Senate committee invites 7 pharmaceutical companies to hearing on prescription drug prices
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Senate committee invites 7 pharmaceutical companies to hearing on prescription drug prices

The US Senate Finance Committee on Monday invited seven major pharmaceutical companies to the second in a series of hearings exploring the high prices of prescription drugs.

Chairman Chuck Grassley and Ranking Member Ron Wyden sent the invitations to AbbVie, AstraZeneca, Bristol-Myers Squibb, Johnson & Johnson, Merck & Co., Pfizer and Sanofi. Some of those companies were invited to the first hearing in January but declined to testify. introduced three pieces of legislation to the Senate focused on regulating prescription drug prices. The three bills—the Prescription Drug Price Relief Act, the Medicare Drug Price Negotiation Act and the Affordable and Safe Prescription Drug Importation Act—aim to lower prescription drug prices for Americans by implementing government price controls and oversight. The bills are estimated to save the US around $360 billion across 10 years.