Executives expressed support for eliminating drug rebates, increasing price transparency and shifting to a more value-based pricing system.

Spending on drugs will increase only about 4.6 percent this year, compared to a 4.8 percent increase in overall health costs.

Plaintiffs contend companies are illegally raising insulin prices to provide rebates for pharmacy-benefit managers who decide which drugs get on preferred insurance lists.

Lawmakers are digging in on investigations into high drug prices, but the pharma industry does not look to be very cooperative.