US lawmakers demand US drugmakers be investigated for possible setting of prices

us-lawmakers-demand-us-drugmakers-be-investigated-for-possible-setting-of-prices

Prominent U.S. lawmakers call on federal antitrust regulators to probe whether Sanofi SA, Eli Lilly and Co, Merck & Co Inc and Novo Nordisk A/S have colluded to set prices for insulin and other diabetes drugs. The request follows a similar one made the previous fall regarding an investigation of 14 drug companies.

Federal antitrust regulators were called upon to investigate whether Sanofi SA, Eli Lilly and Co, Merck & Co Inc and Novo Nordisk A/S have colluded to set prices for insulin and other diabetes drugs by two prominent U.S. lawmakers.  In their latest letter to the Justice Department and Federal Trade Commission, Sanders, an independent, and Cummings, a Democrat, raised questions about skyrocketing prices for insulin and included a chart showing that many of the price spikes appeared to occur in tandem. They also noted that the original patent on insulin, a hormone used by diabetics to control blood sugar levels, expired 75 years ago.

The request made by U.S. Senator Bernie Sanders and Representative Elijah Cummings follows a similar letter sent last fall calling for an investigation into 14 drug companies over the price increases of generic drugs.U.S. prosecutors could file the first charges by the end of the year in their subsequent criminal investigation of generic drugmakers over suspected price collusion.

About the Author

mm
Stefan Kachakov
My name is Stefan Kachakov and I’m working as content writer at Business News Feeds. I'm writing for business news, finance statements and business management for North, Central and South Americas and Europe.

Be the first to comment on "US lawmakers demand US drugmakers be investigated for possible setting of prices"

Leave a comment

Your email address will not be published.


*