Grassley, Wyden Invite Drugmakers to Testify at Pricing Hearing

Leaders of the Senate Finance Committee invited seven leading drug companies to testify in an upcoming hearing on drug pricing — and hinted that they will take a more aggressive approach if the drugmakers decline the invitation.

Committee Chair Chuck Grassley (R-Iowa) and Ranking Member Ron Wyden (D-Ore.) invited AbbVie, AstraZeneca, Bristol-Myers Squibb, Johnson & Johnson, Merck, Pfizer and Sanofi to testify at the Feb. 26 hearing. The letters are invitations rather than subpoenas, but the senators referred to their previous remarks at a Jan. 29 hearing about compelling testimony.

“This is an opportunity for companies that produce life-saving treatments to explain how they price these treatments and whether the status quo is acceptable,” the senators said in a joint statement. “Patients and taxpayers deserve to hear from leaders in the industry about what’s behind this unsustainable trend and what can be done to lower costs.”