Congressional Scrutiny Alone Is Not Enough to Lower Prescription Drug Prices

Nov 17, 2016

New Report: Congressional Scrutiny Alone Is Not Enough
to Lower Prescription Drug Prices

A new AP report out today shows Congressional hearings and subpoenas alone are not enough to lower prescription drug prices for medications under scrutiny.

As reported, “AP counted 29 drugs that were specifically mentioned either in letters from lawmakers or during congressional hearings. The list prices of 22 of those drugs did not change at all. Five fell, and two went up. Those that fell were generic drugs that received little public attention.”

“Voters expect Congress to take meaningful action to lower prescription drug prices,” said John Rother, executive director of the Campaign for Sustainable Rx Pricing (CSRxP), pointing to both this new report and the overwhelming support of both Republican and Democratic voters for action to lower prices. “The newly-elected Congress has a mandate to pass market-based solutions, such as legislation that would give patients more choices in their medications. Lowering drug prices is the number one healthcare issue for voters — and elected officials are going to continue to hear from their constituents until drug prices are more affordable.”

A recent Kaiser Family Foundation poll shows Republican and Democrat voters agree that the most important healthcare priority for a new president and Congress is making prescription drugs affordable for those that need them. Ranking a close second and also with bipartisan agreement is the need for government to take action to lower drug prices.

CSRxP has endorsed two bipartisan bills in Congress: the FAIR Drug Pricing Act which would provide more information to patients and taxpayers about rising prescription drug prices, and the CREATES Act which would close a loophole some brand-named drugs use to keep generic competitors off the market.