CSRxP APPLAUDS GROWING BIPARTISAN MOMENTUM TO LOWER PRESCRIPTION DRUG PRICES FOR AMERICAN CONSUMERS BY FOSTERING GREATER COMPETITION

Both Chambers of Congress and Lawmakers in Both Parties Advance Market-Based Solutions to Hold Big Pharma Accountable for Anti-Competitive Tactics That Keep Drug Prices High

Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released the following statement on the growing bipartisan momentum and activity in Congress in support of market-based solutions to lower prescription drug prices for American consumers by fostering greater competition.

“CSRxP applauds lawmakers in both chambers and both parties for rightly recognizing Big Pharma’s egregious anti-competitive practices are the root cause of high prescription drug prices in America and advancing market-based solutions to lower drug prices by fostering greater competition from more affordable alternatives to high-priced brand name drugs,” said CSRxP executive director Lauren Aronson. “For far too long, brand name drug manufacturers have gamed the system to block competition, extend monopolies and keep prescription drug prices high at the expense of patients, taxpayers and the entire U.S. health care system.”

“We encourage Members of Congress to capitalize on the growing momentum for bipartisan, market-based solutions to promote competition to effectively lower drug prices by swiftly passing the solutions advanced in recent weeks into law,” Aronson continued.

On Tuesday, the U.S. House of Representatives Committee on Energy and Commerce advanced the Biosimilar Red Tape Elimination Act (H.R. 5526) and the Expedited Access to Biosimilars Act (H.R. 9661). On Wednesday, the U.S. Senate Committee on Health, Education, Labor and Pensions (HELP) advanced the Expedited Access to Biosimilars Act (S.1414).

The advancement by the U.S. Senate Committee on HELP of the Expedited Access to Biosimilars Act (S.1414) builds on recent positive work by the Committee to lower prescription drug prices through greater competition. In a June 17 markup, the HELP Committee advanced Senate versions of the Biosimilar Red Tape Elimination Act (S.1954) and the Medication Affordability and Patent Integrity Act (S.2658).

Legislative solutions advanced out of key Committee in Congress in recent weeks include:

• The Biosimilar Red Tape Elimination Act (H.R. 5526 & S.1954), which would eliminate outdated U.S. Food and Drug Administration (FDA) requirements and modernize the drug approval process to expedite biosimilar substitution and increase competition from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 Expedited Access to Biosimilars Act (H.R. 9661 & S.1414), which would eliminate costly, duplicative clinical testing requirements and modernize the FDA review process to reduce unnecessary delays, foster greater biosimilar competition and bring more affordable alternatives to high-priced brand name biologic drugs to market faster.

• 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.

The full U.S. Senate also voted this week to unanimously pass The Affordable Prescriptions for Patients Act (S.1041), also known as Cornyn-Blumenthal.

• The Affordable Prescriptions for Patients Act (S.1041), also known as Cornyn-Blumenthal, would hold Big Pharma accountable for patent thickets that block competition from more affordable alternatives and impose billions of dollars in higher drug costs on patients and the U.S. health care system each year.

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.