profits

Justice Dept. sues to seize profits of tell-all Melania Trump book, citing White House nondisclosure pact

An attorney for Winston Wolkoff did not immediately respond to a request for comment.

Winston Wolkoff, 50, had a 15-year friendship with Melania Trump before she was ousted in 2018 as an unpaid senior adviser to the first lady in a scandal involving President Trump’s $107 million inauguration. Winston Wolkoff has said she felt “betrayed” when news accounts focused on $26 million paid to her event-planning firm by the inauguration. Most of the money went to pay for inaugural events, and she personally retained $484,126, The Washington Post has reported.

In the book, Winston Wolkoff described what she viewed as extensive mismanagement and opaque accounting for the inauguration, after which she cooperated with law enforcement investigators.

But the former right-hand events planner to Vogue editor Anna Wintour has created a larger media storm this month by playing excerpts of phone conversations that she began secretly recording with the first lady in February 2018 without her knowledge.

Melania Trump’s chief of staff, Stephanie Grisham, has lambasted Winston Wolkoff for the recordings.

“Secretly taping the first lady and willfully breaking an NDA to publish a salacious book is a clear attempt at relevance,” Grisham said in an Oct. 2 statement to CNN. “The timing of this continues to be suspect — as does this never-ending exercise in self-pity and narcissism.”

The lawsuit is likely to draw renewed attention to the tapes, which capture Melania Trump venting in profane language about her frustrations with critical media coverage, expectations about her role in planning White House Christmas decorations and defending the administration’s separation of migrant children at the U.S.-Mexico border.

“Who gives a f— about the Christmas stuff and decorations?” Trump said in one portion played in interviews with Winston Wolkoff by CNN’s Anderson Cooper.

On another recording, the first lady refers to porn

High drug prices driven by profits, House committee reports find

Enormous drug company profits are the primary driver of soaring prescription drug prices in America, according to a damning investigation that Democrats on the House Oversight Committee began releasing Wednesday.

The first two reports in the investigation focus on Celgene and Bristol Myers Squibb’s Revlimid cancer treatment, the price of which has been raised 23 times since 2005, and Teva’s multiple sclerosis drug Copaxone, which has risen in price 27 times since 2007.

The costs have little to do with research and development or industry efforts to help people afford medication, as drug companies often claim, according to the inquiry.

“It’s true many of these pharmaceutical industries have come up with lifesaving and pain-relieving medications, but they’re killing us with the prices they charge,” Rep. Peter Welch, D-Vt., said as the hearings began Wednesday. He added, “Uninhibited pricing power has transformed America’s pain into pharma’s profit.”

The top Republican on the committee, James Comer of Kentucky, called the investigation a partisan attack. “These hearings seem designed simply to vilify and publicly shame pharmaceutical company executives,” Comer said.

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Much of the drug industry’s profits come at the expense of taxpayers and the Medicare program, say the reports, which say that they are used to pay generous executive bonuses and that they are guarded by aggressive lobbying and efforts to block competition, regulation or systemic change in the United States while the rest of the world pays less.

“The drug companies are bringing in tens of billions of dollars in revenues, making astronomical profits, and rewarding their executives with lavish compensation packages — all without any apparent limit on what they can charge,” committee chair Carolyn Maloney, D-N.Y., wrote in a letter attached to the first two staff reports.

Rep. Elijah Cummings,

High drug prices driven by profits, House panel report finds

Enormous drug company profits are the primary driver of soaring prescription drug prices in America, according to a damning investigation that Democrats on the House Oversight Committee began releasing Wednesday.



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The first two reports in the investigation focus on Celgene and Bristol Myers Squibb’s Revlimid cancer treatment, which saw its price hiked 23 times since 2005, and Teva’s multiple sclerosis drug Copaxone, which went up in price 27 times since 2007.

Those costs have little to do with research and development or industry efforts to help people afford medication, as drug companies often claim, according to the probe.

“It’s true, many of these pharmaceutical industries have come up with lifesaving and pain-relieving medications, but they’re killing us with the prices they charge,” said Rep. Peter Welch (D-Vt.) as the hearings began Wednesday. He added that “uninhibited pricing power has transformed America’s pain into pharma’s profit.”

The top Republican on the committee, Rep. James Comer of Kentucky, called the investigation a partisan attack. “These hearings seem designed simply to vilify and publicly shame pharmaceutical company executives,” Comer said.

Much of the drug industry’s profits come at the expense of taxpayers and the Medicare program, are used to pay generous executive bonuses and are guarded by aggressive lobbying and efforts to block competition, regulation or systemic change in the United States while the rest of the world pays less, the reports say.

“The drug companies are bringing in tens of billions of dollars in revenues, making astronomical profits, and rewarding their executives with lavish compensation packages — all without any apparent limit on what they can charge,” committee chair Rep. Carolyn Maloney (D-N.Y.) wrote in a letter attached to the first two staff reports.

Rep. Elijah Cummings (D-Md.), the former committee chairperson who died last October,

House panel says drugmakers inflated prices to boost profits and reap bonuses

The Democrat-led reports come just weeks before Election Day, and amid efforts by President Donald Trump to show progress on slashing drug costs, one of his 2016 campaign promises.

Neither company immediately responded to requests for comment.

Highlights: Celgene raised the price of cancer medicine Revlimid 22 times since it launched in 2005, more than tripling its price. Those hikes were not necessarily linked with rising costs or innovation: In 2014, for instance, former CEO Mark Alles ordered an emergency price increase so Celgene could meet its quarterly revenue targets.

“I have to consider every legitimate opportunity available to us to improve our Q1 performance,” Alles wrote in an email. He appears before the committee Wednesday along with Bristol CEO Giovanni Caforio.

Bristol continued with another increase after buying Celgene last year. Revlimid now costs more than $16,000 a month.

The panel’s report also details tactics that Teva Pharmaceuticals used to ward off competition, such as introducing new formulations of multiple sclerosis medicine Copaxone and contracting with payers to limit generic substitutions for the blockbuster medicine.

Teva has raised Copaxone’s price 27 times since its launch in 1997, inflating its cost from $10,000 then to nearly $70,000 today. Bonuses for Teva workers soared as well — the committee reports that “lower level employees were aware of the direct link between their compensation and Copaxone’s price and revenue.”

Teva CEO Kåre Schultz testifies for the pharmaceutical company on Sept. 30.

The panel said that other costs, such as rebates that drugmakers pay to pharmacy benefit managers, do not account for the consistently rising drug prices. Manufacturers typically point to these rebates — used to ensure products’ places on insurer formularies — to justify price hikes because a chunk of the cost goes to those payer discounts.

Heart of the pricing debate: