Latest Move Shows Big Pharma’s Revolving Door to the Trump Administration
WASHINGTON — A top Food and Drug Administration (FDA) official has officially announced his decision to jump ship and head regulation at biopharmaceutical company, Regeneron. The news comes on the heels of the White House’s second closed-doored meeting this week with major drug executives and further shows the Trump administration’s inappropriately close ties with pharmaceutical insiders.
“The fox is in charge of the hen house when it comes to reigning in big pharma under this administration,” said Lizzy Price, Director of Restore Public Trust. “Once again, we are seeing the revolving door between our government and big pharmaceutical companies. With the president and Secretary Azar in charge, drug prices are on the rise and the pharmaceutical industry has Washington wrapped around its little finger. Americans deserve to know whose bottom line government employees are looking out for – American families’ or their buddies in the pharmaceutical industry?”
Second-quarter earnings calls showed drug companies are maximizing profits under Health and Human Services Secretary Alex Azar and the Trump administration. In an interview with CNBC in August, a major pharma exec showed that, despite presidential and congressional promises to lower prescription drug prices, he isn’t too concerned about the future of the pharmaceutical industry.
In June, Restore Public Trust launched the website, BigPharmasBestFriends.org, exposing sixteen Trump administration officials who have made almost $6 million from the pharmaceutical industry while everyday Americans struggle to find the money for lifesaving drugs they need.
Among them are Azar, an executive of Eli Lilly when the company increased the price of Humalog, a top-selling insulin, by 345%, and Acting FDA Commissioner Ned Sharpless, who co-founded G1 Therapeutics and owned at least $6 million in assets, and whose former company’s stock soared after their drug was fast-tracked by the FDA, just weeks after Sharpless was named to the position.