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.


Agenda for the two day meeting:


  • 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.


  • 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.