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Pharma CEOs Head to Washington as Drug-Cost Blame Escalates

  • Lawmakers from both parties may resist those efforts Tuesday
  • Finance Committee to grill execs from seven pharma companies
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Pharmaceutical executives looking to blame drug-plan middlemen for rising prescription costs at a Senate committee hearing next week will be greeted skeptically by lawmakers, said people familiar with the panel’s preparations.

Senior officials from seven pharmaceutical giants are scheduled to appear before the Senate Finance Committee on Tuesday to discuss soaring drug prices, which have become a lightning rod in Washington. Drug companies have long pinned climbing prescription costs on rebates that pharmacy-benefit managers negotiate when agreeing to cover certain medicines.