Jun 2, 2017

Pfizer hikes drug prices by 20%

Richard Drew / AP

Since January, pharmaceutical giant Pfizer has raised the list prices of 91 drugs by an average of 20%, the Financial Times reports. Pfizer made one round of price increases in January, and another just went into effect. The list price does not factor in rebates or discounts, but Pfizer's increases are still far beyond the rate of economic inflation.

Why it matters: Politicians and consumers have ripped into the drug industry and have strongly supported proposals to lower drug costs. Some companies have made pledges to limit price hikes. But Pfizer's decision indicates public pressure has not forced companies to change their pricing practices, and some firms have no qualms about maintaining the status quo.

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Sanders requests recount of Iowa recanvass after results show shrunken margin

Photo: Joe Raedle/Getty Images.

Sen. Bernie Sanders said in a statement Tuesday night he will request a recount of the Iowa Democratic Party's recanvass results.

Where it stands: Both Buttigieg and Sanders requested partial recanvasses in Iowa last week after results were delayed and showed several errors following a software malfunction on caucus night.

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Energy deputy secretary nominee faces heat after contradicting Trump

Mark Menezes speaks at a forum in Addis Ababa, Ethiopia, June 12. Photo: Minasse Wondimu Hailu/Anadolu Agency/Getty Images

Trump administration officials are internally raising concerns about President Trump’s nominee for Energy deputy secretary, who appeared to openly contradict the president on nuclear waste storage at Nevada’s Yucca Mountain last week.

Driving the news: While speaking at a House Energy and Commerce subcommittee hearing last Wednesday, Mark Menezes told members of the panel that the Trump administration is still interested in storing nuclear waste at Yucca Mountain and that “what we're trying to do is to put together a process that will give us a path to permanent storage at Yucca."