CSRxP ENCOURAGES HELP COMMITTEE TO HIGHLIGHT BIG PHARMA’S EGREGIOUS PRICING AND ANTI-COMPETITIVE PRACTICES IN HEARING ON HEALTH CARE AFFORDABILITY

Lawmakers Can Build on Track Record of Bipartisan Collaboration by Advancing Market-Based Solutions to Foster Greater Competition from Alternatives to High-Priced Brand Name Drugs

Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) issued the following statement ahead of a hearing on Thursday titled “Making Health Care Affordable: Solutions to Lower Costs and Empower Patients” before the U.S. Senate Committee on Health, Education, Labor and Pensions (HELP).

“Big Pharma’s egregious pricing practices and anti-competitive tactics are the root cause of out-of-control drug prices that impact the affordability and sustainability of the entire U.S. health care system,” said CSRxP executive director Lauren Aronson. “As the Committee meets to discuss health care affordability in America, we encourage lawmakers to discuss bipartisan, market-based solutions to lower prescription drug prices by fostering greater competition from more affordable alternatives to high-priced brand name drugs.”

“CSRxP appreciates the Committee’s bipartisan work on reforms to FDA Q1/Q2 sameness requirements exploited by Big Pharma to extend monopolies,” Aronson added. “The Committee can build on this track record of bipartisan collaboration by advancing additional market-based solutions to boost competition, including The Biosimilar Red Tape Elimination Act and The Medication Affordability and Patent Integrity Act.”

The Biosimilar Red Tape Elimination Act (S.1954), reintroduced in June by Senators Lee (R-UT), Paul (R-KY), Hassan (D-NH) and Luján (D-NM), would eliminate outdated U.S. Food and Drug Administration (FDA) requirements to expedite biosimilar substitution and increase competition from more affordable alternatives to high-priced brand name products.

The Medication Affordability and Patent Integrity Act (S. 2780), introduced last Congress by Senators Hassan (D-NH) and Braun (R-IN), would help improve coordination between the U.S. Patent and Trademark Office (USPTO) and the FDA to improve patent quality and accelerate access to more affordable generics.

Read more on Q1/Q2 reforms HERE.

Read more about how biosimilar competition lowers prescription drug prices HERE.

Read more on how Big Pharma’s patent abuse is the root cause of high prescription drug prices HERE.

Read more on bipartisan, market-based solutions to hold Big Pharma accountable HERE.