Select Page

Wyden: Big Pharma Refuses To Commit To Lower Prices, Action By Congress Needed

Wyden: Big Pharma Refuses To Commit To Lower Prices, Action By Congress Needed

In Written Responses from Seven Pharma Executives, Companies Do Not Endorse Legislation That Would Lower Prices

Senator Ron Wyden

Washington, D.C. – Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today decried drug makers’ refusal to commit to lowering drug prices if middlemen rebate practices were changed.

“In case there was any doubt, Big Pharma is not about to start self-policing their pricing practices,” Wyden said. “In order to prevent a cash grab that gives drug makers a windfall and leaves consumers stuck with high prices, Congress must take significant action to end business as usual in the broken drug pricing system.” 

In written responses following the committee’s February hearing with seven executives from some of the largest pharmaceutical companies in the world, the companies would not pledge to support legislation that brought prices down in the event pharmacy benefit manager rebates were reformed and significantly curtailed.

Wyden’s written questions also asked the companies to disclose information about their profitability in other nations where drug prices are significant lower, and for information about executive compensation. In the hearing, Wyden asked AbbVie CEO Richard Gonzalez to justify why his bonuses were tied to higher prices – a clear incentive for the company to continue raising prices on their popular drugs.

The written responses to Wyden’s question can be found here.

Views All Time
Views All Time
225
Views Today
Views Today
1

Save pagePDF pageEmail pagePrint page

Subscribe to Wallowa Valley Online

Sign up and receive Wallowa County News, A&E, Sports & Recreation, and much more directly to your inbox.

Invalid email address
We promise not to spam you. You can unsubscribe at any time.

About the author

+ posts

Comments

comments

About The Author

WVO

Bobby Levy for State Representative

Wallowa Mountain Properties

SUBSCRIBE – Always FREE!!!

Receive updates directly to your inbox - Always FREE!!!
Subscribe to Wallowa Valley Online 
We promise not to spam you. Unsubscribe at any time.
Invalid email address

Feel the Thunder! Always the last week in July

Highview Angus Ranch

Bulls For Sale

Good selection of all A.I. sired Registered Angus bulls. Semen tested, complete & competitive EPD’s. Genomically tested for greater accuracy & verified pedigrees. Yearlings & 2 year olds. 1200-1700 lbs. Call Jeff at 541-426-5989

Wallowa County Hay Growers
 

Purchase your favorite Reprints!

Archives