Senators Grill HHS's Azar on Drug Price Cuts That Have Yet to Come - (Xconomy via NewsPoints Desk)

  • US lawmakers questioned Department of Health and Human Services Secretary Alex Azar about recently promised price cuts on prescription drugs, Xconomy reported Wednesday.

  • Last month, President Donald Trump promised that drugmakers would announce "voluntary massive drops in prices," while Azar provided little details regarding how such cuts would be ensured.

  • Azar explained that he would "love it if drug companies cut prices on their own" but noted that his goal is to create competition.

  • Meanwhile, Senator Ron Wyden questioned the administration's recently unveiled blueprint for reducing drug pricing, describing efforts to get companies to raise prices in other countries so that they could be lowered in the US as a "fantasyland."

  • Additionally, Senator Bill Cassidy urged Azar to adopt reference pricing, commenting that efforts to allow the market to dictate price did not result in lower prices for Novartis' Gleevec.

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