Once again, lawmakers have introduced legislation to end the tax breaks that drug makers can take for advertising their medicines to consumers, a move that effectively becomes part of a wider package of bills Democrats are devising rein in the pharmaceutical industry.
The latest attempt comes from Sen. Jeanne Shaheen (D-N.H.), who argues that drug makers are spending too much to market high-priced medicines at a time of growing anger over the cost of prescription drugs. The legislation, called the End Taxpayer Subsidies for Drug Ads Act, would amend the Internal Revenue Code to disallow deductions for such ads.
“A major side effect of big pharma’s enormous ad spending is that it drives up prescription drug costs and rips off taxpayers in the process,” Shaheen said in a statement.
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The average consumer has no idea how the drug companies manniipulate the information on their ads. For doctors to allow themselves to be manipulated by drug representatives is disgusting. Are their any honest people left in this world?
Stop the lies, and the drug commercials. Prescribed drugs kill 60K people a year. The cures are blocked. People suffer and die, and all they do Is manage symptoms without curing anyone. Its all about money. Very corrupt.
Hey Ed,
Maybe the lawmakers should end the vig payments the manufacturers have to pay the PBM’s to get their drugs on formulary ! Then increase drug prices to keep their profit margin the same.
Hi Jeff,
Mmm…. wonder how that would go over.
ed at pharmalot