The Campaign for Sustainable Rx Pricing (CSRxP) has announced its endorsement of the Fair Accountability and Innovative Research (FAIR) Drug Pricing Act. The bipartisan legislation introduced today in the United States Senate by Sen. John McCain (R-AZ) and Sen. Tammy Baldwin (D-WI) and in the U.S. House of Representatives by Rep. Jan Schakowsky (D-IL) would provide more information to patients and taxpayers about rising prescription drug prices.
The legislation would require prescription drug companies to disclose price hikes over 10 percent and provide evidence behind the increases, including making available research and development costs and spending on marketing and advertising.
“For the millions of Americans who depend on life-saving medicines, open and honest prescription drug pricing is critical,” said John Rother, executive director for the Campaign for Sustainable Rx Pricing (CSRxP). “This bipartisan solution will give patients and taxpayers more information when drug corporations raise prices. It is an important first step toward fixing America’s broken prescription drug market.”
CSRxP’s diverse membership includes hospitals, physicians, pharmacists, nurses, health plans, patients, and employers who have come together to advocate for greater transparency, competition, and value in the prescription drug market.
“Americans are demanding solutions for rising drug prices and lawmakers are listening,” Rother continued. “It is going to take a bipartisan effort to put prescription drug prices on a more sustainable path forward for all Americans, and I applaud Senators McCain and Baldwin and Congresswoman Schakowsky for working across the aisle to put American families first.”
CSRxP has also endorsed the bipartisan CREATES Act which would close a loophole that allows some brand-named drugs to keep generic competitors off the market.