Drug prices don't budge even after pressure from Congress

[TexasTowelie]

WASHINGTON (AP) — Congress's routine of publicly shaming drug company executives over high prices works no better than a placebo: It may make some people feel better, but it doesn't treat the problem.

In the last two years, House and Senate committees issued more than a dozen subpoenas to price-hiking drugmakers, collecting hundreds of thousands of documents and berating executives for more than 16 hours of public hearings.

But a review by The Associated Press of the list prices of nearly 30 brand-name medications and generic versions targeted by congressional investigators shows most haven't budged since coming under federal scrutiny, according to figures from Truven Health Analytics.

"These companies have made clear that they are not going to change course on their own — they will keep bilking the American people for all they can unless Congress acts," said Rep. Elijah Cummings, D-Maryland, the ranking member on the House Committee on Oversight and Government Reform.

Read more: http://www.cnbc.com/2016/11/16/drug-prices-dont-budge-even-after-pressure-from-congress.html

[elehhhhna]

1. Happens all the time they shit talk an entire industry, wait for the money from that industry,

And do nothing. It's just a shakedown.

[Dustlawyer]

2. Hopefully Congress, who has been OWNED by Big Pharma, will break the chains and institute

national buying power and lower the government's cost at a minimum. In fairy tail land they would put in price controls and other measure to reduce the price we pay compared to the rest of the world since we pay so much more than everyone else!

[Wilms]

3. "Calling Dr. Dean!"

Oh. Wait.

[sinkingfeeling]

4. Well, they'll budge with Trump. Upward!