Elizabeth Warren Sets Sights on Pharmaceutical Industry

January 27th, 2015

Last week on January 22, 2015, Senator Elizabeth Warren (D – MA) delivered remarks at the Families USA Health Action Conference in Washington, DC, where she set her sights on tackling fraud and abuse in the pharmaceutical industry.  The Senator gained notoriety as the architect behind the Consumer Financial Protection Bureau (CFPB) and the figurehead for Wall Street reform. Now it appears that Senator Warren plans to reform Big Pharma and funding for the National Institutes of Health (NIH).

Senator Warren announced her plans to introduce a new bill, the Medical Innovation Act, to fund the ailing NIH with fines on the drug makers. In her remarks, the Senator said the pharmaceutical industry has “been caught defrauding Medicare and Medicaid, withholding critical safety information about their drugs, marketing their drugs for uses that aren’t approved and giving doctors kickbacks for writing prescriptions for their drugs.”

With rhetoric like, “It seems that the biggest drug companies are increasingly playing by a different set of rules than everyone else,” it looks like the pharmaceutical industry is facing a formidable opponent in Senator Warren.

 

Read More: