CSRxP Statement on President Trump’s Meeting With Big Pharma Executives Today
The Campaign for Sustainable Rx Pricing released the following statement attributable to CSRxP spokesman Will Holley:
“As Len Schleifer, the CEO of Regeneron and a participant in today’s meeting, said in December: ‘we, as an industry, have used price increases to cover up the gaps in innovation. That’s just a fact.’
“Dr. Schleifer is right. 100% of Big Pharma’s earnings growth in 2016 came from price hikes rather than innovation. It is time for Congress and the Administration to act on President Trump’s call to ‘work to bring down the artificially high price of prescription drugs.’
“Transparency is one of the keys to market-based reforms that will lead to lower prices and ensure that taxpayers receive a real return on their investment. Manufacturers should be required to disclose research and development costs for drugs, including the portion of research funded by the manufacturer versus research funded by the National Institutes of Health and other academic entities.”
The Campaign for Sustainable Rx Pricing recently launched a national campaign to raise awareness about the root causes of the prescription drug price crisis in the United States, with the introductory spot, “PriceGougi$ol,” running nationwide. More about the newly-launched campaign, as well as additional market-based proposals for fixing the broken prescription drug market, can be found here.