In landmark hearing, drugmakers and lawmakers agree that US policy on drug pricing is ripe for change — but there's no consensus on much else
Seven big pharma executives faced a platoon of US senators on Tuesday, expecting a dressing down on the industry’s track record of relentless price hikes that has sparked bipartisan furor — but were instead treated to a conscientious debate, high on concern and low on contention.
Matters kicked off with Senator Ron Wyden admonishing every biopharma representative for their company’s tactics, including AbbVie protecting its $18-billion-a-year Humira from generics like “Gollum with his ring,” and Pfizer for making the “emptiest pricing gesture” by pressing pause on hikes under pressure from President Donald Trump for a period only to resume later.
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