Representatives for seven top pharmaceutical companies are slated to testify before Congress (watch the hearing here) today on the rising cost of medicine. The hearing is scheduled to begin at 10:15 a.m.
According to a Wall Street Journal report, testimony obtained during the hearing could play a key role in bipartisan legislation targeting drug prices.
The following executives will testify during today’s hearing:
- Albert Bourla, Pfizer CEO;
- Richard Gonzalez, AbbVie CEO;
- Pascal Soriot, AstraZeneca CEO;
- Kenneth Frazier, Merck CEO;
- Olivier Brandicourt, Sanofi CEO;
- Giovanni Caforio, Bristol-Myers Squibb CEO; and
- Jennifer Taubert, Janssen Pharmaceuticals executive vice president.
Johnson & Johnson CEO Alex Gorsky was invited to the hearing, but Taubert will testify in his place. J&J owns Janssen Pharmaceuticals.
Ira Loss, Washington Analysis health care analyst, tells the Post to expect the executives to point the finger elsewhere.
“The drug industry is going to come in and blame the pharmacy-benefit managers for the problems and say, ‘It’s not our fault,'” Loss said.
To read the full report on the Wall Street Journal, click here.
To watch the hearing, click here.