Senator Peter Welch: Protect Our Care Report

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From the Office of Senator Welch:

On Tuesday, May 7, 2024 at 1:00 PM ET, U.S. Senator Peter Welch (D-Vt.) and U.S. Representative Debbie Dingell (D-MI-06) will join Leslie Dach from Protect Our Care for a press conference to discuss how big pharmaceutical companies are putting profits over patients. During the call, Protect Our Care will release a new report summarizing big drug companies’ recent investor reports, demonstrating how they are raking in profit and rewarding shareholders while more than 1 in 3 Americans are cutting pills or skipping doses because they can’t afford their medication.

This call comes at a time where pharmaceutical giants are laser-focused on undermining the Inflation Reduction Act by filing lawsuits and increasing their lobbying to protect their profits. Drug companies have been working behind the scenes with Republican lawmakers to repeal all of the Inflation Reduction Act’s provisions aimed at making prescription drugs more affordable for seniors. Big drug companies claim that the new law to make drugs more affordable will harm patients, but in reality, they’re telling investors the opposite and spending billions on rewarding their investors through stock buybacks and dividends, paying their executives millions, and spending millions lobbying to keep their prices high.