Dear John,

You’ve gotta hand it to Big Pharma.

Despite raking in $448 billion in profits over the last five years, the industry -- including Merck, Bristol-Myers Squibb, Johnson & Johnson, and the lobbying group PhRMA -- has filed multiple lawsuits trying to prevent Medicare from negotiating drug prices.

Never mind that President Biden’s Inflation Reduction Act finally requires them -- by law -- to negotiate. Big Pharma has been exempt from that requirement for decades and they are doing everything they can to stop it from changing. Profits at any cost, it seems.

After all, over the past five years, Big Pharma has given more to their investors through stock buybacks and dividends than they paid in federal taxes. Which raises the obvious question: who does Big Pharma serve? The millions of patients depending on these manufacturers for life-saving medicines? Or greedy investors who see Medicare as an unprotected pot of money, to be divvied up amongst themselves for their own enrichment?

I think their behavior makes the answer pretty clear. It’s time for them to feel public pressure. Sign the petition being led by our friends at Social Security Works demanding that Big Pharma drop their lawsuits and negotiate drug prices with Medicare now.

Next week on August 16th, the one-year anniversary of the passage of the Inflation Reduction Act, Social Security Works and several other allies in this powerful coalition will host actions in Washington D.C. delivering all the signatures and driving media coverage of this important campaign.

By adding your name, you’ll be a part of the action on what will be an historic day.

Thank you in advance for demanding Big Pharma stop suing Medicare and negotiate drug prices now.

Robert Reich
Inequality Media Civic Action