House Oversight Committee hold hearings on drug Pricing.
The Committee is holding two days of hearings with top executives of major drug companies to examine their pricing practices for some of the costliest drugs in the United States. The hearings, titled “Unsustainable Drug Prices: Testimony from the CEOs,” are taking place Wednesday, September 30, and Thursday, October 1, at 10 a.m.
On Wednesday, the committee heard from two executives involved in the princing of Revlimid. Revlimid was approved on June 29, 2006 for for use in combination with dexamethasone as a treatment for patients with multiple myeloma who have received at least one prior therapy but received a prior approval for MDS.
Since it’s launch in December 2005, the price of Revlimid has been increased 23 times. At launch, Revlimid was $215 per pill. The price today stands at $763 or more than three times the cost at launch.
The price today stands at $763 or more than three times the cost at launch.
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- High drug prices driven by profits, House committee …
- Congressional investigation reveals Celgene, Teva plotted to keep drug prices high
Agenda for the two day meeting:
DAY ONE—WEDNESDAY, SEPTEMBER 30
- Mark Alles
Former Chief Executive Officer
Celgene Corporation
Celgene sold the cancer drug Revlimid until November 2019. - Dr. Giovanni Caforio
Chief Executive Officer
Bristol Myers Squibb
Bristol Myers Squibb has sold Revlimid since November 2019. - Kåre Schultz
Chief Executive Officer
Teva Pharmaceuticals
Teva sells the multiple sclerosis drug Copaxone.
DAY TWO—THURSDAY, OCTOBER 1
- Robert Bradway
Chief Executive Officer
Amgen, Inc.
Amgen sells the anti-inflammatory drug Enbrel and the chronic kidney disease drug Sensipar. - Mark Trudeau
Chief Executive Officer
Mallinckrodt Pharmaceuticals
Mallinckrodt sells the autoimmune and inflammatory disease drug H.P. Acthar Gel. - Thomas Kendris
U.S. Country President
Novartis AG
Novartis sells the cancer drug Gleevec.
Both hearings will start at 10 a.m. ET. A livestream of the hearings will be available here.