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Senators blast pharma executives for price hikes

Pharmaceutical companies responsible for some of the biggest price hikes in recent years earned bipartisan condemnation at a recent hearing of a Senate committee.

By Jack Craver | Updated on December 10, 2015
Carrying an image of Turing Pharmaceuticals CEO Martin Shkreli in a makeshift cat litter pan, AIDS activists and others protest highlighting pharmaceutical drug pricing. Turing Pharmaceuticals sparked an angry backlash last month after it raised the price of Daraprim, the only approved treatment for a rare, life-threatening parasitic infection, by more than 5,000 percent. (AP Photo/Craig Ruttle)

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. 

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Jack Craver

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