The report comes as Democrat leadership ramps up pressure on the Senate to pass the party’s sweeping social spending bill.
“This so-called investigation has ignored the real affordability problems people face, like rising deductibles and other out-of-pocket costs,” said a PhRMA representative. (Photo: Shutterstock) House Democrats accuse drug manufacturers of unfairly raising prices and gaming the system to delay generic competition in a way that is “unsustainable, unjustified and unfair to patients and taxpayers.”
The party on Friday issued a report that culminated a three-year investigation of 10 companies that sell 12 of the most expensive drugs, including insulin, to Medicare. The report found that those companies collectively raised prices more than 250 times. The drugs in the committee’s investigation now have a median price almost 500% higher than when they were brought to market.
Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.
Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In Now
Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.