Skyrocketing drug prices and the public outcry to those rising costs have caught the attention of the feds. A U.S. Senate committee is launching a bipartisan investigation into the huge drug price hikes by four pharmaceutical companies…..including Turing Pharmaceuticals.
The Senate’s Special Committee on Aging requested documents and information on Wednesday from Turing, Valeant Pharmaceuticals and two other drug makers already under scrutiny for recent price spikes.
Notably, the senators called for a face-to-face meeting with the chief of Turing, Martin Shkreli, “as soon as it is practicable.” A former hedge fund manager, Mr. Shkreli has become the public face of the pricing controversy, after his company raised the price of the anti-infection drug Daraprim by more than 5,000 percent.
A recent Kaiser Health Tracking Poll found that rising drug prices is the public’s top health priority. This issue is gaining momentum on both sides of the aisle.
Republican presidential candidate Marco Rubio recently called out drug makers saying some pharmaceutical companies are engaging in “pure profiteering” and that high prices threaten to “bankrupt our system.” And Democratic presidential hopefuls Hillary Clinton and Bernie Sanders have each laid out plans to regulate drug prices…..with Sanders calling the lack of such price controls in the U.S. “an unmitigated disaster.”
As for the Senate inquiry into rising drug prices – each of the four companies has been asked to present all the requested information to the committee by the first week of December.
Let us know what you think about the rising costs and whether you believe the government should get involved. Starting a conversation about this controversial issue is important to our long term goal of making Arizona the Healthiest State in the Nation!