According to people close to the matter, US lawmakers will be sceptical if pharmaceutical executives blame pharmacy benefit managers for rising drug prices in a Senate Finance Committee hearing next week, Bloomberg reported Friday.
The sources said senators will become increasingly combative if drugmakers do not acknowledge the role in soaring drug costs.
In either case, the executives are expected to argue that the rebate system has failed to lower costs.
In the hearing, CEOs from AbbVie, AstraZeneca, Bristol-Myers Squibb, Johnson & Johnson, Merck & Co., Pfizer and Sanofi are expected to testify.
"Pharma executives don't mind having the stage to themselves," commented Bloomberg Intelligence analyst Brian Rye, adding "it'll give them the opportunity to offer a perspective from a consistent point of view."
Separately on Friday, Senators Chuck Grassley and Ron Wyden launched an investigation into rising insulin prices that is specifically targeting Eli Lilly, Novo Nordisk and Sanofi.
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