Senate Panel Launches Investigation Into Pharmaceutical Pricing

The bipartisan panel has asked 4 drug makers, including Turing Pharmaceuticals, to submit documents to the US Senate's Special Committee on Aging.

Four companies—Valeant Pharmaceuticals, Turing Pharmaceuticals, Retrophin Inc, and Rodelis Therapeutics—have been reprimanded by the US Senate's Special Committee on Aging. This is a result of the unreasonable drug price hikes of generic drugs that had been acquired by these companies. Additionally, Democrats want to vote on issuing a subpeona to both Valeant and Turing Pharmaceuticals.

"We need to get to the bottom of why we're seeing huge spikes in drug prices that seemingly have no relationship to research and development costs," said Senator Claire McCaskill, D-Missouri, in a statement. She added that some of the increases resemble "little more than price gouging."

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