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Related: About this forumPharmaceuticals Executives Face Harsh Words During Senate Hearing on Drug Prices
Source: ABC News
Pharmaceuticals Executives Face Harsh Words During Senate Hearing on Drug Prices
By GILLIAN MOHNEY
Apr 27, 2016, 3:47 PM ET
The CEO of a pharmaceutical company testified today that officials there were "too aggressive" in raising the price of medications as company officials faced harsh words during a senate hearing today.
J. Michael Pearson of Valeant Pharmaceuticals testified today in front of the U.S. Senate Special Committee on Aging in Washington, D.C. on the significant price increase in multiple drugs at the company.
The company has come under fire for significantly raising prices on at least four drugs for cardiac arrest and a rare genetic disease that they recently acquired. Health care officials and one patient also spoke at the hearing about the burdens these price increases have had on patients and hospitals.
The senators leading the committee had harsh words for Pearson along with Valeant board member William Ackman and former Chief Financial Officer Howard Schiller.
Senator Susan Collins, the chairman of the committee, called the price hikes unwarranted.
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By GILLIAN MOHNEY
Apr 27, 2016, 3:47 PM ET
The CEO of a pharmaceutical company testified today that officials there were "too aggressive" in raising the price of medications as company officials faced harsh words during a senate hearing today.
J. Michael Pearson of Valeant Pharmaceuticals testified today in front of the U.S. Senate Special Committee on Aging in Washington, D.C. on the significant price increase in multiple drugs at the company.
The company has come under fire for significantly raising prices on at least four drugs for cardiac arrest and a rare genetic disease that they recently acquired. Health care officials and one patient also spoke at the hearing about the burdens these price increases have had on patients and hospitals.
The senators leading the committee had harsh words for Pearson along with Valeant board member William Ackman and former Chief Financial Officer Howard Schiller.
Senator Susan Collins, the chairman of the committee, called the price hikes unwarranted.
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Read more: http://abcnews.go.com/Health/ceo-valeant-pharmaceuticals-calls-large-price-increases-mistake/story?id=38704220
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Pharmaceuticals Executives Face Harsh Words During Senate Hearing on Drug Prices (Original Post)
Eugene
Apr 2016
OP
dixiegrrrrl
(60,010 posts)1. Valeant stock is heading for the crapper, I am happy to read. n/t
Response to Eugene (Original post)
cyberpj This message was self-deleted by its author.
choie
(4,111 posts)3. Oooh -"unwarranted"
Them's fighting words!! I wonder how much money Susan Collins received from the pharmaceutical industry.
We all know this is a dog and pony show, right? These hearings are just a way to appease us - to make us think that theg (the congress) is actually serious about doing something about these parasites.
Response to choie (Reply #3)
cyberpj This message was self-deleted by its author.