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WATCH: Patients affected by rising drug prices testified before House committee

The House Committee on Oversight and Reform on Friday heard from patients who rely on life-saving medications, but find those prescriptions increasingly unaffordable.

Since January, the committee has investigated pharmaceutical company practices of raising drug prices. On average, these prices escalate at five times the rate of inflation, according to the House Oversight committee.

The hearing on Capitol Hill comes at a time when the Trump administration has initiated several efforts to reduce drug prices and the cost of healthcare overall.

In February, Health Secretary Alex Azar said he would target drug price rebates as a way to lower overall costs on prescription medications. But earlier this month, the Trump administration walked back this idea.

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