Senate Special Committee on Aging explores generic price spikes

WASHINGTON — The Senate Special Committee on Aging, led by chairman Susan Collins, R-Maine, and ranking member Claire McCaskill, D-Mo., on Wednesday hosted the first in a series of hearings the Committee will conduct to investigate recent instances of abrupt and dramatic generic drug price increases. 

 

The hearing hopes to provide insight into the causes behind price hikes on off-patent drugs and the effect these price increases have on patients’ access to medication, the Senate Special Committee reported. The Committee will also look at how current regulations and public policy may contribute to this issue. 

 

"Generic price spikes are negatively impacting patients, pharmacists and health care payers alike," stated NCPA CEO Douglas Hoey. "Importantly, the associated slow and low price adjustment on generic medications is wreaking havoc on the ability of small business pharmacies to remain viable and continue to provide critical medications and related care to patients. We commend Congress for conducting this hearing and urge lawmakers to take additional steps for increased transparency and adequate pharmacy reimbursement."

 

Witnesses called on Wednesday included: 

• Gerard Anderson, professor, health policy and management, medicine, and international health, Johns Hopkins University;
• Erin Fox, director, Drug Information Service, University of Utah Health Care and adjunct associate professor, University of Utah College of Pharmacy, Department of Pharmacotherapy;
• David Kimberlin, professor and vice chair for Clinical and Translational Research and co-director, division of pediatric infectious diseases, Department of Pediatrics, University of Alabama at Birmingham; and
• Mark Merritt, president and CEO, Pharmaceutical Care Management Association.

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Senate Special Committee on Aging explores generic price spikes