Senate Finance Committee chairman Chuck Grassley said the committee's investigation of drug pricing will not be limited to pharmaceutical companies, CNBC reported Tuesday.
The news comes as executives from AbbVie, AstraZeneca, Bristol-Myers Squibb, Johnson & Johnson, Merck & Co., Pfizer and Sanofi are set to attend a committee hearing.
"I think there is not enough information available about how prices are arrived at," Grassley stated, adding 'there seems to be a great deal of secrecy. For me, on a lot of legislative issues, particularly my oversight works, transparency brings accountability, so we need to get some transparency into it."
Grassley wants drugmakers to explain how list prices are set for drugs, as well as the final costs charged to consumers.
The news comes after Grassley and Senator Ron Wyden launched a probe into insulin pricing practices by Eli Lilly, Novo Nordisk and Sanofi.
"Republicans are angry. Democrats are angry — it's really everyone at this point," remarked Ipsita Smolinski, managing director at Capitol Street, noting that drugmakers "are very aware of the environment."
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