Oireachtas Joint and Select Committees

Wednesday, 22 June 2022

Joint Oireachtas Committee on Health

Rare Diseases: Discussion (Resumed)

Photo of Gino KennyGino Kenny (Dublin Mid West, People Before Profit Alliance) | Oireachtas source

Most people understand that states have to get value for money on drugs that can be beneficial to their citizens. Do our guests acknowledge, at the same time, that pharmaceutical companies are making vast amounts of money? They are beholden to their shareholders rather than the people their drugs are meant to treat.

Some of the profits that these companies make are absolutely incredible. Obviously, they will argue that they put all the research and development in and the final product, the drug itself, was produced because of the money they put in. That is fair enough, but there is something immoral about the vast amount of money they price these drugs at. There have been instances where literally entire states do not get certain drugs because of price. I know individuals who simply have gone without because they cannot get it because of price. To me and to most people listening, that is not right. Mr. Woods must acknowledge that these companies make a vast amount of money but do not have an obligation to states and patients in relation to access.

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