Senate panel grills pharmaceutical CEOs on drug prices: ‘You bear a measure of responsibility’

• U.S. senators questioned pharmaceutical CEOs about the higher prices of prescription drugs in the U.S. compared to other countries.
• Executives from Johnson & Johnson, Merck, and Bristol Myers Squibb acknowledged these higher prices, citing the complexities of the U.S. healthcare system.
• Senator Bernie Sanders emphasized the lack of government regulation in controlling drug prices.
• The hearing discussed the role of pharmacy benefit managers (PBMs) in the drug pricing process.
• The discussion took place in the context of new Medicare drug price negotiations under the Inflation Reduction Act.