Skip to content
Subscriber Only
Politics
Economics

Trump FTC Pick Suggests Task Force to Monitor Drug Prices

  • Joe Simons tells senators he shares concerns about price hikes
  • Task force could look into possible anti-competitive conduct
Joe Simons speaks during a Senate Commerce, Science and Transportation Committee confirmation hearing in Washington, D.C. on Feb. 14, 2018.

Joe Simons speaks during a Senate Commerce, Science and Transportation Committee confirmation hearing in Washington, D.C. on Feb. 14, 2018.

Photographer: Andrew Harrer/Bloomberg
Updated on

President Donald Trump’s nominee to lead the Federal Trade Commission said he’s “very concerned” about price increases for prescription drugs and will explore forming a task force to monitor whether higher prices are due to anti-competitive conduct.

Joe Simons, a Washington antitrust lawyer, suggested creating the task force during his nomination hearing Wednesday before the Senate Committee on Commerce, Science and Transportation. He said it would enable officials to quickly investigate why increases are occurring in real time and bring enforcement actions when appropriate.