Lawmakers accused drugmaker Valeant Pharmaceuticals of gouging patients to reward Wall Street investors at a hearing Wednesday focused on the embattled drugmaker’s pricing tactics.
The tough words from Senate Republicans and Democrats came as billionaire hedge fund manager William Ackman was set to defend the company’s business model, according to his prepared testimony.
As the hearing opened, lawmakers laid into the Canadian drugmaker’s approach to buying older, niche drugs and increasing prices.
