premiums or large copayments.” [7/12/21]

Milwaukee Journal Sentinel: Tammy Baldwin Co-Sponsors Bill To Expand Medicaid To Wisconsin And 11 Other Republican-Controlled States. “Baldwin and Georgia’s Democratic U.S. Senators Raphael Warnock and Jon Ossoff introduced a bill Monday to provide health coverage to an additional 4 million Americans — including about 90,000 Wisconsinites — who live in states that did not fully expand Medicaid…the Medicaid Saves Lives Act would direct the Centers for Medicare & Medicaid Services to create ‘a federal Medicaid look-alike program, which would provide the same full, essential benefits of Medicaid, but run and administered at the federal level’.” [Milwaukee Journal Sentinel, 7/12/21]

Wisconsin Examiner: Baldwin, Georgia Senators Propose Federal Alternative For States That Refuse Medicaid Expansion. “The new federally funded and administered program would provide the same benefits as Medicaid expansion offers, but without state involvement. The legislation also would include a financial incentive for states to expand their Medicaid program.” [Wisconsin Examiner, 7/13/21]

WRDW: Warnock, Ossoff Push Medicaid-like Plan For Low-income Americans. “The Medicaid Saves Lives Act would direct the Centers for Medicare & Medicaid Services to create and run a federal Medicaid look-alike program [that] would mirror the full, essential benefits of Medicaid. The legislation would also add to the significant financial incentives included in the American Rescue Plan for states to expand Medicaid, giving these states an additional and extended federal medical assistance percentage increase.” [WRDW, 7/13/21]

Protect Our Care Praises Senator Warnock’s Legislation To Close The Medicaid Coverage Gap

Senator Warnock’s Legislation Would Expand Coverage To Millions, Including 2.4 Million People of Color

Washington, DC — Today, Senator Reverend Raphael Warnock (D-GA) introduced legislation creating a federal solution to expand Medicaid coverage to millions of people stuck in the coverage gap in 13 states where Republicans have refused to expand Medicaid. Protect Our Care Chair Leslie Dach praised the legislation in a statement:

“Medicaid expansion reduces racial disparities in health care, creates healthier communities and strengthens economies. It is the single most important thing Congress can do to address the racial inequities laid bare by the pandemic. If we fail to expand Medicaid, we fail millions of people,” said Protect Our Care Chair Leslie Dach. “Congress must close the coverage gap once and for all. People of color, women, children, older adults, people with disabilities and so many more will benefit from this legislation, and we commend Senator Warnock’s leadership in ensuring better access to care.” 

HEADLINES: House Report Highlights Drugmaker Greed, Need for Congressional Action to Lower Drug Costs

Yesterday, the House Committee on Oversight and Reform released a report detailing how large pharmaceutical corporations have used skyrocketing drug prices to line the pockets of CEOs and investors, while spending billions less on research and development. Specifically, between 2016 and 2020, 14 leading drugmakers spent $577 billion on stock buybacks and dividends—$56 billion more than what was invested in research and development over the same period. One company, Amgen, spent nearly six times more on executive pay, buybacks, and dividends than it did on research and development in 2018. If allowed to continue on this trajectory, these 14 corporations are projected to spend $1.15 trillion on buybacks and dividends between 2020 and 2029 — more than twice of what H.R. 3 is projected to save over the same period. 

The report also revealed that when these drugmakers did invest in research and development, many spent large portions of their budget developing methods to suppress generic and biosimilar competition that would make life saving drugs more affordable for the American people. 

This Oversight Committee’s report underscores the urgent need for Congress to take action now to  pass the Lower Drug Costs Now Act (H.R. 3) to give Medicare the power to negotiate for lower drug prices.. 

HEADLINES:

STAT News: House Democrats Say Pharma Stock Buybacks And Dividends Exceed R&D Spending. “Assuming the same rate of spending going forward, the drug makers are projected to spend $1.15 trillion on buybacks and dividends from 2020 through 2029. This would exceed by more than twice the amount that the Congressional Budget Office projected would be saved over the same period by a House bill – called H.R. 3 – that would allow Medicare to negotiate prices for certain drugs.” [STAT News, 7/8/21]

Kaiser Health News: Drugmakers’ Spending on Stock, Dividends and Executive Pay Exceeds Research, Democrats Say. “Contrary to pharmaceutical industry arguments that large profits fund extensive research and innovation, the major drug companies plow more of their billions in earnings back into their own stocks, dividends and executive compensation. And they can do it largely because Congress has imposed few restrictions on their pricing in the United States — including in the Medicare program, which is not permitted to negotiate drug prices.” [Kaiser Health News, 7/9/21]

The Hill: House Report: Drug Companies Spent More On Buybacks, Dividends Than Research. “Democrats sought to push back on the pharmaceutical industry’s argument that the bill would harm innovation, saying that drug companies could simply cut back on payouts to shareholders, rather than cutting research and development.” [The Hill, 7/8/21]

Bloomberg: Pelosi Slams Drugmaker Buybacks, Wants Price Cuts In Bill. “The House Democratic bill would allow Medicare to negotiate drug prices, and then force drug companies to lower the prices they charge private insurers or impose huge fines on the companies. Pelosi said she wants it to be part of a special budget bill.” [Bloomberg, 7/8/21]

Fierce Healthcare: House Dems’ Report Slams Drugmaker Stock Buybacks As Pelosi Presses To Give Medicare Negotiating Powers. “Democratic leadership slammed drugmakers’ most common defense that pricing reforms will lead to fewer new innovations. ‘How can pharma say with a straight face after spending $577 billion on buybacks and dividends in the last five years that lowering drug prices for Americans will have to come at the expense of research and development?’ said House Speaker Nancy Pelosi.” [Fierce Healthcare, 7/9/21]

Endpoints News: Pelosi Threatens To Slide Drug Pricing Reform Into Biden’s Budget Bill, Rejects Industry Pushback That Innovation Would Suffer. “From 2016 to 2020, the companies spent $56 billion more on stock buybacks and dividends — $577 billion — than on R&D, the report found. The projected number of spending on buybacks from 2020 to 2029 is $1.15 trillion for the same 14 companies.” [Endpoints News, 7/9/21]