"Pharma CEOs Prioritize Profits Over Research and Affordability, Senate Hearing Reveals"

A Senate hearing chaired by Sen. Bernie Sanders revealed that big pharmaceutical companies spend billions more on executive compensation, dividends, and stock buyouts than on research and development for new drugs. The heart of the problem lies in pharmaceutical greed, patent gaming, and powerful lobbying, leading to exorbitant drug prices in the US. A report found that US drug prices are nearly three times higher than in 33 other wealthy countries, with the median launch price of innovative drugs skyrocketing over the past two decades. The CEOs of three pharmaceutical giants were questioned on their pricing practices, highlighting the stark disparities in drug prices between the US and other countries.