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President Joe Biden’s 2023 State of the Union address
WATCH: Biden envisions hundreds of thousands more jobs to rebuild U.S. pride
By Associated Press
Live updates: State of the Union 2023
The state of our union, in 6 charts
By Jenna Cohen, Hannah Grabenstein, Joshua Barajas
By Justin Stabley
WASHINGTON — Seven top pharmaceutical executives are telling lawmakers they do not withhold their drugs from potential competitors to stop them from developing cheaper versions.
Generic drugmakers can only develop lower-cost versions of brand-name medicines if they obtain samples of the original drugs. Some drugmakers have blocked competition for their medications by preventing would-be competitors from obtaining samples of the drugs.
But the executives from Pfizer, Merck, Sanofi and four other companies said Tuesday at a congressional hearing on drug prices that they do not use the tactic. Several executives also say they support a bill in Congress that would ban the practice.
Members of the Senate Finance Committee say they plan to overhaul industry practices to lower drug prices for U.S. patients.
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