Senate Panel Slams Drug Companies For Skyrocketing Prices
In the first of a series of hearings to examine the cost increases for prescription drugs that are no longer protected by patents, the Senate Special Committee on Aging blasts four pharmaceutical companies for their price spikes.
Senate Questions 'Egregious' Price Hikes For Specialty Medicines
The Senate Special Committee on Aging is holding the first of a series of hearings Wednesday into why the prices of medicines that have been on the market for decades are suddenly climbing. The investigation by the Senate committee, led by Maine Republican Susan Collins and Missouri Democrat Claire McCaskill, is focusing on four pharmaceutical companies that bought the rights to certain drugs, and then dramatically increased the prices. (Kodjak, 12/9)
The Associated Press:
Senate Panel Leaders Condemn Companies For Drug Price Hikes
The leaders of a Senate panel are condemning four companies for aggressively increasing prices for prescription drugs. They say the companies have exploited a system lacking in competition to hike prices for critically needed medicines. An investigation by the Senate Special Committee on Aging focuses on Turing Pharmaceuticals, Valeant Pharmaceuticals, Retrophin Inc. and Rodelis Therapeutics. The first two faced especially harsh criticism. (12/9)