PRESS RELEASE: NEW REPORT: BIDEN AGENDA WILL LOWER PRESCRIPTION DRUG AND INSULIN COSTS FOR FAMILIES
For too long, prescription drug costs have skyrocketed for American families. Drug manufacturers claim that higher prices are necessary to invest in research for new drugs, but the numbers don’t support these claims.
According to a report by the House Committee on Oversight and Reform, leading drug companies have spent more on stock buybacks, dividends to investors, and executive compensation than on research and development. These stock buybacks and executive raises have padded the pockets of wealthy investors while higher drug costs put families in dire financial straits.