National & Minnesota Report
Prescription drug prices in America are out of control. While pharmaceutical companies rake in massive profits, everyday Americans are struggling to afford life-saving medications. Over the past decade, drug prices have skyrocketed – some by as much as 5,000% – often without clinical justification. Meanwhile, Americans are paying more than three times the price for the same drugs as people in other wealthy nations.
The reason? Big Pharma sets its own prices, engages in anticompetitive practices, and has spent millions lobbying against reforms that would bring costs down. A poll found that a staggering 89% of Republicans, 84% of Democrats, and 78% of Independents agree that pharmaceutical company profits are a major factor in rising drug costs. Yet, the industry continues to exploit a corrupt system where executives move between Big Pharma and the very agencies meant to regulate them, ensuring corporate interests always come first.
At the state level, we’ve seen what’s possible when leaders take action. When Democrats held a trifecta in Minnesota, they made major progress on healthcare affordability, including capping insulin prices and expanding access to prescription drugs for low-income residents. They proved that change is possible – when there’s political will to stand up to corporate interests. Now, with Republicans controlling the House, Senate, and White House, the opportunity to rein in Big Pharma on a national level is here.
As Majority Whip, Minnesota’s own Congressman Tom Emmer (R-MN06) has the power to push meaningful reforms through Congress. The question is: will Republicans deliver? True action may look like the following:
- Stop price gouging and cap drug prices.
- Ensure life-saving medications are affordable for all.
- End the revolving door between Big Pharma and government agencies.
- Make Big Pharma pay its fair share of taxes.
Minnesota Democrats showed that reform is possible – now it’s time for Republicans to prove they can do the same. Americans can’t afford to wait.