WASHINGTON/NEW YORK: Seven drug company executives will testify about rising prescription drug prices before a powerful U.S. Senate Committee on Tuesday, marking a sharp escalation in lawmakers' promises to address high medicine costs.
U.S. President Donald Trump has said drugmakers are"getting away with murder," and his administration has made bringing down prescription medicine prices a top priority. The U.S. Department of Health and Human Services last year rolled out a plan to lower drug prices and has introduced several modest proposals to curb medicine costs, but Democrats have said Trump and his administration are not doing enough.
Pharmaceutical companies have blamed high research and development costs for their prices and after-market discounts called rebates that they must provide to pharmacy benefits managers in order to gain patient access to their products by having them included on preferred coverage lists. HHS has proposed a rule to eliminate rebates in Medicare and Medicaid, the government health insurance programs.
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