Pharmaceutical companies responsible for some of the biggest price hikes in recent years earned bipartisan condemnation at a recent hearing of a Senate committee.
Turing Pharmaceuticals, Valeant Pharmaceuticals, Retrophin Inc. and Rodelis Therapeutics were criticized by members of the Senate Special Committee on Aging for buying the rights to life-saving drugs and then dramatically hiking their price. Increasingly, companies backed by hedge-funds and other venture capital have been scooping up some of the top off-patent medications.
"The Turing and Valeant price spikes have been egregious," Sen. Susan Collins, R-Maine, the committee chair, said at a hearing Wednesday. Her Democratic counterpart on the committee, Missouri Sen. Claire McCaskill, voiced similar suspicion in an interview with NPR.
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