Insulin inquiry sought as Congress opens drug price hearings

WASHINGTON (AP) — A senior Republican lawmaker says the cost of insulin is “unacceptable” and he plans to investigate.

Senate Finance Committee Chairman Charles Grassley of Iowa released a statement Tuesday as Congress opened hearings on high U.S. prescription drug prices and how the government might put the brakes on them.

Grassley says he’s heard stories of people reducing their insulin doses to save money and vows to “get to the bottom of the insulin price problem.”

The pharmaceutical industry says price spikes of recent years have stabilized, but it’s facing increasing opposition, with President Donald Trump, congressional Democrats and now Grassley promising to act but with differing approaches.

The Finance Committee hearing on drug prices was to be followed by one in another panel, the House Oversight and Reform Committee.