Revisions to Historic Trade Deal Remove Big Pharma Carveout
Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) commended the White House and lawmakers in the U.S. House for removing provisions from the U.S.-Mexico-Canada Agreement (USMCA) that were supported by Big Pharma and that would have helped brand name drug makers undermine competition and keep prices high for American patients.
“CSRxP commends the White House and lawmakers in Congress for standing up for American patients by amending the USMCA deal to support generic and biosimilar competition,” said CSRxP executive director Lauren Aronson. “At a time when one in four Americans can’t afford their medications, CSRxP applauds policymakers for working across party lines to improve this historic trade agreement by rejecting Big Pharma’s anti-competitive and price-gouging tactics.”
In a June letter to members of Congress, CSRxP detailed concerns with the provision favored by brand name drug makers.
The concerns outlined by CSRxP included provisions related to biologic exclusivity, the definition of a biologic and the scope of drug exclusivities – provisions in the original draft agreement that could hamper generic and biosimilar competition.
While applauding the revisions to USMCA, CSRxP also noted the urgency for policymakers in Washington to pass substantive drug pricing reforms before year-end.
“As the legislative year comes to a close, it’s essential policymakers work swiftly and across party lines to hold Big Pharma accountable and lower prescription drug prices by passing market-based solutions with bipartisan support into law,” Aronson added.
Read CSRxP’s June letter on USMCA HERE.
See CSRxP’s infographic detailing drug pricing reforms with significant bipartisan consensus in Congress HERE.
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