Congress investigating rising generic drug prices
AHA News Now
Oct 6, 2014
Rep. Elijah Cummings (D-MD), ranking member of the House Committee on Oversight and Government Reform, and Sen. Bernard Sanders (I-VT), chairman of the Senate Subcommittee on Primary Health and Aging, last week asked 14 drug makers to provide information for an investigation into surging generic drug prices for patients and health care providers. In letters, they asked the companies to provide information from 2012 to the present on certain generic drugs, including prices paid for the drugs, total gross revenues from sales and factors contributing to the company’s decision to increase prices. “When you see how much the prices of these drugs have increased just over the past year, it’s staggering, and we want to know why,” said Cummings. The letters cite data from the Healthcare Supply Chain Association on recent purchases of 10 generic drugs by group purchasing organizations over the past two years, and a 2013 member survey by the National Community Pharmacists Association that found huge upswings in generic drug prices.