Even the most ardent critics of big pharma have become somewhat silent as everyone is looking up to drugmakers to save the day in the context of the pandemic. However, congressional Democrats want to humble the pharmaceutical groups, enacting legislation to keep profits in check. Karl Evers-Hillstrom had this story in Center for Responsive Politics:
Drugmakers are enjoying renewed clout in Washington for their rapid development of lifesaving COVID-19 vaccines, but they’re set to clash with Democrats over proposals that would hurt the pharmaceutical industry’s profits.
Democratic lawmakers are urging President Joe Biden to waive patent protections on vaccines to help other nations fight the virus. They’re also preparing legislation to allow Medicare to negotiate the price of drugs. Both measures are fiercely opposed by the pharmaceutical industry. And in the near future, drugmakers’ plans to hike the price of government-backed vaccines could be met with hostility by a Democrat-controlled Congress.
The pharmaceutical industry, which faced bipartisan congressional scrutiny in recent years over the rising cost of drugs, has boosted its fortunes by swiftly responding to the pandemic. According to The Harris Poll, public approval of pharmaceutical companies increased to 62 percent in February 2021 from 32 percent in January 2020. Over 150 million vaccines have already been administered, according to the Centers for Disease Control and Prevention. Biden recently increased his vaccination goal to 200 million in his first 100 days.
Here is a link to the full article.
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