Latest In

Breaking News

Dems Want GAO to Examine Skyrocketing Prescription Prices

On Monday, The New York Times ran a damning story detailing how the nation’s drug makers are hiking their prices ahead of the reform laws winding their way

Jul 31, 2020
216.1K Shares
3.2M Views
On Monday, The New York Times ran a damning storydetailing how the nation’s drug makers are hiking their prices ahead of the reform laws winding their way through Congress. The very next day, some powerful House Democrats called for a closer look, asking the Government Accountability Office to examine the drug industry to verify the Times’ report.
In a letter yesterdayto GAO, Reps. Henry Waxman (D-Calif.), Charlie Rangel (D-N.Y.), Pete Stark (D-Calif.) and John Lewis (D-Ga.) voiced concerns that the companies are “artificially raising prices for certain pharmaceutical products in expectation of new reforms that could otherwise reduce prescription drug prices or price growth by encouraging patients and the government to be more efficient purchasers.”
Any price gouging is unacceptable, but anticipatory price gouging is especially offensive. We request that the GAO prepare on an expedited basis a report that analyzes recent trends in prescription drug pricing. In addition, we request that you prepare a proposal to ensure ongoing monitoring of pharmaceutical manufacturer pricing practices, and periodically report to the Congress on your findings.
Not that the pharmaceutical industry is taking the Times’ report sitting down. In a statementreleased Monday, Ken Johnson, senior vice president of the Pharmaceutical Research and Manufacturers of America, said the price increases represent “the natural result of market forces.”
Paolo Reyna

Paolo Reyna

Reviewer
Paolo Reyna is a writer and storyteller with a wide range of interests. He graduated from New York University with a Bachelor of Arts in Journalism and Media Studies. Paolo enjoys writing about celebrity culture, gaming, visual arts, and events. He has a keen eye for trends in popular culture and an enthusiasm for exploring new ideas. Paolo's writing aims to inform and entertain while providing fresh perspectives on the topics that interest him most. In his free time, he loves to travel, watch films, read books, and socialize with friends.
Latest Articles
Popular Articles