CSRxP COMMENDS U.S. SENATE HELP COMMITTEE FOR PASSING BIPARTISAN, MARKET-BASED SOLUTIONS TO HOLD BIG PHARMA ACCOUNTABLE, LOWER DRUG PRICES

Committee Markup Advances Solutions to Crack Down on Big Pharma’s Patent Abuse and Lower Prescription Drug Prices by Fostering Greater Competition

Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released the following statement on the advancement of two bipartisan, market-based solutions that will lower prescription drug prices by fostering greater competition during a markup Wednesday in the U.S. Senate Committee on Health, Education, Labor and Pensions (HELP). The Committee advanced the Biosimilar Red Tape Elimination Act (S. 1954) and the Medication Affordability and Patent Integrity Act (S. 2658).

“CSRxP applauds members of the Committee for demonstrating their commitment to lowering prescription drug prices for the American people by fostering greater competition from more affordable alternatives,” said CSRxP executive director Lauren Aronson. “Big Pharma games the system to block and delay competition, extend monopoly pricing, and keep Americans locked into paying out-of-control drug prices. These solutions would help deliver effective relief and should be swiftly passed by the full Senate and the U.S. House.”

“CSRxP looks forward to working with members of the committee, the full Congress, as well as the administration, to pass these, and additional solutions into law to further crack down on Big Pharma’s patent abuse and lower prescription drug prices for American patients,” Aronson continued.

The solutions advanced by the committee today include:

• The Biosimilar Red Tape Elimination Act (S. 1954), which would eliminate outdated U.S. Food and Drug Administration (FDA) requirements and modernize the drug approval process to expedite biosimilar substitution and increase competition from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. 2658), which would strengthen coordination between the U.S. Patent and Trademark Office (USPTO) and FDA by requiring more consistent information across agencies, helping improve patent quality, reduce Big Pharma abuse of the patent system and prevent costly delays in the availability of more affordable generics.

Read more on how Big Pharma games the system to block competition and keep drug prices high HERE.

Read more about how generic and biosimilar competition lower out-of-pocket costs for patients HERE.

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