Drug Pricing: Drug Pricing Hearings and Investigation Mount
Since January, members in Congress have initiated at least three sets of hearings and four investigations into drug prices, surprise billing, and individual companies. The House Ways and Means Committee will hold their first hearing on the subject today, following introductory hearings in House Oversight and Senate Finance. Other groups and individual senators have also sent letters to several companies requesting information and explanations for rising drug prices and surprise medical bills. The requested response dates for those letters are approaching. While companies are not required to respond, inaction may cause further pressure in Congress. Notably, after drug manufacturers declined to testify at the first Senate Finance hearing, Senators Grassley (R-IA) and Wyden (D-OR) threatened to compel testimony. In this report we outline the ongoing investigations and the companies being targeted. For more information on congressional and administrative drug pricing outlooks, please see our January 28 and January 15 reports.