Encourages Judiciary Committee To Hold Drug Makers Accountable, Seek Solutions To Spur Competition
For Immediate Release
Contact: Jon Conradi
Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) today released a statement ahead of a Tuesday U.S. Senate Committee on the Judiciary hearing on the topic of prescription drug patents.
“Big Pharma has gamed the patent system to crowd out competition, maintain monopolies and hike prices of prescription drugs, costing American patients and taxpayers,” said CSRxP executive director Lauren Aronson. “We applaud the leaders of the Senate Judiciary Committee for focusing attention on Big Pharma’s patent abuse and encourage members of the committee to hold drug makers accountable for the industry’s anti-competitive practices.”
A series of studies conducted by the Initiative for Medicines, Access, and Knowledge (I-MAK) found over 125 patent applications were filed and 71 were granted per drug on the top 12 grossing prescription drugs in America. These patent applications aimed to block generic competitors from entering the market by an average of 38 years, nearly double the 20-year period of exclusivity intended under U.S. patent laws.
I-MAK also found:
Several bills have already been introduced in the 116th Congress taking aim at Big Pharma’s patent abuse, including the Reforming Evergreening and Manipulation that Extends Drug Years (REMEDY) Act.
“We encourage lawmakers to advance market-based solutions like the REMEDY Act, and others, that will crack down on Big Pharma’s gaming of the patent system, increase competition in the market and lower prescription drug prices for struggling American patients,” Aronson said.