Drug prices don’t budge even after pressure from Congress
WASHINGTON (AP) — Congress’s routine of publicly shaming drug company executives over high prices works no better than a placebo: It may make people feel better, but it doesn’t treat the problem.
In the last two years, House and Senate committees issued more than a dozen subpoenas to price-hiking drugmakers, collecting hundreds of thousands of documents and berating executives for more than 16 hours of public hearings.
But a review by The Associated Press of the list prices 29 brand-name medications and generic versions targeted by congressional investigators shows most haven’t budged since coming under federal scrutiny, according to figures from Truven Health Analytics. The list prices of 22 of those drugs did not change at all. Five fell, and two went up. Those that fell were generics that received little