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

Rep. Katie Porter (D-Calif.) by no means wastes a possibility to roast a CEO.

On Wednesday, three pharmaceutical executives, together with former Celgene CEO Mark Alles, testified on drug pricing for the Home Oversight Committee. Whereas on the firm, Alles noticed an enormous improve within the value of the most cancers drug Revlimid — and Porter broke down simply what it acquired Alles in return.

Porter began her takedown by asking Alles if he knew what a Revlimid tablet price in 2005: $215, she reminded him with the assistance of a whiteboard. And by the point Alles left the corporate late final yr, after its sale to Bristol-Myers Squibb, a single Revlimid tablet price $763. “Did the drug get considerably simpler in that point? Did most cancers sufferers want fewer tablets?” Porter questioned, attempting to determine why Celgene upped the value. Alles answered by saying Revlimid proved efficient in additional sufferers. “So that you found extra sufferers who would possibly profit from paying $763 a tablet?” Porter rhetorically responded, outlining how the common senior in her district could not even afford one tablet.

Porter then moved on to tear aside the $13 million Alles made in 2017 as Celgene’s CEO. “It is 200 instances the common American’s earnings and 360 instances what the common senior makes on Social Safety,” Porter famous. She then reminded Alles simply how he made “half 1,000,000 {dollars}, personally, simply by tripling the value of Revlimid.” “The drug did not get any higher, the most cancers sufferers did not get any higher, you simply acquired higher at earning profits,” Porter concluded. Watch her questioning beneath.

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