Amid ongoing debate over the effect of the recent tax law, one lawmaker complains that shareholders in the nation’s 10 largest drug makers will reap a “windfall,” but the average American will not share in the bounty because none of these companies is using tax cuts to lower prescription medicine prices.

In a new report, Sen. Cory Booker (D-N.J.) noted that several of the companies have announced more than $45 billion in stock buybacks, but overall, there has been only “limited mention” of investments in ways that could benefit patients and workers, such as increases in R&D and capital investment for building new facilities and creating jobs.

Unlock this article by subscribing to STAT Plus and enjoy your first 30 days free!


What is it?

STAT Plus is a premium subscription that delivers daily market-moving biopharma coverage and in-depth science reporting from a team with decades of industry experience.

What's included?

  • Authoritative biopharma coverage and analysis, interviews with industry pioneers, policy analysis, and first looks at cutting edge laboratories and early stage research
  • Subscriber-only networking events and panel discussions across the country
  • Monthly subscriber-only live chats with our reporters and experts in the field
  • Discounted tickets to industry events and early-bird access to industry reports

Leave a Comment

Please enter your name.
Please enter a comment.

Sign up for our Daily Recap newsletter

A roundup of STAT’s top stories of the day in science and medicine

Privacy Policy