Yesterday, the Biden Administration announced the first 10 prescription drugs to be negotiated by Medicare as part of the historic Inflation Reduction Act (IRA). While the IRA will offer relief to millions struggling to afford the crippling cost of prescription drugs, it’s important to remember that Congressman David Valadao voted against the bill.
Valadao has taken over $240,000 from Big Pharma, proving that the only thing he is fighting for in Washington is the bottom lines of his corporate donors.
“Congressman Valadao’s decision to stand with his Big Pharma donors over California families will come back to haunt him next November,” said End Citizens United Spokesperson Bawadden Sayed. “The IRA is a shining example of the type of progress we can make as a country if we elect more leaders who aren’t beholden to their corporate donors. As California families celebrate this landmark announcement, Congressman Valadao should be ashamed of his efforts to maintain Big Pharma’s ability to price gouge.”
The pharmaceutical industry spent over $700 million dollars to prevent passage of the IRA.
From 1998-2022, the drug industry spent $5.3 billion on lobbying, which is $1 billion more than any other industry. In 2022 alone, the pharmaceutical industry hired nearly 1,860 lobbyists, more than three lobbyists for every single member of Congress. As their lobbying efforts grew, Big Pharma continued to raise prescription drug prices, increasing the price of 1,400 prescription drugs at an average rate of 6.4%.
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