CSRxP: Senate Finance Takes Positive Steps to Hold Big Pharma Accountable, Lower Drug Prices

Commends Bipartisan Collaboration on Several Market-Based Solutions, Cautions Committee Leaders Against Revival of Misguided Rebate Rule

 

 

For Immediate Release

Contact: Jon Conradi
860-235-3884
[email protected]

Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released a statement Thursday commending members of the U.S. Senate Committee on Finance for advancing a drug pricing package that contains a number of measures that will hold Big Pharma accountable and help lower prescription drug prices for American patients.

“We commend Chairman Grassley, Ranking Member Wyden and members of the committee for advancing several measures that represent positive first steps toward holding Big Pharma accountable and lowering prescription drug prices,” said CSRxP executive director Lauren Aronson. “In particular, we applaud the committee’s bipartisan work to keep the growth of prescription drug prices in line with inflation, boost list price transparency, support increased utilization of biosimilars and deliver relief for Medicare Part D beneficiaries.”

“We welcome the committee’s action to cap out-of-pocket costs for Medicare Part D beneficiaries paired with significant liability for drug makers in the catastrophic phase,” Aronson continued. “We encourage the committee to further strengthen this policy by making Big Pharma assume more catastrophic liability, as well as liability in the earlier phase of the benefit.”

“CSRxP also strongly encourages the committee to include policies that address high launch prices so that patients will have better protection against high costs for new drugs that enter the market,” Aronson added.

“We look forward to continuing to work with the chairman, ranking member and members of the committee to hold Big Pharma accountable and help lower prescription drug prices for Americans,” Aronson said.

CSRxP also raised concerns with comments from committee leaders noting they intend to consider adding measures to the package in line with a since withdrawn proposal from the Trump administration called the Rebate Rule.

“Lawmakers in Congress should not revive the misguided ideas behind the since withdrawn Rebate Rule,” Aronson said. “The administration decided to withdraw the proposal for good reason, namely that it would hike premiums on seniors, cost taxpayers nearly $200 billion and hand Big Pharma a more than $100 billion bailout.”

Read more on CSRxP’s concerns with the policies contained in the Rebate Rule HERE.

“We encourage members of the Finance Committee to stay focused on market-based solutions to hold drug makers accountable and lower prescription drug prices and not be distracted by Big Pharma’s blame game targeting rebates,” Aronson added.

This spring, CSRxP commissioned a survey that found Americans wanted policymakers in Washington to focus on measures to hold Big Pharma accountable rather than to reform rebates by a 68-point margin.

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