Despite Pharma’s Vaccine PR, Voters Overwhelmingly Support Lowering Drug Prices
by Alex Lawson
Big Pharma corporations are in the midst of an unprecedented — and undeserved — burst of popularity. Thanks to slick PR and friendly media coverage, they are enjoying credit for developing the COVID-19 vaccines. In fact, these vaccines were developed with our taxpayer dollars. Dolly Parton spent more money to develop the Moderna vaccine than Moderna did. Moderna literally put zero dollars into developing the vaccine that bears their name. Talk about a good PR campaign.
In a recent Data for Progress survey, 75 percent of likely voters expressed approval for how Big Pharma companies have “handled vaccine development in response to the pandemic”. But here’s what political leaders need to know: In the same survey, 73 percent of likely voters expressed disapproval of how Big Pharma companies are “handling the rising cost of prescription drugs”.
In other words, even Big Pharma’s vaccine PR hasn’t dampened public anger at skyrocketing prescription drug prices. The Biden administration and Congressional Democrats have a public mandate to take bold steps to lower drug prices.
The Data for Progress survey went on to test Big Pharma’s talking points directly, asking voters to choose between two statements: “Pharmaceutical companies did a good job developing the coronavirus vaccine, and we shouldn't burden them with additional regulations that will prevent the development of new life-saving prescription drugs” and “Pharmaceutical companies did a good job developing the coronavirus vaccine, but we still need to regulate them to reduce the high cost of prescription drugs in the U.S. to ensure all Americans have access to life-saving medications”. Seventy-seven percent of voters, including 74 percent of Republicans, picked the second statement because drug prices are too high!
There’s no doubt that when Democrats introduce legislation to lower drug prices, Big Pharma will point to the COVID-19 vaccines and insist that any challenge to their monopoly pricing will crush innovation. As these survey results show, Biden and Congressional Democrats should ignore Pharma’s complaints. Even in the midst of Big Pharma’s vaccine-induced popularity, the public is clamoring for lower drug prices.
When voters were asked about specific policies, their support remained enthusiastic. Seventy-six percent of voters support allowing Medicare to negotiate the cost of prescription drugs, and using the savings to invest in American infrastructure. Seventy-two percent support going further by allowing the government to negotiate the cost of all prescription drugs for everyone, not just Medicare beneficiaries. Eighty percent support busting Big Pharma’s monopolies by allowing multiple companies to produce generic alternatives to prescription drugs.
Voters also support lowering drug prices to match those in other countries. Sixty-nine percent support capping the price of insulin and brand-name drugs at 120% of the cost of these drugs in other developed nations like Canada and Australia. Seventy-six percent support ensuring a "price match" for prescription drugs in the U.S. to make them the same cost as they are in other countries.
These results show that Big Pharma’s vaccine-related popularity is a mirage, and policy makers should not fear it. Even people who declare themselves #TeamPfizer in their vaccine selfies haven’t suddenly forgiven Big Pharma for price gouging prescription drugs.
Americans are tired of cutting prescription drugs in half to make them last longer, while Big Pharma CEOs buy yet another yacht. If President Biden and Congressional Democrats take bold action to curb Big Pharma’s monopoly power and lower drug prices, voters will reward them in 2022.
Alex Lawson (@alaw202) is the Executive Director of Social Security Works.