House Democratic leaders probe 3 major drugmakers on insulin prices

FAN Editor

Democratic leaders sent letters Wednesday to three major pharmaceutical companies asking for the “root causes” of rising insulin costs, the latest attempt by Democrats to tackle high health-care costs in the U.S.

Energy and Commerce Committee Chairman Frank Pallone, Jr, D-Nj, and Oversight and Investigations Subcommittee Chair Diana DeGette, D-Co, sent letters to Eli Lilly, Novo Nordisk and Sanofi on Wednesday requesting information on insulin prices and the obstacles to providing more affordable medication.

“When patients go without insulin — or ration their doses — there can be tragic consequences,” Pallone and DeGette wrote in their letters. “As one of the few manufacturers of insulin in the United States, your company is well-suited to shed light on these issues and offer potential solutions.”

Earlier this month, House Oversight Committee Chairman Elijah Cummings, D-Md., said he sent letters to 12 drugmakers seeking detailed information and documents about the companies’ pricing practices.

Democrats, who regained control of the House this month, listed lowering prescription drug costs as one of their top priorities. Spending on prescription drugs in the U.S. increased to $333.4 billion in 2017, according to the latest data from the Centers for Medicare and Medicaid Services. Democrats have placed their focus on the pharmaceutical industry, which sells drugs at higher prices in the U.S. than abroad.

The Trump administration has also vowed to lower drug costs, and President Donald Trump has indicated he’s willing to work with Democrats to do so.

Pharmaceutical companies say price increases have been modest and argue lowering drug profits would hinder the industry in making investments towards new and innovative cures.

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