As Secretary Azar Heads To Capitol Hill, CSRxP Encourages Lawmakers To Question Budget-Busting $200 Billion Rebate Rule
Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released a statement Monday ahead of U.S. Department of Health and Human Services Secretary Alex Azar testifying Tuesday on the president’s budget and drug pricing before the U.S. House Committee on Energy & Commerce Subcommittee on Health:
“We applaud President Trump and Secretary Azar’s commitment to lowering the price of prescription drugs and are glad to support the administration’s market-based proposals, including bringing more generics and biosimilars to market and requiring drug companies to disclose list prices in their direct-to-consumer (DTC) advertising. We agree that boosting competition and increasing transparency are critical to holding Big Pharma accountable and lowering out-of-control drug prices.”
“However, the administration’s recently proposed Rebate Rule is a step in the wrong direction because it hurts patients, seniors and taxpayers – while padding the bottom line of the pharmaceutical industry. According to the government’s own analysts, the proposed rule will raise premiums for seniors by 25 percent and cost taxpayers nearly $200 billion over the next decade. In addition, the proposed rule would give Big Pharma a $100 billion bailout in the form of new profits. The American people need reforms that crack down on brand name drug makers’ anti-competitive practices and price gouging – not that reward them with higher profits and more power over pricing in the supply chain.”
“On Tuesday, we encourage members of the House Energy and Commerce Subcommittee on Health to challenge this proposal and question its negative effects on seniors, patients and taxpayers in the hearing with Secretary Azar. Since the hearing is focused on the president’s proposed budget, we especially encourage lawmakers to question how taxpayers can be asked to cover $200 billion in new federal spending in order to boost the profit margins enjoyed by big pharmaceutical manufacturers.”
“CSRxP remains committed to working with the administration and Congress to enact bipartisan, market-based solutions that hold Big Pharma accountable and put patients first.”