Rising Drug Costs to Be in Focus at Congressional Hearing

December 5, 2015

The Wall Street Journal (Rockoff, 12/5) reported that the Senate Special Committee on Aging is scheduled to hold a hearing on the “new route that some drug companies have used to quickly boost sales, without a costly investment in research: Scoop up the rights to drugs already on the market and then drastically raise their prices.” The hearing will explore the impact these price hikes have on patients' access, as well “how current regulations and public policy may contribute to this problem.” Senator Claire McCaskill (D-MO), the committee’s ranking member, said, “There’s a line at which these huge price increases for prescription drugs go from rewarding innovation to price gouging and this hearing will set the stage for an examination of whether that line is being crossed.”