Pharmaceutical Company Authorizes $15 Billion In Buybacks, Doesn’t Lower Drug Prices
December 14, 2018
Trump and Republicans gave massive new tax breaks to the pharmaceutical industry. Instead of using that money to lower drug prices, pharmaceutical companies continue to use it to benefit their shareholders while drug costs continue to rise. One company alone has now authorized $15 billion in stock buybacks since the passage of the Trump tax law.
Meanwhile, Americans across the country continue to struggle with skyrocketing prescription drug costs.
“Something needs to change… I’m scared to turn 26 and get off my parents’ insurance.” – Minnesota resident with diabetes
“I was exasperated, paying so much for my drugs. I need this to keep myself alive.” – Seattle resident with diabetes
“It just infuriates me to no end that this drug that we’ve had for almost 100 years is inaccessible for so many people.” – Seattle doctor with diabetes
“It’s really one of my greatest fears. If insulin is $300 a vial now, what’s it going to look like in 20 years when she’s on her own?” – Father of a 10-year-old with diabetes
“Insulin is kind of the face of the drug pricing crisis in America. We literally die without it. We’re fighting for our lives.” – T1International founder, who has diabetes
“Can you even imagine what it was like to tell people that your son died at 26 because he struggled to afford the one medicine created to save his life?” – Father of a diabetic who died because he couldn’t afford insulin