Social Congressional Republicans instruct drug companies to not cooperate with pricing investigation

Discussion in 'The War Room' started by Trotsky, Apr 8, 2019.

  1. Trotsky

    Trotsky Undisputed Co-Winner of 2019 Best WR Poster

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    "Party of great healthcare"

    WASHINGTON — In an unusual move, House Republicans are warning drug companies against complying with a House investigation into drug prices.

    Republicans on the House Oversight Committee sent letters to a dozen CEOs of major drug companies warning that information they provide to the committee could be leaked to the public by Democratic chair Elijah Cummings in an effort to tank their stock prices.

    Cummings requested information from 12 drug companie
    such as Pfizer Inc., Johnson & Johnson, and Novartis AG in January as part of a broad investigation into how the industry sets prescription drug prices.

    In their letters, Reps. Jim Jordan and Mark Meadows — leaders of the hardline conservative House Freedom Caucus — imply that Cummings may be attempting to collect the information in order to bring down the industry’s stock prices.

    They write that Cummings is seeking sensitive information “that would likely harm the competitiveness of your company if disclosed publicly.” They then accuse Cummings of “releasing cherry-picked excerpts from a highly sensitive closed-door interview” conducted in an investigation into White House security clearances. “This is not the first time he has released sensitive information unilaterally,” says the letter. The authors say they “feel obliged to alert” the drug companies of Cummings’ actions.

    Democrats expressed bafflement at the letters. While politicians routinely spar over committee work, warning companies not to comply with an investigation is unconventional — perhaps even unprecedented, Democrats say.

    “Rep. Jordan is on the absolute wrong side here,” Cummings said in an emailed statement to BuzzFeed News. “He would rather protect drug company ‘stock prices’ than the interests of the American people.”

    In their letter, Jordan and Meadows say that “while we cannot speculate about Chairman Cummings’ motives,” the committee should not pursue an investigation designed to impact stock prices.

    This hinges on a quote from Cummings saying he has three staffers he calls “the drug team” who work on the high cost of drugs and that their work has lowered drug company stocks.

    The quote omits the full context of Cummings’ remarks. At the time he was appearing before the Committee on House Administration seeking an increase in funding for his committee. (Jordan, as the ranking Oversight Republican, objected to a funding increase.)

    The letter quotes Cummings as saying of his drug team: “If you follow the headlines, we have already seen the impact they have had… on stock prices with regard to drugs. I mean, it has been astronomical.” The letter omits the rest of the sentence: “saving the taxpayers money.”

    In the edited quote, Cummings seems to be bragging about an “astronomical” impact on drug company stocks. In the context of his statements before and after, he seems to be saying the “astronomical” impact is on taxpayer savings, which justify giving his committee more resources. A minute later he says: “Whatever you all give us, we will give it back in savings by rooting out fraud, waste, and abuse.”

    Jordan’s office insisted that the letter does not tell companies not to respond to Cummings’ requests, and in fact encourages the companies to cooperate with “responsible and legitimate” oversight. However, Jordan’s office reiterated that he has grave concerns that in this case Democrats are out to destroy drug company stock value.

    https://www.buzzfeednews.com/articl...s-warn-drug-companies-oversight-investigation
     
  2. D 1 Wrestler

    D 1 Wrestler Look up to me

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    Grave concerns they could tank as a result of fraudulent price gouging ?
     
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  3. BarryDillon

    BarryDillon Black Belt Platinum Member

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    Jesus fucking Christ.

    So bold.
     
  4. Trotsky

    Trotsky Undisputed Co-Winner of 2019 Best WR Poster

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    "Don't cooperate with investigations into medications people need to survive: it might hurt your stock prices. Those Democraps are just trying to destroy the economy.
     
    7437, Juventud, aitkenmike and 3 others like this.
  5. oldshadow

    oldshadow Steel Belt

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    I’m all for reducing drug prices.

    However forcing drug companies into bankruptcy due to crashing stocks is not going to help anyone in the short or long term.

    The companies should be forced to give up the info if it is legally abstained.

    However the information should not be released without a court order.
     
    usmctanker242 likes this.
  6. oldshadow

    oldshadow Steel Belt

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    By released I mean to the general public.
     
  7. Trotsky

    Trotsky Undisputed Co-Winner of 2019 Best WR Poster

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    Republican voters should be all over this. With transparent pricing, we can probably halve the price of prescription-level lubricant that they all use to let Republicans and their corporate cronies ram them in their assholes 24/7/365.
     
  8. oldshadow

    oldshadow Steel Belt

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    So when you drive the drug companies out of business what then.

    I believe a legal investigation should be able to get the information they need as long as it’s gotten legally.

    The release of that information should not be allowed if it’s private.

    Not released unles there is a court ordered.
     
    usmctanker242 likes this.
  9. D 1 Wrestler

    D 1 Wrestler Look up to me

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    Again forcing bankruptcy and tanking stock prices infers they are doing something wrong/bad
     
  10. Gandhi

    Gandhi War Room Deep State Platinum Member

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    Who has been forced into BK?
     
  11. oldshadow

    oldshadow Steel Belt

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    Then the investigation will show it and legal charges made then the court could release the information.
     
  12. oldshadow

    oldshadow Steel Belt

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    No one yet but is a companies recorders are released and the companies stock value hit the bottom it would happen.
     
  13. Limbo Pete

    Limbo Pete Fake History Man

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    This is what happens when a party operates with nothing reigning them in. They can do this kind of beyond-the-pale garbage and there's few in their voter base that will give much of a flying fuck. It's a license to douche.
     
    7437, JDragon, Jack V Savage and 11 others like this.
  14. BarryDillon

    BarryDillon Black Belt Platinum Member

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    You broke my hyperbole meter again.
     
    Higus, kpt018, Juventud and 6 others like this.
  15. BarryDillon

    BarryDillon Black Belt Platinum Member

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    Going full Helen Lovejoy.

    "Oh won't someone please think of the multibillion dollar pharmaceutical companies!!!"
     
    7437, TheWorm, Higus and 13 others like this.
  16. xcvbn

    xcvbn Gold Belt

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    It never ceases to amaze me that the primary focal point of GOP voters is some brown people coming to our country to work, with the excuse that they're committing crimes or lowering Americans' wages, but when you talk about the actual DEATH and DESPAIR brought on by American businesses to MILLIONS of fellow AMERICANS?

    Silence.

    Yeah, let's focus on the evil brown people who are often knowingly hired as illegal labor. Not their illegal employers, or better yet, god-forbid we focus on an actual real life crisis that is killing Americans by the tens of thousands: exorbitant health care costs.

    Mother fuckers.
     
    nicapica, Gundarmyx, TheWorm and 11 others like this.
  17. oldshadow

    oldshadow Steel Belt

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    The fear is the release of the information could drive their stock into the shitter.

    If what they are doing is illegal then fuck them and take them to court and release the charges and why.

    If it’s legal then find a way to reduce the price within fucking up shit.

    I’m for being able to get drugs in the US from Canada and let big stores get it cheaper there and pass the savings on to the people.

    I’m all for working on ways to make sure the price is fair and getting drug prices down.
     
  18. oldshadow

    oldshadow Steel Belt

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    I’m all for punishment for companies doing illegal shit.

    Say like knowing hiring illegals.

    I say fine them out of business.

    $10,000 a day for every illegal they have on the pay roll.

    You can be against more then one thing.
     
  19. Lowmanproblems

    Lowmanproblems Red Belt Platinum Member

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    This is the sort of shit that makes me wonder why common folks would ever vote Republican.
     
    7437, japman40, Juventud and 5 others like this.
  20. BudKing8806

    BudKing8806 Brown Belt

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    How do you know that there is prescription level lubricant? If not taking it in the ass(which I'd assume), what kind of old dried up hags are you fucking?
     

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