CSRxP ENCOURAGES U.S. HOUSE ENERGY & COMMERCE COMMITTEE TO ADVANCE BIPARTISAN SOLUTIONS TO PROMOTE BIOSIMILAR COMPETITION, LOWER DRUG PRICES

Lawmakers Can Bring More Affordable Alternatives for American Consumers to Market, More Quickly, By Passing Bipartisan Solutions to Cut Red Tape

Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released the following statement ahead of a markup on Monday in the U.S. House Committee on Energy & Commerce (E&C). The Committee is expected to consider the Biosimilar Red Tape Elimination Act (H.R. 5526) and the Expedited Access to Biosimilars Act (H.R. 9661).

“Promoting greater biosimilar competition to Big Pharma’s high-priced biologic brand name drugs is critical to effectively lower prescription drug prices for American consumers,” said CSRxP executive director Lauren Aronson. “Unnecessary regulatory barriers continue to delay biosimilar competition and make it easier for Big Pharma to maintain and extend monopoly pricing on blockbuster products, keeping Americans locked into paying high prices.”

“The Biosimilar Red Tape Elimination Act and the Expedited Access to Biosimilars Act are bipartisan, market-based solutions that would modernize the drug approval process, remove unnecessary barriers to competition and help bring more affordable alternatives to high-priced brand name drugs to market faster,” Aronson continued. “At a time when Big Pharma continues to game the system to extend exclusivity, Congress should advance solutions that will help lower drug prices by fostering greater competition. CSRxP encourages members of the House Energy & Commerce Committee to advance these bipartisan solutions.”

• The Biosimilar Red Tape Elimination Act (H.R. 5526) would eliminate outdated U.S. Food and Drug Administration (FDA) requirements and modernize the drug approval process to expedite biosimilar substitution and increase competition from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 Expedited Access to Biosimilars Act (H.R. 9661) would eliminate costly, duplicative clinical testing requirements and modernize the FDA review process to reduce unnecessary delays, foster greater biosimilar competition and bring more affordable alternatives to high-priced brand name biologic drugs to market faster.

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