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Peter Welch

Makers of pricey prostate cancer drug Xtandi are targeted by Congress

Makers of pricey prostate cancer drug Xtandi are targeted by Congress

Shares of Medivation Inc. tumbled Tuesday after a group of lawmakers started a campaign to lower the price of a drug for advanced prostate cancer, Xtandi, which they say was developed at UCLA through taxpayer-supported research grants.

The drug is jointly marketed in the United States by San Francisco-based Medivation and its partner, Japanese drugmaker Astellas Pharma Inc. Astellas sells Xtandi outside the U.S.

In a letter to the heads of the Department of Health and Human Services and the National Institutes of Health, Reps. Lloyd Doggett (D-Texas) and Peter Welch (D-Vt.) and Democratic presidential candidate Sen. Bernie Sanders (I-Vt.) urged the agencies to step in to cut...

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