lpetrich
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Rep. Katie Porter and her whiteboard blast Mark Alles, pharma executive, on Celgene price hikes - The Washington Post
KP asked MA:
The drug's price rose from $215/pill in 2005 o $719/pill last year.Rep. Katie Porter (D-Calif.) got out her marker and scrawled a figure on the whiteboard beside her: $13 million.
“Do you know what this number is?” she asked Mark Alles, the former CEO of the pharmaceutical company Celgene, as he testified remotely before the House Oversight Committee on Wednesday. “Does it ring any bells?”
Alles could hardly get his answer out before Porter scribbled more math on the board. That multimillion figure — his total compensation in 2017 — was already 200 times the average income in the United States, the congresswoman pointed out. It got even larger, she said, after Celgene needlessly tripled the cost of a cancer medication, thus securing himself hefty bonuses in return.
“Isn’t that right, Mr. Alles?” she asked him. “If you hadn’t increased the price, … you wouldn’t have gotten your bonus.”
KP asked MA:
Investigation shows Celgene, Teva plotted to keep drug prices high“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 asked.
Of course, he didn’t need to answer. The details were laid out in a congressional drug pricing investigation published Wednesday, which concluded that prices were jacked up to hit revenue goals for shareholders and thus score bonuses for Alles and others.
“To recap: The drug didn’t get any better. The cancer patients didn’t get any better. You just got better at making money,” Porter told him. “You just refined your skills at price gouging.”
Doing what a Congressmember should.After a two-minute clip of the interaction was posted online on Wednesday by the consumer rights group Public Citizen, at least half a dozen people chimed in to say Porter, whiteboard in tow, should moderate the next presidential debate.
Others aimed higher. “At this point, when Katie Porter runs for president in the next decade, she won’t need a vice president,” one person wrote. “Her vice president will be her dry-erase board.”
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As The Washington Post’s Renae Merle reported last year, Porter had testified before Congress several times before her election in 2018 and quickly drew notice within months in Washington for her “analytical” approach during hearings. The day before a hearing, the lawmaker said she often spends time studying a 70- to 150-page binder of background information compiled by her staff to prepare for difficult testimonies.