ABSTRACT

Unsustainable Drug Prices (Part III): Testimony from AbbVie CEO Richard Gonzalez, Hearing Before the Committee on Oversight and Reform, House of Representatives, One Hundred Seventeenth Congress, First Session, May 18, 2021   [open pdf - 285KB]

This is the May 18, 2021 hearing on "Unsustainable Drug Prices (Part III): Testimony from AbbVie CEO Richard Gonzalez," held before the U.S. House Committee on Oversight and Reform. From the opening statement of Carolyn Maloney: "Today we will hear from Richard Gonzalez, the CEO of AbbVie. [...] AbbVie has repeatedly raised the prices of Humira, which is used to treat rheumatoid arthritis and other autoimmune diseases, and Imbruvica, a drug approved to treat different forms of cancer. AbbVie charges approximately $77,000 a year for a year's supply of Humira. That is 470 percent more than when the drug was launched in 2003. Humira is the highest-grossing drug in the United States due, in large part, to these horrendous price increases. You see where it started out at $500 for a syringe; it is now at $2,984 just for a syringe. AbbVie and its partner, Janssen Biotech, charged even more, over $181,000 for a year's supply of Imbruvica. That is 74 percent more than when the drug was launched in 2013. Experts estimate that by 2026, Imbruvica will be the fourth bestselling drug in the United States. These prices are outrageous and unfair." Statements, letters, and materials submitted for the record include those of the following: Aaron Kesselheim, Craig Garthwaite, Tahir Amin, and Richard Gonzalez.

Report Number:
Serial No. 117-22
Publisher:
Date:
2021
Copyright:
Public Domain
Retrieved From:
U.S. Government Publishing Office: http://www.gpo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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