CSRxP ENCOURAGES HELP COMMITTEE TO ADVANCE BIPARTISAN, MARKET-BASED SOLUTIONS TO LOWER DRUG PRICES BY FOSTERING GREATER COMPETITION

Lawmakers Should Advance Biosimilar Red Tape Elimination Act, Medication Affordability and Patent Integrity Act and Ensuring Timely Access to Generics Act to Hold Big Pharma Accountable for Egregious Anti-Competitive Tactics That Keep Drug Prices High

Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released the following statement ahead of a markup on Wednesday in the U.S. Senate Committee on Health, Education, Labor and Pensions (HELP). The Committee is expected to discuss several bills including the Biosimilar Red Tape Elimination Act (S. 1954), the Medication Affordability and Patent Integrity Act (S. 2658) and the Ensuring Timely Access to Generics Act (S. 3014).

“For decades, Big Pharma has gamed the system to block competition from more affordable alternatives to high-priced brand name drugs, maintain monopoly pricing on their biggest blockbuster products and keep prescription drug prices high for American patients, taxpayers and the U.S. health care system,” said CSRxP executive director Lauren Aronson. “CSRxP encourages HELP Committee lawmakers to see through Big Pharma’s debunked innovation rhetoric, which the industry routinely wields to deflect blame for high prices, and instead advance bipartisan, market-based solutions to effectively lower drug prices for consumers, including the Biosimilar Red Tape Elimination Act, the Medication Affordability and Patent Integrity Act and the Ensuring Timely Access to Generics Act.”

“These solutions would help crack down on Big Pharma’s egregious abuse of the U.S. patent system, encourage greater competition from more affordable alternatives, like generics and biosimilars, and increase coordination between government agencies to close loopholes brand name drug companies exploit to extend monopoly pricing,” Aronson continued. “CSRxP welcomes the opportunity to work with members of the Committee, and the Administration, to pursue these solutions, and additional measures, to crack down on Big Pharma’s egregious anti-competitive tactics and out-of-control pricing practices, which are the root cause of high prescription drug prices in the U.S.”

• The Biosimilar Red Tape Elimination Act (S. 1954) would eliminate outdated U.S. Food and Drug Administration (FDA) requirements and modernize the drug approval process to expedite biosimilar substitution and increase competition from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 Medication Affordability and Patent Integrity Act (S. 2658) 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 Ensuring Timely Access to Generics Act (S. 3014) would improve oversight of the citizen petition process at the FDA, ensuring drugmakers can’t game the system to stall generic competition and patients can benefit from lower-cost alternatives sooner.

Read CSRxP’s letter to the HELP Committee ahead of the markup HERE.

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 how Big Pharma’s innovation rhetoric doesn’t hold up to scrutiny HERE.

Read more on bipartisan, market-based solutions to hold Big Pharma accountable HERE.