Pharma: Tax dodgers and price gougers?

KEY POINTS:

-[inlinetweet prefix=”” tweeter=”” suffix=””]Between 2011 and 2015, the Pharma Big 10 jacked up the prices charged to consumers and Medicare and Medicaid for 31 of their most widely-prescribed drugs by at least 40% and as much as 71%[/inlinetweet].

    • -[inlinetweet prefix=”” tweeter=”” suffix=””]Worldwide corporate profits of the Pharma Big 10 jumped by 39% over 2011-2015, from $58.8 billion to $81.5 billion (and to $83.4 billion, or by 42%, between 2011 and 2016).[/inlinetweet]
    Worldwide sales, which neared $300 billion in 2015, were up only 5% over that timeframe, indicating drug companies were squeezing more pro t from every sale.

-[inlinetweet prefix=”” tweeter=”” suffix=””]The Pharma Big 10 had $506 billion in untaxed profits stashed offshore in 2016. [/inlinetweet]

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