Statement from Margarida Jorge, head of Lower Drug Prices Now – the leading campaign fighting to lower prescription drug prices – on news that Eli Lilly will lower the cost of insulin:
This is certainly welcomed and good news. But let’s be clear, the tens of millions of Americans who can not afford their prescription medication should not have to depend on the good will of greedy corporations who have repeatedly shown they care about profits more than people to bring them relief from skyrocketing prescription costs.
Countless patients and families have fought for decades for lower insulin costs and some have even lost loved ones because of the relentless price gouging that fueled profits for corporations like Eli Lilly.
President Biden and Democrats in Congress passed the Inflation Reduction Act last year in response to patient demands, taking a historic step forward for prescription drug reform and limiting the price of insulin to $35 per month for patients in Medicare. But it is just the start. Congress should pass legislation to bring the prescription drug reforms that are saving Medicare patients and taxpayers billions to people of all ages, so that everyone can get lower drug prices – including insulin.
It’s about time that Eli Lilly and other price-gouging corporations see the writing on the wall: Americans are determined to end Big Pharma’s monopoly power to raise prices anytime they want. Patients will never stop fighting drug corporation greed until affordable medicine is guaranteed to all.
One corporation voluntarily lowering their price on one drug won’t change the system, but Congress can and it’s time for every elected leader to step up. Lawmakers in Congress have the power to stop pharmaceutical corporations from setting ridiculously high launch prices, hiking prices anytime they want on any brand-name drug, and gaming the patent system to continue inflating profits at the expense of patients’ health.
And Congress, not greedy corporations trying to redeem their tarnished reputations, should be leading the way on reforms that put patients ahead of pharmaceutical profits and that guarantee millions of Americans get affordable medicines they need to take care of themselves and their families.