A new super PAC, Patients for Affordable Drugs Action, is spending an estimated $1.5 million on a TV ad slamming Republican U.S. Senate candidate Bob Hugin for earning more than $100 million as head of a pharmaceutical company that raised drug prices for cancer patients.
The super PAC, which is affiliated with Patients for Affordable Drugs, alleges that as CEO of Celgene, Hugin doubled the price of Revlimid, a cancer treatment drug.
In the ad, cancer patient Pam Holt says the Revlimid keeps her alive and that Celgene charges over $600 for a drug that costs them less than $1 to make.
Now he wants to be your Senator,” Holt says. “But I’ll always know him as the guy who made a killing – off cancer patients like me.”
Hugin has loaned over $15 million to his Senate campaign.
The bi-partisan PAC is associated with Patients for Affordable Drugs, which advocates lower drug prices. It is funded by Action Now Initiative, a group founded by billionaire hedge fund manager John Arnold.
David Mitchell, a retired public affairs executive who took Revlimid for five years while fighting multiple myeloma, an incurable blood cancer that requires $250,000 a year worth of drugs.
“Innovation and new drugs that save peoples lives shouldn’t come at a price that bankrupts people or ruins their lives at a time when they’re struggling to maintain their health,” Mitchell said on a video that appears on the group’s website.
News of the super PAC ad was first reported by NJ.com.