Congressional Democrats Push For Answers On Valeant’s Price Hikes
The Canadian drug maker increased the price of two heart drugs by 525 percent and 212 percent the day it acquired their rights, prompting U.S. lawmakers to seek answers on the hikes.
The Wall Street Journal:
Lawmakers Seek Answers On Valeant’s Price Increases
Democrats on the House oversight committee are trying to force Valeant Pharmaceuticals International Inc. to provide documents explaining hefty price increases for two heart drugs. (Rockoff, 9/28)
The Associated Press:
Congressional Democrats Push For Valeant Pharma Subpoena
Congressional Democrats are pressing a Republican committee chairman to force a pharmaceutical company to turn over documents tied to price hikes imposed earlier this year. Members of the House Committee on Oversight and Government Reform sent a letter Monday to Chairman Jason Chaffetz, R-Utah, asking him to issue a subpoena to Valeant Pharmaceuticals and to invite the Canadian company to testify next week. (9/28)
Reuters:
U.S. House Democrats Slam Valeant's Drug Price Hikes; Shares Sink
Democratic lawmakers on Monday attacked "massive" price increases of two heart drugs by Canada's Valeant, fueling a rout in drugmaker shares on worries of a government and insurer clampdown on U.S. drug prices. All 18 Democratic members of the House of Representatives Committee on Oversight and Government Reform urged their chairman to subpoena Valeant Pharmaceuticals International Inc and force it to provide documents relating to price increases of 212 percent for Isuprel and 525 percent for Nitropress. Valeant boosted the prices immediately after buying the heart drugs last February. (Pierson and Berkrot, 9/28)
