{"id":2019031,"date":"2023-09-01T05:28:06","date_gmt":"2023-09-01T09:28:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrat-jacky-rosen-sees-big-pharma-investments-soar-while-urging-lower-drug-prices\/"},"modified":"2023-09-01T05:30:51","modified_gmt":"2023-09-01T09:30:51","slug":"democrat-jacky-rosen-sees-big-pharma-investments-soar-while-urging-lower-drug-prices","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrat-jacky-rosen-sees-big-pharma-investments-soar-while-urging-lower-drug-prices\/","title":{"rendered":"Democrat Jacky Rosen profits from Big Pharma investments while advocating for reduced drug costs."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdemocrat-jacky-rosen-sees-big-pharma-investments-soar-while-urging-lower-drug-prices%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2019031&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Sen. Jacky Rosen (D-NV) Profits\u2064 from Investments in Drug Companies Despite Promises to Lower Prices<\/h2>\n<p>Sen. Jacky Rosen (D-NV), who faces a tough 2024 reelection bid in \u200cthe swing state of Nevada, reaped a \u200dwindfall\u200d in profits from her\u200d investments\u2064 in companies that have jacked up drug prices \u2014 all while the Democrat has touted support for lowering them.<\/p>\n<p>Rosen has described on\u200b social media how she hears from &#8220;constituents every week who are concerned about\u2063 the rising cost of prescription drugs,&#8221; and has vowed to &#8220;keep fighting to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/star-of-sen-mark-kelly-campaign-ad-called-white-men-single-greatest-domestic-terrorist-group\/\" title=\"Star of Sen. Mark Kelly Campaign Ad Called White Men 'Single Greatest Domestic Terrorist Group'\">lower prescription drug costs<\/a> for everyone.&#8221; The Nevada Democrat, who Republicans have slammed over \u2062her campaign spending cash at luxury\u200b restaurants and hotels, disclosed in 2022 holding up \u2064to\u2064 roughly $300,000 \u2064in shares of major pharmaceutical and biotechnology companies.<\/p>\n<blockquote>\n<h3>CLARENCE THOMAS&#8217;S 2022 FINANCIAL DISCLOSURE RELEASED AFTER MONTHS OF &#8216;ETHICS&#8217; PRESSURE<\/h3>\n<\/blockquote>\n<p>News of the investments\u200b come as\u200c Rosen takes a victory lap over helping \u2063&#8221;to allow\u200b Medicare to negotiate for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/senate-budget-committee-chairman-sanders-says-they-will-consider-6-trillion-budget-bill\/\" title=\"Senate Budget Committee chairman Sanders says they will consider  trillion budget bill\">lower prescription drug prices<\/a>&#8221; with pharmaceutical companies through her vote in favor of the Inflation Reduction Act \u2014 a $740 billion tax, climate, and healthcare spending\u200c package President Joe Biden signed into law in 2022. Prominent free market \u2063groups, including Americans for Tax Reform, have argued the \u200b&#8221;price controls&#8221; law will only initially reduce \u200ddrug costs, while in the long term resulting in hiked taxes and an overly regulated system, threatening supply and manufacturing \u200cjobs.<\/p>\n<p>&#8220;Senator Rosen&#8217;s complaints \u200cabout drug profits\u200d rings hollow when she is padding her\u200b stock portfolio \u200bwith\u200c the dividends from those same drug companies,&#8221; Tom Jones, president of the conservative American Accountability \u200dFoundation watchdog group, told the Washington Examiner. &#8220;If she \u2064was so \u200cupset with Big Pharma&#8217;s profits,\u200b she&#8217;d instruct her financial adviser to divest from those companies \u200cand put her money where her mouth is.&#8221;<\/p>\n<p>Rosen&#8217;s pharmaceutical and biotechnology\u2063 stocks have delivered her major dividends, while\u200b her 2022 filing lists joint holdings in eight companies that provided income\u2062 of as much \u2064as $9,500, disclosures show.<\/p>\n<p>The latest disclosure included Rosen&#8217;s shares worth up \u200cto $15,000\u200d in\u200b Amgen, a drugmaker that\u2063 handed the senator up to $2,500 in dividends in 2022, according\u200d to disclosures. In \u200cMay, Biden&#8217;s \u200cFederal Trade Commission sued Amgen as part of an \u200ceffort to\u2063 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrat-jacky-rosen-sees-big-pharma-investments-soar-while-urging-lower-drug-prices\/\" title=\"Democrat Jacky Rosen profits from Big Pharma investments while advocating for reduced drug costs.\">purportedly\u2062 fight prescription drug price hikes<\/a>. And back in \u20622020,\u200d House Democrats released a 41-page report that took aim \u200cat Amgen\u200c for\u2062 its &#8220;uninhibited price increases&#8221;\u2064 for drugs, including\u2063 Enbrel, which had seen its price raised\u200c over \u200d20 times since 2002.<\/p>\n<p>Other Democrats \u2063who\u200d have called for\u2064 lower drug\u2064 prices and invested in \u200bAmgen over the years include Reps. Ro Khanna (D-CA), Josh Gottheimer (D-NJ), Kathy Manning (D-NC), and Earl Blumenauer (D-OR). A long-time congressman, Blumenauer was at the center of calls from \u200dwatchdogs for investigations \u2062in late \u20632022 after the Washington\u200c Examiner reported his wife bought Amgen shares before\u200d the Department of Health and Human Services, which \u200dhe oversees as a member \u2062of \u2062the health subcommittee for the Ways and Means Committee,\u200d handed the company hundreds of millions of dollars for drug supplies.<\/p>\n<p>&#8220;To draw off a phrase currently in vogue, this \u2062seems to embody \u200dthe problem with the &#8216;rich\u200b men, and women, north of Richmond,'&#8221;\u200d said \u200cPete McGinnis, spokesman for the Functional Government Initiative watchdog group, referring\u2062 to the song &#8220;Rich Men North of Richmond&#8221; by Oliver Anthony \u200dthat Republicans have embraced as a \u200bworking-class anthem.<\/p>\n<p>In 2022, Rosen also disclosed holding up to $50,000 in shares of Gilead\u2064 Sciences. The company delivered Rosen up to $1,000 in dividends that year and skirted &#8220;nearly\u200d $10 billion in\u200c U.S. taxes by the\u200d end of 2015&#8243;\u200c while raking in cash via its &#8220;overpriced HCV drugs,&#8221; according to Americans for Tax Fairness, a left-of-center \u200cgroup.<\/p>\n<p>The senator reported pulling up to $2,500 in 2022 dividends through her holdings totaling as much as $50,000 in Novartis, a Swiss pharmaceutical corporation that reportedly hiked drug prices\u2062 an average of 7.5% on 75 products this year. \u2063Pfizer, in which Rosen in 2022 reported holding up to $50,000 worth, while\u2063 delivering her up to \u200d$2,500 in dividends that year, has sparred with Democratic \u2062lawmakers over its \u200cefforts to demand drug price\u200d negotiations, Politico reported.<\/p>\n<p>&#8220;These \u200dare longstanding investments from before she was elected to Congress,&#8221; a Rosen spokesman said. &#8220;Senator Rosen has been a leader in the\u200c fight to lower prescription drug costs \u2063for hardworking Nevadans \u2014 successfully taking on drug companies to deliver historic action that finally allows Medicare to negotiate\u2062 for lower drug \u2062prices and cap insulin at $35 a month.&#8221;<\/p>\n<p>Other major pharmaceutical or biotechnology companies that have counted Rosen as a shareholder have included Alcon, ImmuCell Corporation, and Viatris, according to disclosures. Jazz Pharmaceuticals, an Ireland-based company that the senator in 2022 \u2064reported holding up \u200dto $50,000 worth, reportedly\u2064 increased prices fourfold since 2006 for its narcolepsy drug Xyrem.<\/p>\n<p>Former top federal government officials told the Washington Examiner \u200dthey ultimately think Democrats like Rosen are\u200d approaching drug policy in \u200ca way that will harm the\u2062 public\u200c and not lower costs \u2062in the end.<\/p>\n<p>&#8220;President Biden wants <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republican-senators-against-increasing-the-size-of-the-supreme-court\/\" title=\"Republican senators against increasing the size of the Supreme Court\">government-run healthcare<\/a> more than he wants lower drug prices,&#8221; said Brian \u2064Harrison, ex-chief of staff for the Department of Health and\u200d Human Services under\u2063 former President Donald\u200d Trump and now a GOP Texas state House member.<\/p>\n<p>Ann Marie Buerkle, who was \u200ca commissioner for the U.S. Consumer Product Safety Commission under President Barack Obama and Trump, said Democrats &#8220;ignore&#8221; pharmacy benefit managers\u2062 as a private industry solution to lowering medication costs. PBMs are third-party companies acting as intermediaries between pharmaceutical manufacturers and insurance providers.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/news\/sen-jacky-rosen-d-nv-profits-from-investments-in-drug-companies-despite-promises-to-lower-prices\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/p>\n<p>A handful of Republicans are looking to take on \u2062Rosen in \u200b2024, including Army veteran Sam Brown, ex-U.S. ambassador to \u200bIceland Jeff Gunter, ex-Air Force lieutenant\u200b colonel Tony Grady,\u2064 and former Nevada Secretary of State hopeful Jim \u2064Marchant. The Senate seat leans blue, according to the \u200cCook Political\u2064 Report, a nonpartisan elections \u200ctracker.<\/p>\n<p>&#8220;Ritzy Rosen has zero credibility\u2063 on this issue,&#8221;\u2064 Brown&#8217;s campaign\u200b manager Faith Jones told the Washington \u2063Examiner, referring to\u200c the senator&#8217;s \u200dhealthcare positions.\u2064 &#8220;Unlike Jacky Rosen, Sam Brown is on \u200cthe side of Nevadans, not Big Pharma.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sen. Jacky Rosen (D-NV), facing a challenging 2024 reelection in Nevada, gained substantial profits from investments in drug price-hiking companies. This contradicts her public stance of advocating for lower drug prices. On social media, Rosen claims to listen to &#8220;constituents,&#8221; but her actions suggest otherwise.<\/p>\n","protected":false},"author":1,"featured_media":2019032,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2019031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2019031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2019031"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2019031\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2019032"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2019031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2019031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2019031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}