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Every year is a banner year for pharmaceutical companies because every year they rake in billions of dollars in profits. At the same time, Big Pharma spends more on stock buybacks, dividends, and executive compensation than research and development. The numbers are eye-popping: over $112 billion in profits for 10 large drugmakers when 25% of Americans are unable to afford needed prescriptions.

These drugmakers, many based overseas, charge Americans more for lifesaving medications than anyone else in the world. For example, the blood thinner Eliquis sold for $1,300 a year in the U.S. in 2013 compared with $1,000 in Japan. By 2024, Eliquis cost only $900 a year in Japan but $7,100 in the U.S.

Overcharging Americans is part of Big Pharma’s business model centered on protecting their profits no matter who’s harmed in the process. In recent years, part of their strategy has been to flat-out flout the requirements of the federal 340B drug pricing program. They’re limiting access to the savings that hospitals pass onto patients in reduced prescription costs and lifesaving services. The hospitals participating in 340B care for large numbers of uninsured and low-income patients and include safety net hospitals and critical access hospitals.

Vote YES on HB 2371 SA 2 to prevent Big Pharma from harming patients across Illinois. Learn more.