By Matt Rooney
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We heard a ton about biotech power house Celgene and its drug pricing during last year’s U.S. Senate battle between Bob Menendez and Bob Hugin, Save Jerseyans, but it’s back in the news this week after Bristol-Myers Squibb announced Thursday that it was buying Celgene Corp. for $74 billion (plus debt).
Enter our old buddy Gropacus (f/k/a Cory Booker) who waded into the debate on Friday afternoon with some very characteristic Twitter commentary:
“Since the Trump tax cut, Celgene has issued $8 billion in stock buybacks for shareholders without meaningfully lowering drug prices. I wrote Bristol and Celgene last year to urge them to do more to lower drug prices. This merger doesn’t help.”
Since the Trump tax cut, Celgene has issued $8 billion in stock buybacks for shareholders without meaningfully lowering drug prices. I wrote Bristol and Celgene last year to urge them to do more to lower drug prices. This merger doesn’t help. https://t.co/w0xqooeO2N
— Cory Booker (@CoryBooker) January 4, 2019
There’s a reason why he’s talking about this now, of course, and it has nothing to do with helping seniors and cancer patients get their hands on affordable medicine.
Booker is running for president. He needs to keep his “social justice warrior” street cred intact. But he pissed off a ton of Leftists grassroots types in 2017 when he voted against permitting the importation of cheap drugs from Canada. The legislation was opposed by big pharmaceutical companies who donated big money to Booker.
Now he’s going to try and convince Democrat primary voters (many of whom are just now tuning into his life story) that he’s really an anti-big pharmaceutical crusader.
We wish him the best of luck!
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