Thread by @OversightDems

While @PhrMA wants you to think companies raise #drugprices to fund R&D, our investigation revealed that drug companies raise prices to:

💰 Turbocharge sales
💰 Keep their stock price growing

Here’s an internal company document admitting they raise prices to fuel “growth”:

Worse still, drug companies spend far more to reward shareholders than on innovative R&D.

(Read our staff report on buybacks and dividends here: bit.ly/3pGmkR)

Here is the money they make vs. what they spend on R&D for 7 drugs:

Our investigation also found that drug companies hike prices for life-saving medications because the U.S. allows them to get away with it.

Here’s an internal document admitting US policy lets the drug company Teva “successfully” raise prices:

Medicare’s lack of negotiating power has made it a target for these practices!

That’s why the Senate must pass #BuildBackBetter and allow Medicare to negotiate for the fair prices Americans deserve.

Here’s a company admitting privately it rakes in profits from Medicare 👇

Our investigation shows that @PhrMA uses patient assistance programs as smokescreens to keep drug prices high.

Teva’s copay assistance program gives them a 4.5X return on the dollar.

Let’s be clear: Patient 👏 assistance 👏 programs 👏should 👏 not 👏 make 👏 drug 👏 companies 👏 more 👏money.

We’re not done—One of the documents uncovered by our investigation shows that one @NovoNordisk employee wrote “all I want for Christmas” is for insulin manufacturers to increase their prices in lockstep.

This is shameful.

This holiday season, @OversightDems and @HouseDemocrats are fighting for the Build Back Better Act to #lowerdrug prices for all Americans.