Statement from Margarida Jorge, campaign director for Lower Drug Prices Now, on reports that the Senate plans to delay the Medicare rebate rule in the infrastructure deal:
Delaying the Medicare rebate rule is a step in the right direction for patients struggling to afford their prescription medication. But preventing cost-shifting is not a substitute for real reforms that rein in drug corporations’ monopoly power to raise prices anytime they want.
Drug corporations have already raised the price of over 1,100 prescription medicines this year, even as COVID rages and millions continue to struggle with access and affordability. Democrats must follow through on their promises to hold the drug corporations accountable in the reconciliation package by enabling Medicare to directly negotiate lower prices, capping out of pocket costs for beneficiaries, and stopping Pharma from increasing prices faster than the rate of inflation. These reforms would make medicines more affordable for patients, employers and Medicare, while saving taxpayers more than $450 billion.
Reconciliation is a once-in-a-generation opportunity to take significant action on drug pricing reform. Americans are counting on Congress and President Biden to deliver.