LOVELAND MAGAZINE

News and Events from the Loveland, Ohio Area

Without fear or favor
Since 2004

Tag: Big Pharma

  • U.S. Senator Sherrod Brown recently introduced the End Taxpayer Subsidies for Drug Ads Act

    U.S. Senator Sherrod Brown recently introduced the End Taxpayer Subsidies for Drug Ads Act

    Bill would Eliminate Tax Deductions for Prescription Drug Advertising Subsidized by American Taxpayers

    Washington, DC — U.S. Senator Sherrod Brown (D-OH) recently introduced the End Taxpayer Subsidies for Drug Ads Act, legislation that would prohibit pharmaceutical drug manufacturers from claiming tax deductions for consumer advertising expenses. According to a press release from Brown, advertising expenses by pharmaceutical drug manufacturers have more than quadrupled over the past two decades, rising from $1.3 billion in 1997 to $6 billion in 2016. In that same time period, advertising from drug companies has increased from 79,000 ads to 4.6 million ads, including 663,000 TV commercials. Economists have estimated that nearly one third of the growth in drug companies’ spending can be attributed to the increase in advertising for prescription drugs.

    Brown says that under current law, drug manufacturers are allowed to deduct the cost of advertising expenses from federal taxes and the End Taxpayer Subsidies for Drug Ads Act would eliminate this tax deduction for drug advertising costs, ensuring that taxpayer dollars are not used to subsidize drug advertisements.

    “The purpose of medicine is to help people, not to line the pockets of Big Pharma executives. It’s time to stop using taxpayer dollars to give tax breaks to Big Pharma, especially at a time when too many hardworking Americans are struggling to afford the medicine they need and the culprit is often price gouging by pharmaceutical corporations,” said Brown.

    This legislation was introduced by Senator Jeanne Shaheen (D-NH). The bill original cosponsors include Senators Brown, Maggie Hassan (D-NH), Angus King (I-ME), Sheldon Whitehouse (D-RI), Tammy Baldwin (D-WI), Kirsten Gillibrand (D-NY), Chris Van Hollen (D-MD), Bernie Sanders (I-VT), Jack Reed (D-RI), Amy Klobuchar (D-MN), Richard Blumenthal (D-CT), Elizabeth Warren (D-MA), Mazie Hirono (D-HI), Brian Schatz (D-HI) and Dick Durbin (D-IL).

    Full text of the bill is available here.

  • Pondering the confusion of State Issue 2?

    Pondering the confusion of State Issue 2?

    For a thorough conversation on Ohio State Issue 2, readers cannot go wrong by listening to this WVXU podcast of Ohio Public Radio and Television Statehouse News Bureau Chief Karen Kasler and WVXU politics reporter Howard Wilkinson that aired on October 18, 2017.

    Issue 2: Breaking Down Ohio’s Prescription Drug Initiative

    This November Ohioans will vote on Issue 2, which would require state agencies to pay no more than the U.S. Department of Veterans Affairs for prescription drugs.

    Proponents of Issue 2 say it’s a pushback against high drug company prices and claim the law will save taxpayers hundreds of millions of dollars each year. Issue 2 opponents point out that, if passed, the law would not reduce drug prices for the 7 million Ohioans who have private health insurance, and could possibly increase pricing for many state residents.

    Joining us to analyze Issue 2 are Ohio Public Radio and Television Statehouse News Bureau Chief Karen Kasler and WVXU politics reporter Howard Wilkinson.

    This November Ohioans will vote on Issue 2, which would require state agencies to pay no more than the U.S. Department of Veterans Affairs for prescription drugs.

    Proponents of Issue 2 say it’s a pushback against high drug company prices and claim the law will save taxpayers hundreds of millions of dollars each year. Issue 2 opponents point out that, if passed, the law would not reduce drug prices for the 7 million Ohioans who have private health insurance, and could possibly increase pricing for many state residents.

    Joining us to analyze Issue 2 are

    This November Ohioans will vote on Issue 2, which would require state agencies to pay no more than the U.S. Department of Veterans Affairs for prescription drugs.

    Proponents of Issue 2 say it’s a pushback against high drug company prices and claim the law will save taxpayers hundreds of millions of dollars each year. Issue 2 opponents point out that, if passed, the law would not reduce drug prices for the 7 million Ohioans who have private health insurance, and could possibly increase pricing for many state residents.

    Joining us to analyze Issue 2 are Ohio Public Radio and Television Statehouse News Bureau Chief Karen Kasler and WVXU politics reporter Howard Wilkinson.

    LISTEN NOW

    For more information you can visit the official websites of those for and against the ballot initiative

    ISSUE 2: THE DECEPTIVE RX BALLOT ISSUE

    “Vote ‘Yes’ on state Issue 2 to force Big Pharma’s hand”

    Issue 2 Official Ballot Language for Ohio November 2017

    Issue 2

    TITLE

    Proposed Law

    Proposed by Initiative Petition

    To enact Chapter 194 of the Ohio Revised Code

    A majority yes vote is necessary for the law to pass.

    To enact Chapter 194 of the Ohio Revised Code, which would:

    • Require the State of Ohio, including its state departments, agencies and entities, to not pay more for prescription drugs than the price paid by the United States Department of Veterans Affairs.
    • Establish that the individual petitioners responsible for proposing the law have a direct and personal stake in defending the law; require the State to pay petitioners’ reasonable attorney fees and other expenses; require the petitioners to pay $10,000 to the State if the law is held by a court to be unenforcable and limit the petitioners’ personal liability to that amount; and require the Attorney General to defend the law if challenged in court.

    Now Enrolling at All About Kids at Wards Corner today!