“You just got better at making money” Rep. Katie Porter Accuses Big Pharma

  • Porter used her white board to display Celgene’s repeated price hikes for Revlimid, which now costs $763 per dose, up from $215 in 2005. She demanded that Mark Alles, Celgene’s CEO until Bristol Myers Squibb acquired the company in 2019, to explain whether the drug had improved over the same time period.
  • “Did the drug start to work faster? Were there fewer side effects? How did you change the formula or production of Revlimid to justify this price increase?” Porter said.
  • Reps Porter, Tlaib and Pressley used an Oversight Committee hearing to press the CEOs of Teva, Celgene and Bristol-Myers Squibb on the results of an 18-month investigation into the pricing of two drugs: Teva’s Multiple Sclerosis drug Copaxone and Bristol-Myers Squibb’s Multiple Myeloma drug Revlimid.

See full story here.

Categories: Business, Government

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