Aug 16, 2022

Biden Administration and Congress Deliver Positive Progress on Longstanding Commitments to Lower Prescription Drug Prices

Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released a statement Tuesday in response to President Biden signing H.R. 5376, the Inflation Reduction Act of 2022, into law.

CSRxP applauds President Biden for maintaining his commitment to lowering prescription drug prices and working with Congressional leaders to deliver this major step toward holding Big Pharma accountable,” said CSRxP executive director Lauren Aronson.CSRxP has been a longstanding advocate for several of the solutions signed into law today, including keeping Big Pharma’s price increases below the rate of inflation and providing relief for seniors struggling to afford their medications.”

“Big Pharma spent hundreds of millions of dollars opposing these solutions while continuing to engage in egregious pricing practices, including hiking prices on more than 100 brand name drugs last month, proving the pharmaceutical industry will always put profits over people,” Aronson added. We look forward to working with the administration and Members of Congress, on both sides of the aisle, to build on this positive progress with additional market-based solutions to hold Big Pharma accountable and deliver competition, choice and lower costs for consumers.”

Read CSRxP’s statement on the U.S House and U.S. Senate passage of the Inflation Reduction Act of 2022 HERE and HERE.

Read more on CSRxP’s longstanding support for drug pricing solutions included in the Inflation Reduction Act of 2022 — and their history of bipartisan support — HERE and HERE.

Read more on why Big Pharma’s latest round of advertising opposing drug pricing solutions doesn’t hold up to scrutiny HERE.

Read about Big Pharma’s most recent major round of price hikes, including more than 100 increases on brand name drugs in the first week of July 2022 HERE.

Read more about Big Pharma’s latest round of earnings reports that topped Wall Street analysts’ expectations after continued price-gouging HERE.

Learn more about solutions to hold Big Pharma accountable and lower prescription drug prices HERE.