As we reported last week, Senate Finance Committee leaders were disappointed that the CEOs of major drug manufacturers did not attend the committee’s Jan. 29 hearing, in which the role of rebates in drug pricing was discussed, as well as the lack of transparency among pharmacy benefit managers (PBMs), who negotiate with drug companies and are expected to pass along some of their rebates to consumers.
The committee’s next hearing in its series focused on high drug pricing will take place Feb. 26, and it appears the big pharma executives will testify this time. So far, those who have accepted the Finance Committee’s invitation include Johnson & Johnson’s Jennifer Taubert, Pfizer’s Albert Bourla, Sanofi’s Olivier Brandicourt, Bristol-Myers Squibb’s Giovanni Caforio, and Merck’s Ken Frazier. Two other companies, AbbVie and AstraZeneca, were invited but have not yet agreed to testify.
As more information becomes available about the Feb. 26 hearing, it will be posted on the Senate Finance Committee website. We will keep you updated.