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Pharma CEO squirms as Katie Porter exposes his price-gouging scheme with her trusty whiteboard

Pharma CEO squirms as Katie Porter exposes his price-gouging scheme with her trusty whiteboard

via Katie Porter

Americans spend about $1,200 a year on average for prescription drugs. That's more than anywhere else in the world. Private insurers and government programs pick up the bulk of the costs which we then pay through higher taxes and insurance premiums.

A major reason why Americans pay so much more than other countries is that the U.S government isn't allowed to negotiate drug prices with pharmaceutical companies.

To better understand the underlying reasons for these astronomical prices, the U.S. House of Representatives Oversight and Reform Committee held hearings on Wednesday with current and former executives of three major drug companies.

Democratic Representative Katie Porter from Orange County, California proved to be the star of the hearing for how she clearly explained how price gouging works using a whiteboard and the testimony of former Celgene CEO Mark Alles.

Celgene launched a cancer drug called Revlimid in 2005 at a price of $215 per pill. After more than 20 price hikes, the drug now costs $763 per pill or $16,023 per month. According to Porter, the price increases have cost American taxpayers over $3 billion.

While drug companies commonly cite research and development costs as a reason for raising prices. An investigation found that the CEO repeatedly raised the price to help the company meet revenue goals.

The investigation also found the company was profiting from a drug that was developed using taxpayer funds. According to the investigation the company "relied heavily on taxpayer-funded academic research to develop Revlimid, and its internal pricing decisions appear to have been unrelated to past or future investment in research and development."

Rep. Porter grills Big Pharma CEO for price gougingwww.youtube.com

Porter opened her questioning by remarking how Revlimid price increases seem to counter traditional economic logic.

"I'm curious, did the drug get substantially more effective in that time? Did cancer patients need fewer pills?" she asked. "How did you change the formula for the production of Revlimid to justify this price increase?"

Alles responded with a non-answer: "The indication changes are for subsets of different patients with disease."

She then pushed him again, asking how the drug improved over the past seven years.

He admitted that the manufacturing for the pill was "the same."

Porter then brilliantly related the price increase to the financial situation of her constituents. "So, to put that in perspective, you hiked the price by $500 when the average Orange County senior only has $528 left in their bank account after they've paid their basic monthly expenses," Porter said.

While the CEO claimed that no one pays the list price, she asked about uninsured people. He said he could "imagine" that there were uninsured or underinsured people who have probably paid the list price.

via Katie Porter

Porter finished her presentation by tying the price increases to Alles' paycheck. As CEO, Alles made $13 million a year, 360 times the average person on social security.

"Any increase in the price of Revlimid would also increase your bonus by increasing earnings. Isn't that right Mr. Alles? she asked. "That was a part of the calculation of my compensation." the CEO agreed.

Porter then showed how the CEO has made $500,000 over the past two years in bonuses by raising the price of the cancer drug.

"So to recap here: The drug didn't get any better. The cancer patients didn't get any better. You just got better at making money. You just refined your skills at price gouging!" she stated.

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KFC tackles food insecurity this holiday season with its Sharemobile food truck

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The last thing children should have to worry about is where their next meal will come from. But the unfortunate reality is food insecurity is all too common in this country.

In an effort to help combat this pressing issue, KFC is teaming up with Blessings in a Backpack to provide nearly 70,000 meals to families in need and spread holiday cheer along the way.

The KFC Sharemobile, a holiday-edition charitable food truck, will be making stops at schools in Chicago, Orlando, and Houston in December to share KFC family meals and special gifts for a few select families to address specific needs identified by their respective schools.

These cities were chosen based on the high level of food insecurity present in their communities and hardships they’ve faced, such as a devastating hurricane season in Florida and an unprecedented winter storm in Houston. In 2021, five million children across the US lived in food-insecure households, according to the USDA.

“Sharing a meal with family or friends is a special part of the holidays,” said Nick Chavez, CMO of KFC U.S. “Alongside our franchisees, we wanted to make that possible for even more families this holiday season.”

KFC will also be making a donation to Blessings in a Backpack, a nonprofit that works to provide weekend meals to school-aged children across America who might otherwise go hungry.

“The generous donations from KFC could not have come at a better time, as these communities have been particularly hard-hit this year with rising food costs, inflation and various natural disasters,” Erin Kerr, the CEO of Blessings in a Backpack, told Upworthy. “Because of KFC’s support, we’re able to spread holiday cheer by donating meals for hunger-free weekends and meet each community’s needs,” Kerr said.

This isn’t the first time KFC has worked with Blessings in a Backpack. The fried chicken chain has partnered with the nonprofit for the last six years, donating nearly $1 million dollars. KFC employees also volunteer weekly to package and provide meals to students in Louisville, Kentucky who need food over the weekend.

KFC franchisees are also bringing the Sharemobile concept to life in markets across the country through local food donations and other holiday giveback moments. Ampex Brands, a KFC franchisee based in Dallas, recently held its annual Day of Giving event and donated 11,000 meals to school children in economically disadvantaged neighborhoods.

If you’d like to get involved, you can make a donation to help feed students in need at kfc.com/kfcsharemobile. Every bit helps, but a donation of $150 helps feed a student on the weekends for an entire 38-week school year, and a donation as low as $4 will feed a child for a whole weekend.

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Trevor Noah ended his final 'Daily Show' episode with a tearful tribute to Black women

"Who do you think has shaped me, nourished me, informed me?"

@TheDailyShow/Twitter

Trevor Noah says goodbye in his last episode of "The Daily Show."

Trevor Noah, who has spent the past seven years hosting "The Daily Show," has officially said goodbye to his late-night fans. While he could have chosen any note to leave on, he made his final words an emotional tribute to the Black women who have influenced him.

Since he took over the spot from Jon Stewart, Noah has made the show his own with a blend of quick-witted comedy and thoughtful commentary. Noah had big shoes to fill, but to his credit, he didn't try to cram his feet into them. He simply brought his own shoes and placed them right next to Stewart's, offering his own style of comedy and unique perspectives on the world night after night. Even in his "Between the Scenes" segments, where he chatted with the audience during commercial breaks, Noah frequently added insightful context to current issues.

In his final monologue, he credits those insights to his Black women mentors, from his own mother and grandmother to thought leaders he has had on his show to Black women in general. And it's quite telling that he managed to keep it together in his final show, right up until the point when he talked about these women.

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Jack Black's Tenacious D rocked out with an impressive version of the Beatles’ ‘Abbey Road’ medley

Jack Black is an incredibly talented singer.

via Wikimedia Commons

Tenacious D performs at the Rock in Pott festival.

The medley that closes out the second side of the Beatles’ “Abbey Road” album is one of the most impressive displays of musicianship in the band’s storied career. It also provided the perfect send-off before the band’s official breakup months later, ending with the lyrics, “And in the end, the love you take is equal to the love you make.”

In 1969, “Abbey Road” was the last record the group made together, although “Let it Be,” recorded earlier that year, was released in 1970.

At first, the medley was just a clever way for the band to use a handful of half-finished tunes, but when it came together it was a rousing, grandiose affair.

Arranged by Paul McCartney and producer George Martin, the medley weaves together five songs written by McCartney, "You Never Give Me Your Money," "She Came in Through the Bathroom Window," "Golden Slumbers," "Carry That Weight” and "The End," and three by John Lennon, “Sun King," "Mean Mr. Mustard" and "Polythene Pam."

Fifteen seconds after the medley and the album’s conclusion, there is a surprise treat, McCartney’s 22-second “Her Majesty,” which wound up on the record as an accident.

Jack Black and Kyle Gass, collectively known as Tenacious D, recently reimagined two of the songs in the medley, "You Never Give Me Your Money" and "The End," for acoustic guitars for a performance on SiriusXM's Octane Channel. Like everything with Tenacious D, it showed off the duo’s impressive musical chops as well as their fantastic sense of humor.

The truncated version of the medley was also a wonderful tribute to the incredible work the Beatles did 53 years ago.

Warning: This video contains NSFW language.

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Hollywood icons Brendan Fraser and Adam Sandler sat down for an epic chat with each other

Best. Interview. Ever.

Variety/YouTube

Adam Sandler and Brendan Fraser for Variety's "Actors on Actors."

There are few actors in this world as universally loved as Brendan Fraser and Adam Sandler. So when the two sign on to interview one another, you can bet that people are going to be thrilled.

During one of Variety's “Actors on Actors” segments, the two swapped stories of being in the entertainment business—from the movie “Airheads," which they both starred in, to more recent projects like Sandler’s “Hustle” and Fraser’s “The Whale.”

It’s clear that these two respect and admire each other’s work. Sandler applauded Fraser’s career-long stride of making bold and interesting choices, and especially commended him for his starring role in Darren Aronofsky’s “The Whale,” which has been hailed as a major comeback for the “Mummy” franchise star.

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