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Tags: jim jordan | mark meadows | elijah cummings | big pharma | drugs | ceo

Freedom Caucus to Drug CEOs: Dem Probe Data Leaks Could Hurt Stock Prices

mark meadows lean into each other to talk during a house oversight committee hearing
Reps. Mark Meadows, R-N.C., and Jim Jordan, R-Ohio (Chip Somodevilla/Getty Images)

By    |   Monday, 08 April 2019 09:15 PM EDT

House Republicans are reportedly warning drug companies that complying with a Democratic-led committee probe of drug prices could potentially hurt their stock prices.

Reps. Jim Jordan, R-Ohio, and Mark Meadows, R-N.C. — leaders of the conservative House Freedom Caucus — sent letters to CEOs of 12 drug companies, implying leaks by House Oversight Committee head Rep. Elijah Cummings, D-Md., could hurt the companies, BuzzFeed News reported.

Cummings requested information in January as part of a probe into how the industry sets prescription prices, the news outlet noted. But the conservative lawmakers warned what is being sought is sensitive data "that would likely harm the competitiveness of your company if disclosed publicly."

They accuse Cummings of "releasing cherry-picked excerpts from a highly sensitive closed-door interview" conducted in an investigation into White House security clearances.

"This is not the first time he has released sensitive information unilaterally," their letter states.

Cummings pushed back, saying about the top Republican on his committee: "Rep. Jordan is on the absolute wrong side here."

"He would rather protect drug company 'stock prices' than the interests of the American people," Cummings said in his statement, the news outlet reported.

Jordan's office argued the letter does not tell companies not to respond to Cummings' requests, but encourages their cooperation with "responsible and legitimate" oversight, BuzzFeed News reported. 

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A Democratic-led committee probe of drug prices could potentially hurt stock prices of drug companies, House Republicans are reportedly warning.
jim jordan, mark meadows, elijah cummings, big pharma, drugs, ceo
Monday, 08 April 2019 09:15 PM
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