Congress to probe pharma price hikes

Valeant Pharmaceuticals International and Turing Pharmaceuticals are the focus of two probes in Congress seeking to examine why the companies raised the prices of medications sharply after acquiring them.

In the House, Democrats are pushing for a vote to subpoena the chief executive officers of both drug makers to hand over documents on price increases.

The US Senate’s Special Committee on Ageing, meanwhile, will investigate drug pricing practices by Valeant, Turing and two others.