[Congressional Record Volume 146, Number 4 (Thursday, January 27, 2000)]
[Extensions of Remarks]
[Pages E10-E11]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   BRISTOL-MYERS SQUIBB, YOU SURE WE CAN'T LOWER DRUG PRICES WITHOUT 
                              HURTING R&D?

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                        HON. FORTNEY PETE STARK

                             of california

                    in the house of representatives

                       Thursday, January 27, 2000

  Mr. STARK. Mr. Speaker, the pharmaceutical industry constantly tells 
us they need every dollar for R&D, so they can invent wonderful new 
drugs, and that Congress must not do anything to question how they 
price drugs.
  A doctor sent me the following invitation he got from Bristol-Myers 
Squibb. As the doctor wrote:

       Since the enclosed invitation to a dinner plus $100 
     certificate continues to be commonplace, it makes me wonder 
     how many go without needed medications that could be funded 
     with these solicitations. I'm not sure whether it's the 
     pharmaceutical executives or the physicians who are doing the 
     soliciting . . . just like on the street.

  Bristol-Myers Squibb: why not put the money you spend in these 
solicitations into R&D--or lower drug prices?

[[Page E11]]

  The U.S. pharmaceutical industry spends far more on marketing and 
overhead than it spends on R&D--despite what Flo and her front group 
friends say. This letter is just one small example of how the industry 
could, indeed, save money for R&D and/or lower prices.

                          Bristol-Myers Squibb

       You are cordially invited to Participate in a dinner 
     discussion on ``Treatment Modalities Throughout the Lifecycle 
     of the Type 2 Diabetic Patient: A Focus on Monotherapy 
     Approaches,'' on, Monday, November 29, 1999, Mr. Stox 
     restaurant, 1105 East Katella Avenue, Anaheim, CA 92805, at 
     6:30 p.m.
       The program will last approximately one hour and a half. 
     Each attendee will receive a certificate worth up to $100 
     towards the purchase of medically relevant items. 
     Reservations are taken on a first come first serve basis.
       To make a reservation, please call 1-800-366-9034.

       

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