The year started off with a Big Pharma bang as 60 companies raised prices on nearly 300 drugs, despite public and political pressure. No one should be surprised since there is nothing in place to stop these companies and a long history of inaction through many failed attempts.
On January 29th, the House Oversight and Reform Committee will be holding a hearing on drug prices led by Chairman Elijah Cummings (D-Md.) and we will be watching and supporting efforts to expose Big Pharma and their dubious pricing practices.
The hearing is part of a major investigation into how pharmaceuticals are priced and Rep. Cummings is describing it as ‘one of the broadest drug pricing investigations in decades.’
As part of the investigation, Rep. Cummings sent letters to a dozen different companies seeking detailed information about how these companies price their medications.
The House Oversight and Reform Committee is launching a sweeping investigation into the prescription drug industry’s pricing practices, a major priority of new Chairman Elijah Cummings (D-Md.).
As we have seen in the past, Big Pharma is not enthusiastic about sharing any information on their pricing practices and we don’t expect this time around will be any different.
Yet, there is hope based on the increased scrutiny and attention that is being given to the issue. For the sake of all Americans who struggle with high drug prices.
Stay tuned for more details!