Big Pharma spending $263M to prevent Congress from lowering drug prices

[Yo_Mama_Been_Loggin]

Lowering prescription drug prices is among the Biden administration's most urgent priorities. But the drug industry is spending big to keep that from happening.

A new compromise on Capitol Hill would offer some relief from high prices by gradually allowing Medicare to negotiate drug prices similar to private insurers for the first time, while capping out of pocket costs at $2,000 and setting limits on the cost of insulin.

"This is the time to get real relief to senior citizens who are getting mugged at the pharmacy counter," Democratic Senator Ron Wyden said.

The pharmaceutical industry has spent nearly $263 million on lobbying so far this year, employing three lobbyists for every member of Congress, according to OpenSecrets, which tracks money in politics. Millions of those dollars are in the form of campaign donations.

https://www.msn.com/en-us/news/politics/big-pharma-spending-dollar263m-to-prevent-congress-from-lowering-drug-prices/ar-AAQianV

Must be pretty lucrative if they can afford to spend that much.

[lagomorph777]

1. Just put that much in the budget and pay SineManchin directly.

Small price to pay into their retirement funds, to save the damned country. And yes, right now, we appear to be damned.

[True Blue American]

2. That pitiful woman with black glasses on moaning how the Government will choose her medicines.

Hope it is worth the money.

[appalachiablue]

3. Naturally!@

[Irish_Dem]

4. Even considering all the bribe money, big pharma is still making a huge profit.

[abqtommy]

5. 243 million dollars is chump change for Big Pharma. Watch them increase that

amount bigly since "lucrative" is indeed an accurate descripton.