Lawmakers Interrogate Ariad on Cancer Drug Price Hikes

Sen. Bernie Sanders (I-Vt.) and Rep. Elijah Cummings (D-Md.) are pressing Ariad Pharmaceuticals for answers about why the price of a cancer drug it produces has increased more than $80,000 for a year of treatment.

The price of Iclusig drug has been raised over the last four years, so that one year of treatment now costs $200,000. In a letter to Ariad, Sanders and Cummings ask for information on gross revenues, net revenues, profits and operating profits from the company’s sales of the drug; total expenses related to the development and sale of the drug; and a description and valuation of the specific financial and non-financial factors that contributed to the price hikes.

Sanders and Cummings said the requested documents should be submitted by Nov. 4.