Senators urge pharma CEOs to rein in lobbyists
WASHINGTON (AP) - Senators are urging top pharmaceutical executives to help Congress take action against the industry's worst actors who hike prices on once-cheap drugs.
Democrat Sen. Sheldon Whitehouse of Rhode Island says the drug industry's reputation has been tarnished by a handful of companies that monopolize decades-old drugs and hike their prices. Whitehouse told pharmaceutical executives: "turn off your lawyers and lobbyists when we try to solve that problem."
CEOs from seven of the largest drugmakers, including Pfizer, Merck and AbbVie, are testifying before the Senate Finance Committee. The hearing marks the first time the industry's top CEOs have been called to account for how they price their medicines.
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