January 3, 2020/Press

Tillis Helping Block Bipartisan Effort to Curb Prescription Drug Prices While Raking in Campaign Cash from Top Pharma CEOs

Senator Thom Tillis “topped the list” of lawmakers in Washington being bankrolled by CEOs of big pharmaceutical companies in 2019 – while at the same time opposing a bipartisan Senate effort to curb prescription drug prices.

Tillis, part of a select group of Republicans “who pose a bulwark against drug price-control legislation that could hurt companies’ revenue,” is among the top recipients of campaign contributions from pharmaceutical company CEOs. To kick off the New Year, a number of those same drug company CEOs are among those now hiking prices on more than 250 drugs in 2020 including important medications like vaccines and cancer treatments.

Tillis has been a “longtime…ally” for the pharmaceutical industry. Late last year, Tillis announced his opposition to a bipartisan drug pricing bill in part because he does not want to “incur the wrath of the well-financed pharmaceutical industry.” He authored “one of the most pro-pharma pieces of legislation before Congress” and  “pressured” another Republican Senator to water down their own legislation regulating the industry. And he’s bankrolled by Big Pharma, receiving the second-most amount of money among senators from the pharmaceutical manufacturing industry.

Drug manufacturers are still reaping a huge tax handout from the Tillis-backed Republican tax scam. Five top drug manufacturers, on their own, stood to pocket over $42 billion in tax handouts according to early estimates. Despite record profits, those companies haven’t passed along their savings to patients by lowering drug costs.

“Senator Tillis continues to show he’ll side with the drug company CEOs and their corporate profits over bringing down costs for North Carolina seniors and working families,” NCDP spokesman Robert Howard said. “As big pharmaceutical CEOs hike prices on life-saving medications like vaccines and cancer treatments and Senator Tillis helps Mitch McConnell obstruct meaningful action on prescription drug prices, it’s clear Tillis’ priority is helping his special interest backers rather than North Carolinians.”