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House Democrats Grill Pharmaceutical Executives over Skyrocketing Drug Prices

HeadlineOct 01, 2020

On Capitol Hill, House Democrats grilled drug company executives Wednesday over soaring prescription drug prices, which are far higher in the U.S. than anywhere else in the world. This is California Congressmember Katie Porter questioning Celgene CEO Mark Alles over the skyrocketing price of the cancer drug Revlimid, which now costs more than triple what it did 15 years ago.

Rep. Katie Porter: “Mr. Alles, do you know how much you personally received in bonuses over two years, the last two years, just because Celgene raised the price of this one drug, Revlimid?”

Mark Alles: “I receive very generous compensation, but I don’t know the exact number that you’re referring to.”

Rep. Katie Porter: “In fact, you personally received half a million dollars, personally, just by tripling the price of Revlimid. So, to recap here, the drug didn’t get any better. The cancer patients didn’t get any better. You just got better at making money. You just refined your skills at price gouging. And to be clear, the taxpayers spent $3.3 billion on Revlimid.”

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