February 4, 2016—Former Turing Pharmaceuticals chief executive Martin Shkreli today invoked his Fifth Amendment right against self-incrimination in declining to answer a House committee's questions about Turing's 5,000 percent price increase for a potentially life-saving off-patent medicine lacking competition. … [Read more...]
House Panel Lifts Lid on Drug Company Price Gouging
Ranking Democrat says practices are endemic throughout industryFebruary 2, 2016—Two drug companies under congressional investigation for price gouging used tactics that "are not limited to a few ‘bad apples,’ but are prominent throughout the industry,” the ranking Democrat on the House Oversight committee said today upon releasing summaries of more than 300,000 pages of documents from the companies in advance of a Feb. 4 hearing. … [Read more...]
Presidential Candidates Bemoaning Rising Rx Drug Costs
High cost of medicine is voters' top healthcare concernFebruary 1, 2016—The 2016 presidential campaign shifts into high gear tonight, as Iowa voters meet in precinct caucuses to pick delegates for the Republican and Democratic national conventions. … [Read more...]
Senators Want Public Input on Expensive Breakthrough Drugs
Wyden and Grassley follow up report on Sovaldi with call for commentsJanuary 28, 2016—The Senate Finance Committee's senior Democrat and a senior Republican member want to hear from the healthcare and patient communities about the negative financial and health impacts of highly expensive breakthrough drugs such as Gilead Sciences' Sovaldi and Harvoni hepatitis C treatments. … [Read more...]
HRSA Postpones 340B Recertification for Most Federal Grantees
Procedure had been scheduled to begin todayJanuary 27, 2016—The Health Resources and Services Administration has postponed annual recertification of eligibility for most federal grantees in the 340B drug discount program, which had been scheduled to begin today. … [Read more...]
CMS Releases Long-Awaited Medicaid Drug Rebate Program Final Rule
So-called "AMP rule" has implications for 340B programJanuary 22, 2016—The Centers for Medicare & Medicaid Services has released a long-awaited final rule to implement the Affordable Care Act's Medicaid drug rebate provisions. … [Read more...]
Senate and House Committees Subpoena Pharma Executive Shkreli
Former Turing CEO reportedly invokes Fifth Amendment in response to Senate summonsJanuary 21, 2016—The House Oversight and Government Reform Committee has subpoenaed former Turing Pharmaceuticals chief executive Martin Shkreli to testify at a Jan. 26 hearing. Shkreli, meanwhile, has invoked the Fifth Amendment in response to a separate Dec. 24 subpoena to produce documents issued by the Senate Select Committee on Aging. … [Read more...]