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Sanders and Cummings Denounce Continued Prescription Drug Price Gouging

Oct 9, 2015
Press Release

Sanders and Cummings Denounce Continued Prescription Drug Price Gouging

 

WASHINGTON, Oct. 9  – Sen. Bernie Sanders (I-Vt.) and Rep. Elijah E. Cummings (D-Md.), Ranking Member on the House Committee on Oversight and Government Reform, issued the following statement after failing to receive a response from Turing Pharmaceuticals explaining why the company dramatically hiked prices overnight on a lifesaving drug:

“Two months ago, former hedge fund manager and Turing CEO Martin Shkreli purchased Daraprim—a drug taken by cancer and AIDS patients—and increased the price 5,000 percent overnight, to $750 per pill.

“After we sent a letter condemning his blatant profiteering, Mr. Shkreli promised the American people that he would lower the price of this drug. However, instead of lowering the price as he promised, Mr. Shkreli hired an army of new Washington lobbyists and lawyers to stem the massive fallout from his actions and to stymie congressional oversight.

“On behalf of the American people, we are sickened by these actions. Mr. Shkreli is holding hostage the patients who rely on this lifesaving medication, as well as the hospitals that administer it, by charging unconscionable prices for a drug on which he has a monopoly—just because he can.”

114th Congress