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“At a recent hearing of the Senate Finance Committee, Chairman Sen. Chuck Grassley (R-Iowa) warned the seven assembled drug company executives not to point fingers: “It’s time for solutions,” he said.
They didn’t listen. Instead, they blamed everything from pharmacy benefit managers to Medicaid to the popular 340B discount program for why prescription drug prices continue to hit record highs. None of them took any responsibility for their own prices.
It’s an odd logic indeed to accuse the government of distorting a market that it has very little to do with. President Trump and the bipartisan leadership in Congress deserve enormous credit for trying to address the problem of sky-high drug prices, and Big Pharma execs need to stop looking for scapegoats.
Drug makers have been increasing prices at an alarming rate. We all know that medication is a vital part of our healthcare system, but it’s extremely telling that when pressed the pharmaceutical industry could not offer a reasonable explanation for its pricing decisions.”