Senators grill Merck, J&J and Bristol Myers Squibb CEOs over high U.S. drug pricing
Publishing timestamp: 2024-02-08 11:12:00
Summary
Senators are questioning the CEOs of Johnson & Johnson, Merck, and Bristol Myers Squibb about the high prices of their drugs in the U.S. compared to other countries. The article highlights the negative impact of high drug prices on Americans and the strategies used by the companies to maintain their pricing power. The CEOs acknowledge the high cost of healthcare but emphasize the need to balance lowering prices with the ability to invest in new medicines. The article also mentions upcoming Medicare drug price negotiations that the companies are suing to halt.
Sentiment: NEGATIVE
Keywords: us senate, pharmaceuticals, breaking news: politics, biotechnology, health care industry, business, business news, social issues, johnson & johnson, merck & co inc, bristol-myers squibb co, breaking news, politics, united states, prices, biotech and pharmaceuticals,
Source: https://www.cnbc.com/2024/02/08/jj-merck-bristol-myers-squibb-ceos-senate-drug-price-hearing.html