WASHINGTON — The House Oversight Committee on Monday announced an investigation into 12 pharmaceutical companies and their drug-pricing methods, billing it as one of the broadest inquiries in decades into how drug manufacturers set prices.
It is the fulfillment of a pledge from Rep. Elijah Cummings (D-Md.), the committee chairman, who has said he will make high prescription drug costs a top priority in his oversight agenda. One of the committee’s first hearings, set for Jan. 29, will focus on the same topic.
“For years, drug companies have been aggressively increasing prices on existing drugs and setting higher launch prices for new drugs while recording windfall profits,” Cummings said in a statement. “The goals of this investigation are to determine why drug companies are increasing prices so dramatically, how drug companies are using the proceeds, and what steps can be taken to reduce prescription drug prices.”
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Januvia 100mg. tablet once daily for type II diabetes should have been off patent by now and has an extension until 2022. $442.00 for 30 tabs . Seniors with part D medicare now have a $400. deductible. So? Drug companies get that every year up front $442.00 and then a negotiated price of $94/month through Humana. It is the lobbyists of Pharms that tell congress how to save in medicare Part D but are actually ripping off the consumer and keep their patent extensions worked out with congressional committees and FDA kickbacks. Too our congressman don’t have these same “SAVINGS”. Most people who read this won’t get it. Just saying.
It’s about time to get aggressive on high cost of Humalog Insulin that I use to survive dealing with Type 1 diabetes 24 hours a day for past 44 years.
Lev, This investigation will be useless to the consumer unless they fully investigate the PBM’s. Does this Oversight Committee not know what occured
in Ohio,Kentucky,West Virginia,Arkansas,Louisiana and who knows how many other states by the PBM’s ? Maybe someone should tell them !