Suozzi: Pharma Spends More on Tv Commercials and Sales Promotions than On Research and Development

Press Release

Congressman Tom Suozzi (D -- Long Island, Queens) attended a House Ways and Means Committee hearing on the rising cost of prescription drug prices. With drug prices continuing to rise, middle-class Americans are forced to choose between filling their necessary prescription drugs, paying the rent, and feeding their families.

"We often hear that any action we take to lower drug prices may have an impact on innovation for pharmaceutical companies," said Congressman Suozzi. "In fact, pharmaceutical companies spend more on television commercials and sales promotion than on research and development."

To see Congressman Suozzi's complete remarks at the hearing, please click here: https://youtu.be/_z_1rJ6D2vs?t=10696

Both Democrats and Republicans agree that it is imperative that we work together to reduce the cost of life-saving medications. Yet, over the last two years, drug prices have soared with the list prices of 20 prescription drugs increasing more than 200 percent. That is why Congressman Suozzi remains committed to making prescription drugs more affordable to ensure all American people have access to life-saving treatments.

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