House Democrats launch probe into drug prices

“Other studies show an even bigger increase in drug prices, particularly the most widely used and popular ones” writes Jeffry Bartash for Newly empowered Democrats who’ve taken control of the House of Representatives have launched a probe into drug prices as the political climate darkens for large pharmaceutical makers.Elijah Cummings, chairman of the House Committee on Oversight and Reform and a Maryland Democrat. “The goals of this investigation are to determine why drug companies are increasing prices so dramatically, how drug companies are using the proceeds, and what steps can be taken to reduce prescription drug prices,” he said.Drug prices have risen much faster than the rate of inflation in most years, leading to public and political pressure to reduce costs.Prescription drug prices actually fell 0.6% in 2018 to mark the first drop in 46 years, according to the consumer price index.

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