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The committee began probing into pharmaceutical industry pricing practices last year and had sought information from 12 drugmakers on price increases, corporate strategies to preserve market share and pricing power.
“After more than 18 months, AbbVie has demonstrated its unwillingness to comply voluntarily with the Committee’s investigation,” Representative Carolyn Maloney, the Chairwoman of the committee, wrote in a memo https://oversight.house.gov/sites/democrats.oversight.house.gov/files/documents/2020-09-01%20AbbVie%20Subpoena%20Memo.pdf.
“Although most of the drug companies we are examining have cooperated with the committee’s investigation, AbbVie’s noncompliance stands out as particularly egregious, which is why I am issuing this subpoena.”
AbbVie did not immediately respond to Reuters request for comment.
Shares of the drugmaker fell nearly 3% to $93.10 on Tuesday.
