February 4, 2016

2016-02-04T20:00:26-05:00

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Chief executive officers (CEOs) of several pharmaceutical companies and two Food and Drug Administration (FDA) officials testified at a hearing on prescription drug cost increases. The CEOs explained the rationale behind the increases and other factors affecting market competition. Martin Shkreli, who received widespread attention when his former Turing Pharmaceuticals company obtained the license for the drug Daraprim and raised its price by over 5,000 percent, declined to answer questions and exercised his Fifth Amendment right against self-incrimination. The FDA officials described the backlog of generic drug applications and what they are doing to expedite the review process.

Chief executive officers (CEOs) of several pharmaceutical companies and two Food and Drug Administration (FDA) officials testified at a… read more