Chairman of the House Oversight Committee Rep. Elijah Cummings (D-MD) launched an investigation today into the drug pricing practices of 12 pharmaceutical companies.
A number of companies named in the investigation saw their stock prices fall, including Amgen (NSDQ:AMGN), AbbVie (NYSE:ABBV), AstraZeneca (NYSE:AZN), Eli Lilly (NYSE:LLY) and Novo Nordisk (NYSE:NVO). A hearing is reportedly set for Jan. 29 and will include patients affected by rising drug costs.
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