Nova 401(k) Associates
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Nicholas Pension Consultants
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|Report of House Committee on Oversight and Reform: Drug Pricing Investigation (PDF)|
Committee on Oversight and Government Reform, U.S. House of Representatives
Dec. 23, 2021
269 pages. "Although the markets for these products differ, the Committee uncovered common practices that cut across the industry. First, drug companies have raised prices with abandon, especially when they succeed in delaying or blocking competition.... Second, companies have manipulated the patent system and marketing exclusivities granted by the [FDA] to extend their monopolies far longer than lawmakers envisioned when they created these systems.... Third, all the companies the Committee investigated have employed anticompetitive strategies to suppress generic competition.... These practices persist because the highly complex U.S. pharmaceutical market creates perverse incentives to raise prices, and unlike in other countries, drug companies can do so without limitation."
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