Republicans Urge Drug Companies Not To Cooperate With Democrats’ Efforts To Lower Prescription Drug Prices
April 9, 2019
House Republicans are going to extraordinary lengths to protect drug companies at the expense of their own constituents. Here’s the latest on the GOP’s move to shield drug companies from a Democratic House investigation into the skyrocketing cost of prescription drugs:
House Democrats opened an investigation into how the drug industry sets prescription drug prices, so Democrats can take action to lower costs.
Rep. Cummings: “The Committee on Oversight and Reform is investigating the actions of drug companies in raising prescription drug prices in the United States, as well as the effects of these actions on federal and state budgets and on American families… The goals of this investigation are to determine why drug companies are increasing prices so dramatically, how drug companies are using the proceeds, and what steps can be taken to reduce prescription drug prices.”
But now, House Republicans are urging drug companies not to cooperate with the investigation.
BuzzFeed: “Republicans on the House Oversight Committee sent letters to a dozen CEOs of major drug companies warning that information they provide to the committee could be leaked to the public by Democratic chair Elijah Cummings in an effort to tank their stock prices.”
It’s clear that Republicans on the Oversight Committee would rather protect drug companies’ stock prices over their own constituents.
BuzzFeed: “They write that Cummings is seeking sensitive information ‘that would likely harm the competitiveness of your company if disclosed publicly.’”