#GOPTaxScam Gives Big Breaks to Drug Companies Hiking Prices
‘You'll be seeing drug prices falling very substantially in the not-too-distant future,' President Trump promised the American people over and over again.
However, in the first year of the Trump Administration, 16 of the 20 most-used prescription drugs in the U.S. actually soared in price by mostly double digits, generating a jaw-dropping $81.8 billion for big pharma and forcing sick Americans to pay more for their prescription drugs.
Instead of advocating for ‘falling' drug prices for everyone, the President and Republicans in Congress passed a deficit-exploding GOP tax scam – handing multi-billion dollar windfalls to the pharmaceutical companies still hiking drug prices on Americans.
In fact, the same companies that are raising prescription drug prices have pocketed billions from the GOP tax scam. Here are some examples:
| COMPANY | DRUG PRODUCT | DRUG PRICE: | ESTIMATED 2017 FINANCIAL BENEFIT FROM GOP TAX SCAM |
| Pfizer | Lyrica: Used for nerve & muscle pain | 29% | $24.4 billion |
| AbbVie | Humira: Used for arthritis | 19% | $4.1 billion |
| Amgen | Enbrel: Used for arthritis | 19% | $1.2 billion |
| Merck | Januvia: Used for diabetes | 18% | $779 million |
| Amgen | Neulasta: Used for cancer | 15% | $1.2 billion |
| Gilead Sciences | Genvoya: Used for HIV | 14% | $308 million |
In an empty proposal that demands no accountability from the drugs companies raising prices on seniors and families, President Trump exposed the reality of the GOP's agenda – a plan to raise Americans' health costs and hand even bigger handouts to wealthy pharmaceutical companies.
While the GOP Congress makes pharmaceutical companies richer, Democrats have made bold action to crack down on prescription drug prices a top priority – making it one of the first solutions called for in A Better Deal: Better Jobs, Better Wages, Better Future.