Drug CEOs defend high prices to Senate panel

Big pharma defends rising cost of drugs, lawmakers say they are gaming the system.
1:44 | 02/26/19

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Transcript for Drug CEOs defend high prices to Senate panel
The world's biggest drug makers are in the hot seat on Capitol Hill farm and executives. Views that are here today. Are here. The ways you've been doing business it's unacceptable. For the first time Republican and democratic senators grilled sending top pharmaceutical executives. On the soaring price of prescription indeed that it's morally repugnant and healing. Patient a fourth to choose between filling next prescription. Putting food on cable because they can't afford both. Executives acknowledged the challenges. Medicines can't make a difference if the patients who need them can't afford them. We understand the concerns about the cost of health care. But say that high cost support research for those lifesaving drugs and warned that heavy handed regulation would bat player. Crippling research on ailments that are the hardest to treat alzheimer's disease and cancer. The system itself is complex and it has entered depended. And no one company can unilaterally lower list prices. Without running into financial and operating disadvantages that make it impossible to do that. The lawmakers are rejecting the idea that others notably I think. You know and others in the industry are stonewalling. On the key issue which is actually lowering lift prices. President trump has repeatedly gone after pharmaceutical companies and many experts say that today's very public hearing as a sign that both congress and the White House are moving towards passing some form of legislation against rising drug costs sometime this year. I Kimberly in the C news New York.

This transcript has been automatically generated and may not be 100% accurate.

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