BLOG

Government Investigating Rising Drug Costs

A U.S. House of Representatives investigative panel plans to hold a 2016 hearing on skyrocketing drug costs. The panel is conducting an investigation into drug pricing and has reached out to drug companies to gather information.

One of the drug companies being investigated is Valeant Pharmaceuticals International. The panel is looking into allegations that the company has been involved in questionable billing practices, as well as examining the company’s relationship with the specialty pharmacy, Philidor Rx Services.

Valeant first disclosed its ties to Philidor late last month, amid concerns over the pharmacy’s tactics to get insurers to pay for Valeant medications. It has since severed ties with the pharmacy, saying it has lost confidence in Philidor after questions about its business practices.

Valeant is also facing investigations by prosecutors in New York and Massachusetts over its drug pricing and its programs that provide financial assistance to help patients cover out-of-pocket expenses for their medications.

Filed under: Employee Benefits,Health & Wellness,Recent Headlines — Jillian Bender-Cormier @ 5:38 pm December 22, 2015