Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released a statement today after the U.S. House Committee on Ways and Means advanced the Prescription Drug STAR Act at a legislative markup on Tuesday.
“We applaud members of the Ways and Means Committee for advancing this important measure to help shine light on Big Pharma’s price-gouging,” said CSRxP executive director Lauren Aronson. “The Prescription Drug STAR Act will force Big Pharma to provide justification for outrageously high prices at launch and excessive price hikes – an important step in the right direction to hold drug makers accountable.”
“There is much more that must be done to introduce greater competition into the prescription drug market, increase transparency and crack down on Big Pharma’s price-gouging,” Aronson continued. “The advancement of the Prescription Drug STAR Act is a first step in the right direction and we urge the bill to be swiftly brought to the floor for a vote by the full U.S. House.”
Leaders on the committee, of both parties, discussed the importance of measures to increase transparency and put greater focus on Big Pharma’s price-gouging and committed to bipartisan action to lower the price of prescription drugs.
Representative Richard Neal (D-MA), U.S. House Ways & Means Committee Chairman: “The STAR Act takes important steps to promote drug pricing transparency in a number of ways. First, it requires manufacturers to report on the causes of high drug prices. When a product increases more than 10 percent a year or 25 percent over three years, manufacturers must report on the cause of that increase … Transparency will make markets work better … Today’s legislation is a first good step in tackling a complicated problem.”
Representative Kevin Brady (R-TX), U.S. House Ways & Means Committee Ranking Member: “Republicans on this committee do stand ready to continue working with our Democratic colleagues to tackle drug pricing concerns and fix our healthcare system … The rising costs of drugs, medicines that patients rely on, means we need immediate and common-sense reforms … I’m thankful the Republicans and Democrats came together to start this conversation on how to tackle and lower these unacceptable costs.”
Representative Steven Horsford (D-NV): “For far too long, manufactures have not had to provide any explanation for their price hikes leaving us with a system that is simply untenantable.”
Representative Jody Arrington (R-TX): “I’m supportive, in general, of this bipartisan effort to bring the price of drugs down. Again, a whole lot more to do, and I look forward to rolling up my sleeves with you Mr. Chairman and all my colleagues on the committee.”