All three broadcast networks Tuesday morning seized on a pharmaceutical company hiking the price of a prescription drug in order to promote Hillary Clinton’s call for new government regulation of the industry. At the top of NBC’s Today, co-host Savannah Guthrie proclaimed: “5,000% hike?! The young drug company CEO under fire for raising the cost of a life-saving pill overnight....The controversial decision making it all the way to the campaign trail.”
A soundbite ran of Clinton declaring: “Nobody in America should have to choose between buying the medicine they need and paying their rent.” Guthrie added: “How that CEO has become a pariah and thrust the battle over prescriptions and price-gouging into the spotlight.”
In the full report that followed, correspondent Tom Costello fretted: “You know, this is really a growing phenomenon. Dramatic increases in drug prices raised by pharmaceutical companies focused on their bottom line...”
After playing another soundbite of the Democratic front-runner labeling the move “disgraceful,” Costello touted: “Speaking at an event in Little Rock, Hillary Clinton promised to start holding drug companies accountable for their prices.”
At the top of the 8 a.m. ET hour, news anchor Natalie Morales noted: “Democratic contender Hillary Clinton is expected to provide new details today on her plan to hold the line on prescription drug prices....Mrs. Clinton also tweeted about what she called ‘outrageous price gouging’ by companies that buy older drugs and then turn them into expensive specialty drugs.”
CBS This Morning also devoted a full segment to the topic, with correspondent Don Dahler grilling Turing Pharmaceuticals CEO Martin Shkreli: “This particular drug is used by a small but vulnerable group of patients, so you see how greedy this move looks?”
A clip ran of oncologist and CBS News medical contributor Dr. David Agus: “It's predatory practice and it's inappropriate and we have to take a stand.”
Dahler highlighted how Clinton and fellow Democratic presidential candidate Bernie Sanders were taking on the issue:
The topic entered the political debate on Monday, with Democratic presidential candidate Hillary Clinton tweeting, “Price gouging like this in the specially drug market is outrageous.” Her rival Bernie Sanders sent a letter to Turing CEO Shkreli demanding information on the price increase and calling the rate hike “the latest in a long list of skyrocketing price increases for certain critical medications.” Sanders and Congressman Elijah Cummings have been investigating drugs that have seen a jump in price.
Another soundbite ran of Dr. Agus demanding: “Right now it's out of control. And so we, as a country, as a government, as individuals, as doctors, all have to get together and say we need to make pricing appropriate.”
Dahler wrapped up the segment: “Hillary Clinton says she will layout a plan today about how to take on what she calls price gouging in the specialty drug market.”
ABC’s Good Morning America only offered a news brief on the topic, but maintained the effort to publicize Clinton’s campaign. News anchor Amy Robach announced:
And Wall Street is reacting to a new proposal from Hillary Clinton. She wants to cap prescription drug prices for some patients at $250 per month. Word of that plan sent biotech and drug stocks plunging. It comes amid growing outrage over a 5,000% increase in the price of a drug used by cancer and AIDS patients. Clinton calls that price gouging.
Here is a full transcript of the September 22 report on Today:
7:31 AM ET
SAVANNAH GUTHRIE: Well, in the meantime, a lot of people get their prescription drugs and have a bit of sticker shock, but wait until you hear this, the 32-year-old head of a pharmaceutical company the face of global outrage this morning because he raised the price of a life-saving drug overnight by 5,000%. It's a controversial decision, and he is defending it. NBC's Tom Costello has the story this morning. Tom, good morning to you.
[ON-SCREEN HEADLINE: CEO Slammed for Drug “Price Gouging”; Clinton Weighs in on “Outrageous” 5000% Jump]
TOM COSTELLO: Hi, Savannah. You know, this is really a growing phenomenon. Dramatic increases in drug prices raised by pharmaceutical companies focused on their bottom line and this company, in particular, causing this firestorm. Let's say this one more time, raising prices by 5,000% for one drug that's been around for 62 years. Now the heat's being felt from Wall Street to the campaign trail.
It's enough to make you sick. Drug prices not just doubling or tripling, but in some cases soaring 2,000%, 3,000%, even 5,000%. The latest bombshell by a company called Turing Pharmaceuticals, which recently acquired a drug called Daraprim and raised the price from $13.50 a tablet to a stunning $750 a tablet.
MEG TIRRELL [CNBC BIOTECH AND PHARMA REPORTER]: Right now there's no sort of regulation in place that says this company can’t price the drug where it is.
COSTELLO: Daraprim is used to treat life-threatening parasitic infections sometimes contracted by vulnerable AIDS patients. The CEO of Turing, a former hedge fund manager, defends the move, insisting the money will go to develop a better version of the drug.
MARTIN SHKRELI [TURING PHARMACEUTICAL CEO]: This is the more appropriate price for Daraprim. At this price Daraprim is still actually on the low end of what orphan drugs cost and we're certainly not the first company to raise drug prices.
HILLARY CLINTON: I mean, it's disgraceful.
COSTELLO: Speaking at an event in Little Rock, Hillary Clinton promised to start holding drug companies accountable for their prices.
CLINTON: Nobody in America should have to choose between buying the medicine they need and paying their rent.
COSTELLO: Across social media, people blasted Shkreli's decision, making him immediately unpopular. But Shkreli is fighting back, tweeting the lyrics to a song by rapper Eminem, “It seems like the media immediately points a finger at me so I point one back at 'em, but not the index or pinkie”
TIRRELL: In response to all of this attention and doctors and patient groups saying they can't access this drug, are you going to change the price?
SHKRELI: No.
COSTELLO: Investors will be watching very closely biotech stocks on Wall Street today, following Hillary Clinton's focus on the issue of drug prices. The index of biotech stocks dropped nearly 5% on Monday. Shkreli, by the way, remains defiant, he will not drop the price of Daraprim, he says. Guys, back to you.
GUTHRIE: Tom Costello, thank you very much.
MATT LAUER: You understand the need to invest in better drugs, but 5,000% , an increase, seems way out of bounds.
NATALIE MORALES: An outrage.
GUTHRIE: That's what I think got a lot of people talking for sure.
