WASHINGTON. (WCAX) – Senator Welch speaking out against big pharma.
In a virtual press conference today, Senator Welch joined representative Debbie Dingell from Michigan and the nonprofit Protect Our Care.
In a new report from Protect Our Care, they say that in the first three months of 2024, big drug companies raked in nearly $29 billion in profits and rewarded shareholders over $28 billion.
In the call, they also discussed how big pharma companies are working to shoot down the the Inflation Reduction Act.
Welch says that Americans who are already facing rising costs can’t afford the high costs of prescription drugs and the prices need to be affordable.
“We have just got to keep this fight up and push back on these scare tactics that frankly, pharma says ‘oh, you do anything to interfere with our pricing power then that is going to mean we won’t innovate’, no way,” said Welch.
Welch was a leading sponsor in the House of Lower Drug Cost Now Act and says he plans to continue to work on the issue.
