35482508871_5eabae9691_z

US Lawmaker launches investigation into pharma pricing practices

pharmafile | January 15, 2019 | News story | Manufacturing and Production |  Bernie Sanders, Elijah cummings, congress, pharma, pricing, us politics 

Congressman Elijah Cummings has launched an investigation into pharmaceutical pricing practices.

The representative for Maryland’s 7th congressional district, on Monday requested information on price increases, investment in research and development, and corporate strategies to preserve market share and pricing power from 12 multinational pharmaceutical firms.

The 12 firms include: 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.

Advertisement

The investigation comes less than a week after the Democrat representative introduced legislation aimed at lowering the price of medicines.

If passed, the three bills would allow Americans to import drugs from Canada, allow the HHS secretary to negotiate prices for the Medicare Part D programme and peg US prescription drug prices to the median price from five countries – Canada, Britain, France, Germany and Japan.

While Trump has made price hiking pharma firms the target of his policies since his campaign in 2016, Democrats have said the Trump administration are not doing enough to tackle high drug prices.

Louis Goss

Related Content

Pharma sees climate disruption as growing supply-chain risk

Nine in ten pharmaceutical companies across the UK and G7 countries expect climate-related disruption to …

AI in pharma: From lab development to patient impact

In the decade to 2025, AI use in vaccine development has increased markedly but is …

LGC Group opens $100M Organic Chemistry Synthesis Centre of Excellence

LGC Group, a life sciences company, has opened its new Organic Chemistry Synthesis Centre of …

The Gateway to Local Adoption Series

Latest content