Senator Asks Drugmakers for Details on Use of Tax Cut Savings

Sen. Tina Smith (D-Minn.) sent letters to the CEOs of five drug manufacturers seeking information on how much money from their recent tax cut had gone toward efforts to reduce drug prices.

In the letters, Smith asked the CEOs of Johnson & Johnson, AbbVie, Abbott, Merck and Pfizer to account for how they would use the savings.

The letters further asked the recipients if they had awarded bonuses or otherwise changed officer compensation. Smith asked for a detailed accounting of any changes in list prices for the companies’ drugs since Nov. 2, 2017.