• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
Leadership

Hillary Clinton Says You Won’t See Price Hikes On Life-Saving Drugs if She’s Elected

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
September 2, 2016, 8:52 AM ET
Democratic Presidential candidate and former U.S. Secretary of State Hillary Clinton Campaigns In Iowa
Photograph by Scott Olson — Getty Images
Add Fortune on Google for similar content.

Hillary Clinton said on Friday that if elected to the White House, she would create an oversight panel to protect U.S. consumers from price hikes on life-saving drugs and import alternative treatments if necessary.

Clinton, the Democratic presidential nominee, will seek to give the panel an “aggressive new set of enforcement tools,” including the ability to levy fines and impose penalties on manufacturers when there has been an “unjustified, outlier price increase” on a long-available drug, her campaign said.

“Over the past year, we’ve seen far too many examples of drug companies raising prices excessively for long-standing, life-saving treatments with little or no new innovation or R&D,” Clinton said in a statement.

If Clinton defeats Republican Donald Trump in the Nov. 8 election, she will need the support of the U.S. Congress to implement key measures she has proposed, such as levying fines on manufacturers responsible for unjustified price hikes.

Lawmakers have in the past resisted efforts to introduce controls on pharmaceutical prices.

But Clinton’s campaign cited Turing Pharmaceuticals LLC raising the price of the AIDS drug pyrimethamine and Mylan’s recent move to increase the cost of EpiPen for severe allergy sufferers as “troubling” examples of price hikes that have attracted scrutiny from Republican lawmakers as well as Democrats.

Drugmakers have insisted that lowering or limiting drug prices will hamper their ability to invest in research and lead to fewer new therapies.

Dr. Peter Bach, the director of a nonpartisan health policy research group at New York’s Memorial Sloan Kettering, said Clinton’s announcement was a “flag” for drug manufacturers that her administration would notice and respond to steep price hikes.

“It’s a response to the broader industry phenomenon of generating added profits by raising the price of drugs for which there is no competition,” Bach said, saying the campaign was focusing on a “sub category” of manufacturers that had not invested heavily in developing the drug.

 

Bach said he was contacted by the Clinton campaign about his work on drug pricing but had not advised the campaign in a formal capacity.

‘Bold Idea’

The oversight panel would be made up of representatives from existing public health and consumer protection agencies who convene to examine the scope of a drug increase, the manufacturer’s production cost and the treatment’s relative value to patients and public health, Clinton’s campaign said.

In cases where a determined unjustified price hike is accompanied by insufficient market competition, Clinton’s administration would intervene to purchase alternative drugs from comparably regulated markets or assist manufacturers in bringing the product to market in the United States.

Dr. Aaron Kesselheim, an associate professor at Harvard Medical School, called it a “bold idea” to get the federal government “involved in helping stabilizing some of these generic drug markets.”

Until recently, there was a lengthy wait for generic drug approval by the U.S. Food and Drug Administration. Although the time line has shortened, there is often not enough consistent demand for manufacturers to enter the U.S. market, Kesselheim said.

“Having the government get involved as a long-term purchaser of these products creates a stockpile to stabilize the market,” Kesselheim said.

Kesselheim has testified before Congress about high-cost generic and long-available drugs and spoke to Clinton’s campaign about his research as it developed its proposals.

About the Author
By Reuters
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Leadership

cpk
SuccessBook Excerpt
The California Pizza Kitchen story: how two lawyers quit the courtroom to reinvent restaurants
By Rick RosenfieldJuly 21, 2026
15 minutes ago
k
Commentarypower
What I keep hearing from Fortune 500 CEOs: ‘We have no idea what we’re actually paying for power’
By Kiran BhatrajuJuly 21, 2026
45 minutes ago
Bolt CEO Ryan Breslow
CommentaryHuman resources
The CEO who fired HR was right. About the wrong thing.
By KeyAnna SchmiedlJuly 21, 2026
45 minutes ago
Jersey Mike's Subs restaurant.
C-SuiteCFO Daily
Jersey Mike’s tests how far investors will stretch on restaurant IPO valuations
By Sheryl EstradaJuly 21, 2026
53 minutes ago
Jamie Dimon, chief executive officer of JPMorgan Chase & Co.
Economynational debt
Jamie Dimon won’t put more of his own money into the long end of the bond market right now—thanks to the $39 trillion national debt
By Eleanor PringleJuly 21, 2026
2 hours ago
ford
Commentary250 Years of Innovation
Alliance for America’s Skilled Trades: Skilled trades shaped America’s past. Here’s how they can build America’s future
By Jim Farley, Linda Hubbard, Bayo Ogunlesi and Ruth PoratJuly 21, 2026
2 hours ago

Most Popular

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
19 hours ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
23 hours ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
3 days ago
Current price of silver as of Monday, July 20, 2026
Personal Finance
Current price of silver as of Monday, July 20, 2026
By Joseph HostetlerJuly 20, 2026
1 day ago
Warren Buffett says his $147 billion investing career was an accident: ‘I may be one of the 10 luckiest in the world’
Future of Work
Warren Buffett says his $147 billion investing career was an accident: ‘I may be one of the 10 luckiest in the world’
By Sarah GlodekJuly 20, 2026
1 day ago
It’s not just Taco Bell lettuce and possible glass in Pillsbury rolls: Food and drink recall events reached a 6-year year-over-year high
Retail
It’s not just Taco Bell lettuce and possible glass in Pillsbury rolls: Food and drink recall events reached a 6-year year-over-year high
By Sasha RogelbergJuly 20, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.