Congress holds hearing on reforming high drug costs

Members of the House Committee on Oversight and Government Reform on February 4 grilled witnesses representing pharmaceutical companies, FDA, and the pharmacy drug benefit (PBM) industry about the high cost of prescription medications.

There were plenty of price hikes to discuss during the 4.5-hour hearing, but the notorious 5,000% increase of pyrimethamine (Daraprim) from Turing Pharmaceuticals’ then CEO Martin Shkreli that caused a media firestorm last year had committee members clearly outraged.