Sen. Bernie Sanders Demands Action on Corporate Greed in the Pharmaceutical Industry
US Bernie Sanders (I-Vt.) recently wrote an opinion piece published by Fox News as he prepares to take charge of the Senate Health, Education, Labor, and Pensions (HELP) Committee, stressing that despite national divisions, the American people—Democrats, Republicans, Independents, Progressives, Conservatives—could not be more united on the need to take on the unprecedented corporate greed of the pharmaceutical industry and to substantially lower the outrageously high price of prescription drugs.[0]
“All over this country, the American people are asking, why it is that they pay, by far, the highest prices in the world for prescription drugs? Why is it that nearly 1 out of every 4 adults in America cannot afford their prescription medication? Why do nearly half of all new drugs in the United States cost more than $150,000 a year?”[0] Sanders composed.[1]
The pharmaceutical industry is rife with examples of corporate greed.[2] For instance, Sanders detailed how Moderna received $1.7 billion from US taxpayers to research and develop the Covid-19 vaccine and billions more to distribute it to the American people, yet plans to hike the price.[2] “As a result, Moderna made $19 billion in profits over the past two years and its CEO [Stephane Bancel] became a billionaire who is now worth over $6 billion,” Sanders composed.[1][1]
According to a Wall Street Journal report, Pfizer and Moderna have plans to increase the cost of their Covid vaccine fourfold once the government contracts for purchasing them expire. It is expected that the price per shot will be between $110 and $130.[3] When asked if that includes summoning drug company executives to testify, Senator Sanders replied, “We're working on a strategy right now that will be very aggressive.”[4]
“Today, millions of Americans are making the unacceptable choice between feeding their families or buying the medicine they need. Seniors from Vermont to Alaska are forced to split pills in half and many have died because they did not have enough money to fill their prescriptions,” Sanders composed.[2][1]
He asked, “How is it that in Canada and other major countries the same medications manufactured by the same companies, sold in the same bottles are available for a fraction of the price that we pay in the United States? The answers can be summed up in three words: Follow the money.”[0]
0. “Bernie Sanders Blasts Big Pharma on Fox News?” Yonkers Times, 28 Jan. 2023, https://yonkerstimes.com/bernie-sanders-blasts-big-pharma-on-fox-news
1. “Bernie Sanders Plans War on Big Pharma as HELP Chairman” The Epoch Times, 30 Jan. 2023, https://www.theepochtimes.com/bernie-sanders-plans-war-on-big-pharma-as-help-chairman_5020039.html
2. “In Fox News Opinion Piece, Sanders Takes Aim at Big Pharma Greed” Common Dreams, 23 Jan. 2023, https://www.commondreams.org/news/bernie-sanders-big-pharma
3. “Drug Price Showdown Time for Chairman Bernie Sanders” CounterPunch, 30 Jan. 2023, https://www.counterpunch.org/2023/01/30/drug-price-showdown-time-for-chairman-bernie-sanders/
4. “Drug companies brace for Bernie Sanders” Axios, 26 Jan. 2023, https://www.axios.com/pro/health-care-policy/2023/01/26/drug-companies-brace-for-bernie
