(Washington, DC) — Seven top executives from Big Pharma companies say they will not commit to lowering prices of commonly used prescription drugs. The executives did admit that they control drug prices, and one agreed that the high prices impact the poor most. The business leaders appeared before the Senate Finance Committee today. Merck CEO Kenneth Frazier said the poor end up paying the most because they pay the full list price, while others benefit from rebates. The executives said that the cause of high prices are many and it would require all the top companies and government regulators working together to lower them.
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