WASHINGTON/NEW YORK: U.S. Senators called drug pricing practices"morally repugnant" and told drug company executives they do not want to hear them blame others for the high prices, taking an aggressive stance at the start of a Senate hearing on the rising costs of prescription medicines.
Congress has already held several hearings on rising prescription drug prices in both the Democrat-controlled House of Representatives and the Republican-led Senate, but Tuesday's hearing is the first time drug company executives, most of them CEOs, will face lawmakers in more than two years. Pharmaceutical companies have blamed high research and development costs for their prices, as well as discounts, or rebates, they must provide to pharmacy benefits managers and insurers to ensure patient access to their medicines. HHS has proposed a rule to eliminate rebates in Medicare and Medicaid, the government health insurance programs.
Source: News Formal (newsformal.com)
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