House Dems announce sweeping investigation of drug pricing

Source: Associated Press

By RICARDO ALONSO-ZALDIVAR
12 minutes ago

WASHINGTON (AP) — House Democrats announced a sweeping investigation Monday of the pharmaceutical industry’s pricing practices, jockeying for the upper hand with the Trump administration on an issue that concerns Americans across the political spectrum.

Oversight and Reform Committee Chairman Elijah Cummings said he’s sent letters to 12 major drugmakers seeking detailed information and documents about pricing practices for brand-name drugs to treat diseases including cancer, diabetes, kidney failure and nerve pain.

Cummings, a Maryland Democrat, said he wants to find out why prices have increased so dramatically for some existing medications, as well as how drug companies determine the prices of newly introduced medicines. The committee also is seeking information on what the manufacturers do with revenue and what steps can be taken to reduce prescription drug costs.

“Research and development efforts on groundbreaking medications have made immeasurable contributions to the health of Americans,” Cummings said. “But the ongoing escalation of prices by drug companies is unsustainable.” The committee, which has broad jurisdiction and subpoena power, is planning to hold hearings.

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