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Lloyd Doggett

Another drug company in the crosshairs of Congress

Another drug company in the crosshairs of Congress

Lawmakers again are targeting the pharmaceutical industry over sky-high prescription drug prices, a hot issue this year in Washington and on the campaign trail that's been dragging down stock prices of many drugmakers.

Shares of Medivation tumbled Tuesday after a group of lawmakers started a campaign to potentially lower the price of a drug for advanced prostate cancer, Xtandi.

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

In a letter to the heads of the Department of Health and Human Services and...

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