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Pharma chiefs will testify at Senate hearing on rising drug prices

Published on 07/02/19 at 11:27am

The Chief Executives of Pfizer, Sanofi and Bristol-Myers Squibb have said that they will join four other pharma execs in testifying at a Senate hearing on the rising price of prescription drugs.

The CEOs will join Ken Fraizer the CEO of US firm MSD, in testifying at the senate hearing on 26 February. Jennifer Taubert, J&J’s head of global pharmaceuticals will also appear in front of the senate, it was announced on Wednesday.

AbbVie and AstraZeneca will also be sending executives. The hearing comes after Republican Senator Chuck Grassley, chairman of the Senate Finance Committee, and Democratic Senator Ron Wyden, ranking member of the committee invited executives from seven pharmaceutical companies to testify at the hearing.

The hearing comes amidst cross party concern over the rising price of prescription drugs. Pressure on drugmakers has increased since the beginning of the year, after Democrats seized control of the House in January of this year. The move comes after senator Bernie Sanders called on Florida-based drugmaker Catalyst Pharmaceuticals to justify the $375,000 price tag on a drug which was once free.

Louis Goss

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