Seven top pharmaceutical executives gathered today in Washington, DC, for a Senate hearing on drug prices, bringing face-to-face two groups held in the lowest esteem possible by the American public.

Top executives from seven companies—AbbVie, AstraZeneca, Bristol-Myers Squibb, Merck, Johnson & Johnson, Pfizer, and Sanofi, which represent a combined $1.1 trillion in market value—stuck to the industry’s party line: Government needs to rein in insurance companies and their middlemen, but regulating drug prices directly would be bad for pharmaceutical innovation.

By the end of the highly anticipated grilling before the Senate’s finance committee, their strategy for taking on two major… Read more »