Regulatory front for Sept. 2, 2020
U.S. Rep. Carolyn Maloney (D-N.Y.), chair of theHouse Committee on Oversight and Reform, said she is issuing a subpoena to North Chicago-basedAbbvie Inc.as part of the committee’s ongoing investigation of drug company pricing practices. “After more than 18 months, Abbvie has demonstrated its unwillingness to comply voluntarily with the committee’s investigation,” Maloney said in a Sept. 1 memorandum sent to the rest of the committee. “The volume and quality of Abbvie’s responses are inconsistent with the expected recordkeeping and decision-making processes of a large multinational corporation regarding two of its most profitable drugs.” The response also is “particularly poor” compared with the documents produced by other drug companies targeted in the probe, Maloney added. The committee, in January 2019, opened theinvestigationinto the pricing practices of 12 drug companies that sell 19 of the most expensive medications in the U.S. The committee has requested information from Abbvie on its pricing of arthritis drug Humira (adalimumab), which generated more than $19.2 billion in net revenues last year, and Imbruvica (ibrutinib), a lymphoma drug that had net revenues of more than $4.6 billion.