Cummings Releases Memos Detailing Internal Corporate Documents on Skyrocketing Drug Prices

Cummings Releases Memos Detailing Internal Corporate Documents on Skyrocketing Drug Prices

Email from Martin Shkreli:"$1 bn here we come"

Washington, D.C. (Feb. 2, 2016)—Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, sent two supplemental memos to Democratic Committee Members in preparation for a hearing he requested on skyrocketing prescription drug prices this Thursday.   The memos summarize findings from more than 300,000 pages of new documents obtained from Turing Pharmaceuticals and Valeant Pharmaceuticals, including emails to and from company executives, including CEOs Martin Shkreli and J. Michael Pearson, corporate projections and analyses on revenues and profits, communications with angry hospital officials and other healthcare providers, and various public relations strategy documents.   "These new documents provide a rare, inside look at the motivations and tactics of drug company executives," said Cummings.  "They confirm what Americans across the country have experienced firsthand for years—that many drug companies are lining their pockets at the expense of some of the most vulnerable families in our nation.  The documents show that these tactics are not limited to a few 'bad apples,' but are prominent throughout the industry."
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