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House lawmakers on both sides of the aisle pummeled AbbVie CEO Richard Gonzalez for raising the price of two widely used drugs and for the company s legally questionable tactics to head off competition from biosimilars, despite pulling in healthy profits.
Much of Tuesday s House Committee on Oversight and Reform hearing centered around two issues: the risks and benefits of Medicare price negotiation and potential abuse of the patent system.
Committee Chairwoman Carolyn Maloney (D-N.Y.) charged that Gonzalez and other AbbVie executives were actively targeting the U.S. for price increases while lowering prices in other countries.
AbbVie charges $77,000 for a year s supply of adalimumab (Humira), which is 470% more than what it charged when the drug was first launched in 2003. A single syringe of the tumor necrosis factor (TNF) blocking agent costs over $1,000 more in the U.S. compared to some other countries, including Canada, Japan, Korea, and the U.K.
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This week in Washington: President Biden
Announces American Families Plan Vision in Speech to Joint Session
of Congress.
HOUSE
House Education and Labor Committee to Hold Hearing to Discuss
Drug Pricing Bill
On May 5, the House Education and Labor Committee s
Subcommittee on Health, Employment, Labor, and Pensions will hold a
hearing to discuss the Elijah E. Cummings Lower Drug Costs Now Act
(H.R. 3). The bill, which was first introduced
in 2019, would allow the federal government to negotiate the cost
of prescription drugs and cap seniors out-of-pocket costs for