On the recordNovember 28, 2023
Thank you. I am new here. I am sorry I made that mistake. Mr. President, for years, one of the greatest challenges facing American families has been the rising cost of prescription drugs. A recent AARP survey found that the price for the top 25 medications used by seniors has tripled, on average, since those drugs came to market. Those drugs include: Xarelto, Trulicity, Januvia, Jardiance, Humira, and Eliquis. Now, I imagine most Americans already recognize the names I have read. They sound familiar because they are among the most heavily advertised products and medications on television. You may even have seen one of these ads during the Thanksgiving parade you and your family watched or while you watched a football game this weekend. Every year, Big Pharma spends more than $6 billion each year on ads. That is the size of the entire budget of the Food and Drug Administration. In fact, we know that most pharma companies spend more on advertising than on drug research and development of new drugs. It turns out, the United States is one of only two countries in the world that allows people to run ads on television for prescription drugs. Anybody want to guess the name of the other one? New Zealand. That is the only other country that allows this to occur. You want to know why pharmaceutical companies spend so much money promoting their drugs? Because it increases their profits dramatically. The average American sees an average of nine ads per day, nine.…





