U.S. Lawmaker Launches Investigation Into Pharma Drug Pricing

www.oann.com | 4/27/2017 | Staff
darkkazune (Posted by) Level 3
WASHINGTON (Reuters) – A top U.S. lawmaker launched an investigation into pharmaceutical industry pricing practices on Monday, less than a week after he and fellow Democrats introduced legislation aimed at lowering medicine prices.

Representative Elijah Cummings, who chairs the House Oversight Committee, sent letters to 12 drugmakers seeking information on price increases, investment in research and development, and corporate strategies to preserve market share and pricing power, his office said in a statement.

AbbVie - Inc - Amgen - Inc - AstraZeneca

AbbVie Inc, Amgen Inc, AstraZeneca PLC, Celgene Corp, Eli Lilly and Co, Johnson & Johnson, Mallinckrodt PLC, Novartis AG, Novo Nordisk, Pfizer Inc, Sanofi and Teva Pharmaceutical all received letters seeking information about their pricing practices.

Novo Nordisk, Amgen, Celgene, and Novartis said they were reviewing the request. The other drug companies did not immediately respond to requests for comment.

Cummings - Letters - Drugs - Costliest - Medicare

Cummings’ letters focused on drugs that are the costliest to Medicare Part D, a program that helps beneficiaries of the federal health insurance program for the elderly and disabled pay for self-administered medicines like those purchased at drugstores, as well as drugs that have had the largest price increases over a five-year period.

They include AbbVie’s Humira, the world’s top-selling medicine that had a price increase at...
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