House committee targets Mallinckrodt, Amgen and Novartis over price increases

During the second and final day of a drug pricing hearing, Democratic members of the House Oversight and Reform Committee again pounded pharma CEOs, accusing them of taking unjustified price increases and engaging in anti-competitive activities.

The hearing continued themes that were discussed Wednesday, including assertions that compensation formulas push pharma executives to grow revenues, even when the only path to higher revenues is through increasing prices on decades-old products (see “Revlimid, Copaxone are Poster Children for Price Abuses”). ...