Press Releases
Nadler Moves to Lower the Cost of Prescription Drugs
Washington, DC,
June 19, 2009
Today, Congressman Jerrold Nadler (D-NY) introduced H.R. 2966, the Say No to Drug Ads Act, a bill that would end tax perks to pharmaceutical companies for their direct-to-consumer advertisements. In 2007 alone, the pharmaceutical industry spent more than $4.7 billion on direct-to-consumer advertising – six times more than the industry spent on these ads in 1996. By creating a demand for their drugs, the pharmaceutical companies are able to keep prices artificially high, steering our consumers – and physicians – away from generic versions of drugs. The Say No to Drug Ads Act, first introduced by Nadler in 2002, would help consumers and doctors make more informed choices in selecting from available medications.
“Unfortunately today, our televisions are running advertisements for brand name medications,” said Nadler. “Pharmaceutical ads to consumers routinely tout the benefits of high-priced drugs while downplaying or inadequately explaining risks. Despite the major profits generated by these ads, drug companies enjoy the benefit of a federal tax deduction for the ads they create. My legislation would not only end this undeserved perk for pharmaceutical companies, but would also generate billions of dollars to support health care reform efforts.” According to the Kaiser Family Foundation, 91% of Americans say they have seen a commercial or read an advertisement about a brand-name drug, and eight in ten doctors reported being asked by patients about diseases and medications that were advertised on television. |