House Democrats Launch Drug-Pricing Probe Into a Dozen Major Health-Care Companies

CNBC News has learned that the House Oversight Committee is investigating the actions of 12 major pharmaceutical companies in raising prescription drug prices in the United States. Seeking detailed information and documents about each companies' pricing practices, Chairman Elijah Cummings (D-Md.) has sent letters to AbbVie, Amgen, AstraZeneca, Celgene, Eli Lilly, Johnson & Johnson, Mallinckrodt, Novartis, Novo Nordisk, Pfizer, Sanofi, and Teva Pharmaceuticals. AbbVie and Sanofi received information requests regarding three of their drugs, while Amgen, Pfizer, and Novo Nordisk fielded requests about two drugs. The others were each asked about one drug. Cummings wrote in an official statement: "The goals of this investigation are to determine why drug companies are increasing prices so dramatically, how drug companies are using the proceeds, and what steps can be taken to reduce prescription drug prices."