Drug Maker Faces Federal Probe Over High Prices

Federal prosecutors are investigating Valeant Pharmaceuticals over its decision to charge high prices for older generic drugs.

The drug maker said Wednesday that it received subpoenas from the U.S. Attorney’s Office in New York and in Massachusetts. Officials wanted documents on what type of financial support the company provides to patients and on its pricing decisions.

Valeant has been in hot water after Rep. Elijah Cummings, D-Md., and Sen. Bernie Sanders, I-Vt., questioned why it raised the price of two generic heart drugs Nitropress and Isuprel by up to 200 percent.

The Canadian drug maker also said it responded to a letter from Sen. Claire McCaskill, D-Mo., asking about the pricing decisions.