Top Elizabeth Warren Donor Profits Off Rising Drug Prices

Washington Free Beacon | 2/1/2019 | Joe Schoffstall
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BY: Joe Schoffstall

A firm founded by a top donor to Sen. Elizabeth Warren's action fund, campaign committee, and leadership PAC profits off prescription drugs including those that the Massachusetts senator regularly chastises for hiking prices on consumers.

Warren - Years - Drug - Industry - Pharma

Warren for years has been outspoken against the drug industry and has had "big pharma in her crosshairs" while simultaneously introducing numerous pieces of legislation in attempts to tackle the rising prices of the industry.

"Over the last 10 years, some of the wealthiest drug companies—those that capitalize on government research to generate billions of dollars in revenues through the sale of blockbuster drugs—have found another way to boost profits," Warren said in 2015. "They’ve been caught defrauding Medicare and Medicaid, withholding critical safety information about their drugs, marketing their drugs for uses that aren’t approved, and giving doctors kickbacks for writing prescriptions for their drugs."

Warren - Pfizer - November - Prices - Prescriptions

Warren slammed pharma giant Pfizer in November 2018 for hiking prices on prescriptions, saying that Pfizer "‘promised' it wouldn’t raise prices, then turned around and raised them anyway," and added that "we can’t count on drug companies to tackle rising drug costs, so Congress must." The Massachusetts senator sent an earlier letter asking if they planned to raise costs and inquired into if they had lobbied the Trump administration on its proposals.

Warren additionally spearheaded the Capping Prescription Costs Act of 2018, which "tackles high drug costs faced by families placing a monthly cap on their out of pocket drug costs." In December 2018, Warren introduced bicameral legislation alongside Rep. Jan Schakowsky (D., Ill.) to address the "skyrocketing" costs of prescription drugs that proposed government manufacturing of generic drugs.

Warren - Pharma - Legislation - Industry - Firm

As Warren publicly knocked big pharma and pushed legislation against the industry, a firm run by a top donor to her action fund, campaign committee, and leadership PAC quietly profited off rising...
(Excerpt) Read more at: Washington Free Beacon
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