News Headlines Article

Congress says drugmakers planned price hikes to boost profits
Modern Healthcare

Two drugmakers have made a practice of buying and then dramatically hiking the prices of low-cost drugs given to patients with life-threatening conditions including heart disease, AIDS and cancer, according to excerpts from thousands of documents released by federal lawmakers.

A congressional review of more than 300,000 pages from Turing Pharmaceuticals and Valeant Pharmaceuticals reveals how executives planned to maximize profits while fending off negative publicity over the price hikes. Rep. Elijah Cummings, D-Maryland, released the information Tuesday ahead of a hearing Thursday to examine exorbitant price spikes.

Commands