WASHINGTON/NEW YORK (Reuters)—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. Executives from Abbvie Inc., AstraZeneca PLC., Sanofi SA, Pfizer…
U.S. Senate Finance Committee Invites Pharma Execs to Testify
WASHINGTON (Reuters)—A powerful U.S. Senate committee on has invited seven pharmaceutical companies to testify at a hearing later this month examining rising prescription drug prices. Sen. Chuck Grassley (R-IA), chairman of the Senate Finance Committee, and Sen. Ron Wyden (D-Ore.), ranking member of the committee, invited executives from AbbVie Inc., AstraZeneca PLC, Bristol-Myers Squibb Co.,…
Drug Industry Group Sues to Stop California Drug Price Law
(Reuters)—The trade group representing U.S. drugmakers on Friday said it has a filed a lawsuit to stop California from implementing a law aimed at reining in prescription drug prices. The Pharmaceutical Research and Manufacturers of America (PhRMA), in a statement, said it filed litigation in the U.S. District Court for the Eastern District of California…
Drug Industry on Tenterhooks as Maryland Price-Gouging Law Nears
(Reuters)—As U.S. consumer outrage grows over prescription drug prices, state authorities and patient advocates in Maryland are preparing to enforce the nation’s first law designed to punish drugmaker price-gouging. The Maryland Attorney General’s office said it will field complaints and investigate “unconscionable increases” in essential generic medicines when the closely watched law takes effect Oct….
U.S. FDA Moves to Prevent Pharma from “Gaming” Generic Drug System
WASHINGTON (Reuters)—The U.S. Food and Drug Administration moved on Wednesday to prevent pharmaceutical companies from “gaming” the system to block or delay entry of generic rivals. FDA Commissioner Scott Gottlieb said in a blog post that the agency plans to hold a public meeting on July 18 to identify ways pharmaceutical companies are using FDA…