Drug Pricing Investigation: Celgene and Bristol Myers Squibb--Revlimid

Publication

Drug Pricing Investigation: Celgene and Bristol Myers Squibb--Revlimid

House Committee on Oversight and Reform

Abstract

The Committee on Oversight and Reform examines the pricing practices of Celgene Corporation and Bristol Myers Squibb Company concerning Revlimid, a vital drug for treating multiple myeloma and various cancers. The report, based on over 50,000 pages of internal communications from 2009 to the present, primarily focuses on Celgene's pricing practices before its acquisition by Bristol Myers Squibb and provides insights into Bristol Myers Squibb's post-acquisition increases. The report underscores the need for structural reforms, such as Medicare negotiation, to address the ongoing issue of escalating drug prices, making critical medications unaffordable for many Americans.