Cummings, Grassley vow to combat rising drug prices in dueling hearings - (MarketWatch via NewsPoints Desk)

  • US Representative Elijah Cummings and Senator Chuck Grassley both pledged to take steps to combat rising drug prices in duelling hearings, MarketWatch reported Tuesday.

  • "There's a strong bipartisan consensus that we must do something — something meaningful — to rein in the out-of-control price increases," stated Cummings, adding "even President [Donald] Trump has said that drug companies are 'getting away with murder…this is a matter literally of life and death, and we have a duty to act now."

  • Additionally, Grassley pledged to "specifically get to the bottom of the insulin-price increase."

  • "We expect headline risk to industry participants across the drug supply chain and beyond due to congressional hearings in the House and Senate," cautioned Height Capital Markets analyst Hunter Hammond.

  • However, Hammond questioned the likelihood of legislative action on drug prices or other healthcare issues, commenting "while many of the policies are bipartisan on the surface, the complexities of each topic will likely challenge interest groups and politicians alike."

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