After Hours: How much did Big Pharma spend to try to stop new drug price control initiatives? (From the Archives)
Full Measure After Hours
Sharyl Attkisson
5 • 1.4K Ratings
🗓️ 17 April 2025
⏱️ 16 minutes
🧾️ Download transcript
Summary
Some hugely profitable drugs are targeted under new price controls. Big Pharma has been spending millions to fight them tooth and nail.
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Transcript
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| 0:20.4 | Hi, everybody. Cheryl Ackison here. I hope you enjoy this special from the archives edition |
| 0:26.5 | of Full Measure After Hours. |
| 0:34.2 | Hi, everybody, Cheryl Ackison here. Welcome to another edition of Full Measure After Hours. Today, |
| 0:40.9 | how much did Big Pharma spend to try to stop new drug price control initiatives? A shakeup is in the |
| 0:49.0 | works with the Trump administration promising to upend our medical health establishment. That stands to hit hard with |
| 0:55.7 | America's pharmaceutical industry, which has spent hundreds of millions of dollars to try to influence |
| 1:01.5 | politicians to get favorable laws and policies in recent years. Some hugely profitable |
| 1:07.7 | drugs are already being targeted under price controls that were passed in 2022 as part of the Inflation Reduction Act. |
| 1:17.2 | The Watchdog Group Public Citizen looked into how much some of the big-name drug companies have spent trying to fight the new price control initiative. |
| 1:26.7 | They put out a report that I saw, so I contacted |
| 1:29.7 | Public Citizen to talk to them about it. And you'll hear from Lisa Gilbert today in this podcast |
| 1:35.7 | with Public Citizen. Yeah, well, so we were looking in advance of an important hearing that Bernie Sanders held in the help committee. |
| 1:47.7 | He brought in three CEOs from Bristol-Myers Squibb, Johnson & Johnson, and Merck to talk about price gouging and talk about how they had been attempting to influence the Inflation Reduction Act. |
| 1:59.2 | So this piece looked right at those three companies, checking in on their lobbying and |
| 2:04.0 | who they've been hiring, how many people they've been hiring to try to make that influence |
| 2:07.6 | happen. |
| 2:08.6 | What were these companies trying to do? |
| 2:10.3 | What influence do they try to have on the Inflation Reduction Act? |
| 2:13.6 | Well, they did not like it, and that is because it's the first time ever we've been able to negotiate drug prices. |
| 2:21.3 | As I'm sure you and everyone out there in America knows, drug prices are way too high. |
| 2:26.3 | And one of the things that pharmaceutical companies do not want is to be able to have those prices negotiated by the government, by Medicare, so that they |
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