Democrats on the House Oversight Committee are launching an investigation into why pharmaceutical companies have been jacking up prices for lifesaving medications. In January, they requested information from 12 drug companies, including Pfizer, Novartis, Johnson & Johnson, Eli Lily, and AstraZeneca.
But according to BuzzFeed News, Republican members of the committee, led by Reps. Mark Meadows (R-NC) and Jim Jordan (R-OH), are sending their own letters, warning these companies to not cooperate with the congressional investigation.
Their reasoning? They accuse Democratic Oversight Chairman Elijah Cummings (D-MD) of orchestrating these investigations as an underhanded scheme to lower drug companies' stock prices.
"Rep. Jordan is on the absolute wrong side here," said Cummings in a statement to BuzzFeed. "He would rather protect drug company 'stock prices' than the interests of the American people."
Drug price hikes in recent years have been out of control, with more than 1,000 medications facing increases in January alone. And this trend has had tragic consequences — the exploding cost of insulin, for example, has led many diabetics to ration their doses, which can be life-threatening.