U.S. House Oversight & Reform Committee Report Finds Big Pharma’s Pricing Practices Are “Unsustainable, Unjustifiable and Unfair”
For Immediate Release
Contact: Jon Conradi
Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released a statement Friday in response to a new report from the U.S. House Committee on Oversight and Reform examining Big Pharma’s pricing and business practices.
“CSRxP applauds Chairwoman Maloney and members of the committee for completing their nearly three-year landmark investigation into Big Pharma’s egregious pricing and anti-competitive practices that have created a crisis of prescription drug affordability,” said CSRxP executive director Lauren Aronson. “The committee’s findings have added to the unprecedented momentum for action in Washington by debunking Big Pharma’s false rhetoric on innovation and showcasing how the branded drug industry puts profits over people.”
In its final report, the House Oversight and Reform Committee finds Big Pharma’s pricing practices are “unsustainable, unjustifiable and unfair.” Read the full report HERE.
In May, the Committee released a report detailing Big Pharma giant AbbVie’s egregious pricing and marketing tactics around two of the company’s best-selling products – rheumatoid arthritis drug Humira and lymphoma drug Imbruvica. Read the full report HERE.
Last fall, the Committee released a report highlighting internal company documents from Big Pharma drug makers Bristol Myers Squibb, Amgen and Novartis, revealing the companies’ egregious price-gouging and anti-competitive behavior. Read Chairwoman Maloney’s summary of the findings HERE.
And earlier this year, Chairwoman Maloney (D-NY) and Representative Frank Pallone (D-NJ), Chairman of the U.S. House Committee on Energy and Commerce, announced a joint investigation into the pricing of unproven Biogen Alzheimer’s treatment Aduhelm.
Learn more about why Big Pharma’s bogus innovation rhetoric doesn’t hold-up to scrutiny HERE.
Learn more on market-based solutions to hold Big Pharma accountable and lower prescription drug prices HERE.