The ‘Dark And Elaborate Art’ Of Preparing To Be Grilled By Congress: Pharma Practices, Lawyers Up Before Big Reckoning On Hill
The Senate Finance Committee has called Big Pharma to Capitol Hill this week to answer questions on high drug prices. Experts are calling the grilling a reckoning similar to what Big Tobacco and Big Banks faced in years passed. But the pharmaceutical execs have no interest in being turned into a soundbite, so they've lawyered up and hired communications consultants to prep. They're expected to shift the blame and tout the life-saving properties of their drugs.
Politico:
‘It’s Finally Pharma’s Turn’: Drug CEOs Face Capitol Hill Reckoning
Pharma executives are facing a Capitol Hill grilling on high drug prices Tuesday — bringing them into the same politically treacherous ground as tobacco and tech leaders before them. The Senate Finance Committee hearing is an ominous signal for the drug industry that major legislative reform is on the horizon. It’s reminiscent of previous hearings with businesses that proved to be turning points, leading to massive reforms of Wall Street banks, the health insurance industry and tobacco companies. (Karlin-Smith, 2/25)
Stat:
How Pharma Executives Are Preparing For Tuesday's Congressional Grilling
To avoid the fate of so many executives before them, the pharmaceutical companies are shelling out for lawyers and strategic communications experts who specialize in teaching unpopular corporate figures how to survive a Capitol Hill grilling. STAT spoke with more than a dozen corporate lobbyists, lawyers, and public relations consultants who laid out the extensive preparations that go into avoiding a cable-news catastrophe. Their advice’s central themes: appear contrite and willing to work with lawmakers. Remain humble, even with senators who attack your compensation or lifestyle. And even in the face of aggressive questioning, never — never! — push back with force. (Facher and Florko, 2/25)
Bloomberg:
Drug CEOs Expected To Deflect Blame On Costs At Senate Hearing
Pharmaceutical executives looking to blame drug-plan middlemen for rising prescription costs at a Senate committee hearing next week will be greeted skeptically by lawmakers, said people familiar with the panel’s preparations. Senior officials from seven pharmaceutical giants are scheduled to appear before the Senate Finance Committee on Tuesday to discuss soaring drug prices, which have become a lightning rod in Washington. Drug companies have long pinned climbing prescription costs on rebates that pharmacy-benefit managers negotiate when agreeing to cover certain medicines. (Griffin, 2/22)
Bloomberg:
How Pharma Lost Its Edge In Washington
For decades drug manufacturers in the U.S. have been able to set prices virtually at will. They introduce new pharmaceuticals with five- or even six-figure price tags, while they raise the prices of existing drugs as much as 10 percent a year. Unlike their counterparts in the airline or auto industries, most leaders of these companies have never appeared before Congress. Until now. The heads of pharma giants Merck, Pfizer, and Sanofi, among others, will face members of the Senate Finance Committee on Feb. 26, the opening move in what promises to be a long chess match between the prescription drug industry and Congress over how to rein in prices. (Koons and Edney, 2/25)
Kaiser Health News:
Talk About DeJà Vu: Senators Set To Re-Enact Drug Price Hearing Of 60 Years Ago
Kenneth Frazier, CEO of pharma giant Merck, is set to face senators Tuesday who say drug costs are “sky-high” and “out of control.” But Frazier doesn’t need new talking points. Sixty years ago, a different panel of senators grilled a different Merck boss about the same problem. To a striking degree, the subjects likely to surface Tuesday — high drug prices and profits, limited price transparency, aggressive marketing, alleged patent abuse and mediocre, “me-too” drugs — are identical to the issues senators investigated decades ago, historical transcripts show. (Hancock, 2/22)
Kaiser Health News:
Video: High Drama No Stranger At Congressional Health Care Hearings
This week the CEOs of major pharmaceutical firms will come to Capitol Hill to defend their products’ prices. The hearing before the Senate Finance Committee is expected to produce rhetorical fireworks, particularly given the national furor over rising drug prices. This video features five dramatic moments from past congressional showdowns over health care. (Rovner and Carey, 2/25)
