The Campaign for Sustainable Rx Pricing released this statement from spokesman Will Holley on today’s House Judiciary Subcommittee on Regulatory Reform, Commercial and Antitrust Law hearing on Antitrust Concerns and the FDA Approval Process:
“Out-of-control prescription drug prices are an epidemic that harm all Americans. They affect not only the patients who need access to life-saving medications, but also the job creators whose ability to offer benefits to employees is diminished by skyrocketing drug prices, as well as the taxpayers who fund the billions of dollars that the government spends on prescription drugs each year.
“There are no silver bullets in this debate, but stimulating competition from generic and biosimilar medications is a market-based solution that will create tangible relief from out-of-control prescription drug prices. Putting an end to the anticompetitive, market-distorting abuses of patient safety tools such as Risk Evaluation and Mitigations Strategies by branded manufacturers clinging to their monopoly pricing power is an excellent first step towards restoring a properly-functioning market, increasing generic and biosimilar competition, and reining in prices.
“We thank the Committee and, in particular, Representatives Marino and Cicilline, as well as Senators Leahy, Grassley, Feinstein, Klobuchar, and Lee for their leadership on this issue though the introduction of the CREATES Act, and encourage Congress to act on this important, bipartisan, bicameral legislation this year.”