Hearings on 'sky-high' drug prices show how little has changed in 60 years

CNN Money

25 February 2019 - Kenneth Frazier, CEO of pharma giant Merck, is set to face senators Tuesday who say drug costs are "sky-high" and "out of control."

But Frazier doesn't need new talking points. Sixty years ago, a different panel of senators grilled a different Merck boss about the same problem.

To a striking degree, the subjects likely to surface Tuesday -- high drug prices and profits, limited price transparency, aggressive marketing, alleged patent abuse and mediocre, "me-too" drugs -- are identical to the issues senators investigated decades ago, historical transcripts show.

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Michael Wonder

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Michael Wonder