Rep Katie Porter Big Pharma and Sarah Scaife Foundation Info

Rep Katie Porter Big Pharma and Sarah Scaife Foundation Info

@RepKatiePorter Tells Big Pharma

The same Big Pharma company that I confronted for spending tens of billions on shareholder payouts was just exposed for gaming the U.S. patent system—to the tune of $114 billion. I will keep leading efforts to rein in Big Pharma’s greed.

Big Pharma says they need to charge astronomical prices to pay for research and development. Yet, the amount they spend on manipulating the market to enrich shareholders completely eclipses what’s spent on R&D.
Today, I confronted a CEO about the industry’s lies, with visuals

I’m proud my bill to lower drug prices took effect this year, but we have more work to do to protect patients and taxpayers from corporate greed.

We need to make it easier for smaller companies to compete with Pharma giants to continue getting prices down.

Pfizer announces a record $100 billion in revenue for 2022, and $31 billion in profits. Over half of the company’s revenue came from Paxlovid and the Covid-19 vaccine. The pharma giant says it plans to raise the cost of the vaccine from $19.50 to up to $130.

Sarah Scaife Foundation

The Center for Media and Democracy has obtained and published the latest IRS filing for the Sarah Scaife Foundation, a foundation with over $1 billion in net assets that funds rightwing infrastructure across the country.
Sarah Scaife Foundation’s largest 2021 grants went to the American Enterprise Institute ($1.7 mil); George Mason University ($1.6 mil); Heritage Fdn ($1.3 mil); Center for Strategic and International Studies ($1 mil); and Foundation for Excellence in Higher Education ($1 mil).

The full list of 2021 Sarah Scaife Foundation grants are listed on its @sourcewatch page.

The Council for National Policy (CNP) is a secretive, Christian Right organization of funders and activists founded in 1981 by activist Morton Blackwell, commentator Paul Weyrich, direct-mail pioneer Richard Viguerie, right-wing activist Phyllis Schlafly and Left Behind author Tim LaHaye. Anne Nelson’s book about CNP, Shadow Network: Media, Money, and the Secret Hub of the Radical Right, describes how the organization connects “the manpower and media of the Christian right with the finances of Western plutocrats and the strategy of right-wing Republican political operatives.”

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