The House Oversight Committee is inviting two pharmaceutical executives who have been under fire for dramatically increasing the prices of their drugs to testify next month, according to Democrats.
After pressure from Democrats to focus more on high drug prices, Oversight Chairman Jason Chaffetz intends to hold a hearing on the matter in January. Committee Democrats said Chaffetz plans to invite Turing Pharmaceuticals CEO Martin Shkreli, although Republicans later said they haven’t yet decided who to invite.
“During the course of our investigation we’ve met with a wide range of stakeholders, government officials and other interested parties,” said Republican spokeswoman M.J. Henshaw. “For the upcoming hearing, all industry experts are possible witnesses. Hearing details, including witness invites, are still being worked out.”
Shkreli announced over the summer that his company would sell anti-malarial treatment Daraprim for 5,000 percent more after gaining its manufacturing license. He incited widespread outrage with the announcement, leading some to dub him the “most hated man” in healthcare. The company is charging $750 for one tablet of Daraprim, which previously cost $13.50.
For their part, Democrats are inviting Michael Pearson, chief executive of Valeant Pharmaceuticals, who earlier this year raised the price of one heart drug by 525 percent and another by 212 percent immediately after acquiring the rights to them.
Valeant is also facing a congressional probe led by top Oversight Democrat Elijah Cummings into its questionable ties with the specialty pharmacy Philidor RX, which seemingly does business only with Valeant.
Cummings, who recently has sought to bring more attention to drug pricing, wrote to Pearson on Tuesday, slamming him for not providing documents the committee had requested and asking for more information about Valeant’s relationship to Philidor by Jan. 8.
“You have provided none of the requested documents or interviews,” Cummings wrote to Pearson in a letter provided to the Washington Examiner. “Instead, you hired a crisis management firm and retained a law firm in Washington, D.C., that specializes in defending large banks and pharmaceutical companies before Congress.”
It’s not clear which executives will testify before the panel.
