The Committee on Oversight and Reform obtained more than 1.5 million pages of internal company documents, held five hearings, and released eight interim staff reports.
The panel’s chair by Rep. Carolyn Maloney noted in a letter at the beginning of the report. “The investigation has provided a rare glimpse into the decision-making of many of the world’s most profitable drug companies.”
Specifically, as a committee statement detailed, the probe revealed:
Drug companies aggressively raise prices to meet revenue targets, and executive compensation structures create incentives to raise prices;Drug companies target the U.S. market for higher prices and use the Medicare program to boost revenue;Drug companies use strategies to suppress competition and maintain monopoly pricing;Drug companies use patient assistance programs as a public relations tool to boost sales; andResearch and manufacturing costs do not justify price increases.