House Democrats launch drug-pricing probe into a dozen major health-care companies

The House Oversight Committee is investigating the actions of a dozen pharmaceutical companies in raising prescription drug prices in the U.S., the panel announced Monday.

Chairman Elijah Cummings, D-Md., sent letters to AbbVie, Amgen, AstraZeneca, Celgene, Eli Lilly, Johnson & Johnson, Mallinckrodt, Novartis, Novo Nordisk, Pfizer, Sanofi and Teva Pharmaceuticals seeking detailed information and documents about the companies’ pricing practices.

AbbVie and Sanofi received information requests regarding three of their drugs, the panel said. Amgen, Pfizer and Novo Nordisk received requests about two drugs. AstraZeneca, Celgene, Eli Lilly, Johnson & Johnson, Novartis, Mallinckrodt and Teva were each asked about one drug.

“For years, drug companies have been aggressively increasing prices on existing drugs and setting higher launch prices for new drugs while recording windfall profits,” Cummings said in a statement. “The goals of this investigation are to determine why drug companies are increasing prices so dramatically, how drug companies are using the proceeds, and what steps can be taken to reduce prescription drug prices.”

https://www.cnbc.com/2019/01/14/house-democrats-launch-drug-pricing-probe-on-a-dozen-companies.html


Cummings hit the ground running with his committee!