the staff of the Ridgewood blog
Trenton NJ, New Jersey advertises itself as the “Medicine Chest of the World.” Nine of the largest drug companies in the nation are either headquartered in, or have major operations clustered in the Garden State.
The list includes : Johnson & Johnson , Merck & Co. , Bristol-Myers Squibb, Novartis , Celgene , Bayer HealthCare , Sanofi , Stryker Orthopaedics , and Pfizer .
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State of New Jersey officials boast that we are “proud champions of the life sciences industry.” Looks like no one sent that memo to the two New Jersey Democratic senators in Washington: Cory Booker (Twitter) and Bob Menendez (Dominican Republic) .
The Democrats’ latest scheme to pass another budget-busting Build Back Better spending bill is to impose price controls on American pharmaceutical companies. NY Senator Chuck Schumer thinks he can squeeze as much as $250 billion over the next decade out of “Big Pharma” with these drug price caps.
Obviously, the biggest loser from drug price controls will be Americans with diseases ranging from cancer to Parkinson’s to Alzheimer’s. Capping prices on life-saving drugs means less innovation and delays in bringing new wonder drugs to market like the COVID vaccine. Drug price controls literally kill people.
The state that would be the biggest loser is New Jersey. Word is that NJ senators, Cory Booker and Robert Menendez will do what they are told and vote yes for this attack on their home state industry.
