Rep. Katie Porter eviscerates pharma CEO with a brutal math lesson about his $13 million salary

On Wednesday, three pharmaceutical executives, including former Celgene CEO Mark Alles, testified on drug pricing for the House Oversight Committee. While at the company, Alles saw a massive increase in the price of the cancer drug Revlimid — and Porter broke down just what it got Alles in return.

Porter started her takedown by asking Alles if he knew what a Revlimid pill cost in 2005: $215, she reminded him with the help of a whiteboard. And by the time Alles left the company late last year, after its sale to Bristol-Myers Squibb, a single Revlimid pill cost $763."Did the drug get substantially more effective in that time? Did cancer patients need fewer pills?" Porter questioned, trying to figure out why Celgene upped the price.

Porter then moved on to tear apart the $13 million Alles made in 2017 as Celgene's CEO."It's 200 times the average American's income and 360 times what the average senior makes on Social Security," Porter noted. She then reminded Alles just how he made"half a million dollars, personally, just by tripling the price of Revlimid.

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Watch Rep. Katie Porter grill pharma exec over cancer drug price hikesRep. Porter (D-Calif.) questioned ex-Celgene CEO Mark Alles during a House Oversight Committee investigation into the pricing of Bristol-Myers Squibb’s cancer drug Revlimid. It's good to know that even pharma executives can come across as worthy of sympathy (not really:)) Watching Katie Porter own terrible people is my kink! 💙 Yeah... these are cool and all seeing White Collar guys get hammered for 30 minutes, but haven’t seen seen plenty of this? I’ll take a verbal beat down knowing nothing is really going to change. So yeah.. cool they lost a battle, but how’s the War going?
Source: NBCNews - 🏆 10. / 86 Read more »

Rep. Katie Porter Makes Pharma Exec Squirm Over Cancer Drug Price HikesThe California lawmaker relentlessly grilled the former Celgene CEO for earning bonuses off the backs of cancer patients. How many people donate to Gofundme campaigns for cancer patients and then those funds just go directly to executive bonuses and shareholders? This system of healthcare is corrupt.
Source: HuffPostWomen - 🏆 27. / 68 Read more »