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Pfizer Gets $11 Billion from #TrumpHoldingTaxScam, Raises Prices on Drugs

PFIZER GETS $11 BILLION FROM #TRUMPHOLDINGTAXSCAM, THEN RAISES PRICES ON HUNDREDS OF WIDELY USED DRUGS AND GIVES CEO A 61 PERCENT RAISE

Another broken promise that drug companies would make “massive” price cuts

Raleigh, NC – Since receiving billions in savings from the #TrumpHoldingTaxScam, Pfizer has jacked up prices for widely used prescription drugs and cut Alzheimer’s and Parkinson’s research that working families in Congressman George Holding’s NC District 2 depend upon. List prices for many of these drugs will increase by as much a 9.4 percent now and by double-digit percentages for 2018 overall. Just days after the #TrumpHoldingTaxScam was signed into law, Pfizer CEO Ian Read received an increase of 61 percent in his executive compensation, from $17.3 million to over $27 million.

North Carolinians For a Fair Economy (NCFE) continues to denounce Congressman George Holding’s baseless claim that, “…reducing business taxes creates more jobs and higher wages.” (Twitter, @GeorgeHolding, 12/6/17). Holding mindlessly repeats the false GOP talking point that economic gains will eventually “trickle-down” to regular Americans as a result of handing over tax cuts to billionaires and wealthy corporations.

Not One Penny spokesperson Ryan Thomas released the following statement after Pfizer’s latest round of massive prescription drug prices:

“The $10.7 billion in tax cuts Pfizer got from the GOP tax bill in 2017 are lining the bank accounts of its executives and shareholders while working Americans pay the price. This latest round of price increases on critical prescription drugs like lung cancer treatments are truly beyond the pale and fly in the face of President’s Trump promise of ‘massive’ prescription drug price cuts on the way. Billions in giveaways to the biggest pharmaceutical companies didn’t help working families but instead helped further enrich wealthy corporations and millionaire CEOs.”

Once again, the working families in NC District 2 are left behind to ask, “Congressman Holding, Don’t We Matter?”