Medivation Drops Several Points After Congress Asks To Examine Xtandi Drug Price

March 29, 2016 10:18 AM | 1 min read | Make a Comment

Shares of

Medivation IncMDVN

were trading lower by more than 6 percent heading into Tuesday's market open as the company's drug pricing have come under scrutiny by the U.S. congress. According to

ABC News, a group of U.S. lawmakers initiated a campaign to potentially lower the price of Medivation's prostate cancer drug. Reps. Lloyd Dogget and Peter Welch, along with Senator Bernie Sanders are calling on the Department of Health and Human Services and the National Institutes of Health to cut prices for Medivation's drug, Xtandi. The lawmakers are arguing that the price of Xtandi is 4 times larger in the U.S. compared to the rest of the world.

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Posted In: News Cancer Drugs Department of Health and Human Services Medivation National Institutes of Health US Congress Xtandi

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Medivation Drops Several Points After Congress Asks To Examine Xtandi Drug Price