Senators grill big pharma execs on drug prices
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 9 February 2024
⏱️ 7 minutes
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Summary
The Senate Committee on Health, Education, Labor, and Pensions held a hearing yesterday for three pharmaceutical CEOS on “outrageous” drug prices when compared to other countries. Plus, Super Bowl ad trends ahead of the weekend’s big game and results from the 2022 U.S. Trans Survey.
Transcript
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| 0:00.0 | Why again is it two to four times cheaper to buy some prescription drugs in say |
| 0:06.2 | Australia, Canada, or France? I'm David Brancaccio in New York. The CEOs of three |
| 0:11.8 | Pharmaceutical Giants got tough questions yesterday about the venerable |
| 0:15.7 | arrangement where medicines can cost a lot more in the U.S. than in some other countries. |
| 0:21.4 | Marketplace's Nancy Marshall Genser has some details. |
| 0:24.3 | The hearing was held by the Senate Committee on Health, Education, Labor, and Pensions, |
| 0:28.7 | chaired by Vermont Senator Bernie Sanders. |
| 0:31.3 | Sanders says the drug makers charge much more for drugs here. |
| 0:34.8 | He says the diabetes drug Genovia costs almost 7,000 in the US |
| 0:39.9 | compared to $900 in Canada and just 200 in France. |
| 0:45.0 | The outrageous costs of the prescription drugs in America means that one out of four of our people |
| 0:50.9 | go to the doctor, get a prescription, and they cannot afford to fill that prescription. |
| 0:56.4 | How many die as a result of that? |
| 0:58.9 | How many suffer unnecessarily? |
| 1:01.6 | Pharmaceutical executives blame the high prices on middlemen known as pharmacy benefit managers who negotiate |
| 1:07.1 | prices with drug makers for insurance companies and employers. |
| 1:10.7 | The CEOs also said lower drug prices would discourage research and development on new drugs. |
| 1:16.5 | I'm Nancy Marshall Genser for Marketplace. |
| 1:20.3 | Transgender people in the U.S. have much higher rates of economic hardship than the general population according to a survey of over 90,000 trans people. |
| 1:29.0 | The 2022 US Trans Survey is out this week. |
| 1:32.0 | About one in three trans people said that they were living in poverty versus just over one in |
| 1:37.3 | 10 for the general population. |
... |
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