Senate Judiciary Committee Advances Critical Legislation to Crack Down on Brand Name Drug Companies’ Anti-Competitive Tactics that Extend Monopolies and Keep Prices High
Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released a statement Thursday following the passage of the Affordable Prescriptions for Patients Act of 2023 in the U.S. Senate Committee on the Judiciary. The bipartisan bill was introduced by Senator John Cornyn (R-TX) and Senator Richard Blumenthal (D-CT).
“CSRxP applauds Chairman Durbin, Ranking Member Graham, Senator Cornyn, Senator Blumenthal, and members of the Committee for working across party lines to advance this critical solution to hold Big Pharma accountable for egregious abuse of the patent system,” said CSRxP executive director Lauren Aronson. “We encourage the full Senate to swiftly pass this legislation that will crack down on Big Pharma’s anti-competitive tactics, like patent-thicketing and product-hopping, that extend monopolies, block more affordable alternatives and keep drug prices high.”
CSRxP has long encouraged policymakers to support bipartisan solutions to crack down on Big Pharma’s patent abuse, including supporting the Affordable Prescriptions for Patients Act during the last Congress.
Last week, CSRxP submitted two letters to the United States Patent and Trademark Office (USPTO) in response to requests for comment on efforts the agency can take to improve the U.S. patent system, increase competition from more affordable alternatives in the prescription drug market and increase collaboration with U.S. Food and Drug Administration (FDA), writing, “Both Congress and the Administration have a critical role to play in holding Big Pharma accountable for the industry’s egregious abuse of the patent system and tactics like patent-thicketing and product-hopping, that distort the market and contribute to out-of-control prices.”
Read more on CSRxP’s letters to the USPTO on efforts the agency can take to improve the U.S. patent system and crack down on Big Pharma’s patent abuses HERE.
Read more about how Big Pharma’s patent abuse blocks competition, harms consumers and contributes to ballooning taxpayer spending HERE.
Read more on why Big Pharma’s tired argument that innovation justifies their out-of-control prices doesn’t hold up to scrutiny HERE.
Read more on market-based solutions to hold Big Pharma accountable and lower prescription drug prices HERE.