US Senate investigates impact of sudden price increase of some medicines

The US Senate’s special committee on aging has heard evidence that recent sharp price increases of some medicines could affect patients and lead to supply problems.

The committee, chaired by Senator Susan Collins, is reviewing price increases which, it said, appeared to be “little more than price gouging.”

The hearing focused primarily on two companies – Turing Pharmaceuticals and Valeant Pharmaceuticals – both of which have hit the headlines recently for dramatically hiking the price of off-patent, life-saving drugs shortly after acquiring them.