A Senate committee hearing on the price of prescription drugs turned into a disagreement on the value of capitalism in the field of medicine and drug development.
Drug company CEOs were in the hot seat during the Feb. 8 hearing, as Sen. Bernie Sanders (I-Vt.) attempted to pin down the reason for high drug costs and obtain commitments to lower the cost of the medications.
In the course of a hearing held by the Senate Health, Education, Labor, and Pensions Committee, Mr. Sanders questioned the chief executive officers of Merck, Johnson & Johnson, and Bristol Myers Squibb regarding the reasons for the much higher prices of their pharmaceuticals in the United States in comparison with other countries.
“The overwhelming beneficiary of high drug prices in America is the pharmaceutical industry,” Mr. Sanders said. “The United States government does not regulate drug companies. With a few exceptions, the drug companies regulate the…
