Statement from Margarida Jorge, campaign director for Lower Drug Prices Now, on the Senate Finance Committee’s Principles for Drug Pricing Reform:
“The principles for drug pricing reform released by the Senate Finance Committee are a big step in the right direction and demonstrate that Chairman Wyden plans to prioritize patients, not drug corporation profits in the upcoming policy debate. These principles are the very opposite of what Big Pharma wants to see from lawmakers in Washington, so we expect the industry to escalate their attacks to try and stall reform with more false claims and scare tactics.
Like HR3 in the House, the Senate Finance Committee principles would lower drug prices through negotiations, extend lower prices to as many people as possible, and finally hold pharmaceutical corporations accountable for setting and raising drug prices much higher than the rate of inflation, thereby denying millions of Americans affordable access to medicines they need. Enabling Medicare to negotiate drug prices is one of the most significant things we can do to make medicines affordable for patients and taxpayers, and must be part of any drug price reform. Similarly, lowering out-of-pocket costs and reining in drug corporations’ monopoly power to price-gouge through patent reforms referenced in the principles are critical features of reform.
Now Congress must get to work to lower drug prices. Patients have waited long enough. Drug price reform can’t be put off to some later date, it must be included in the next reconciliation package as part of the ‘Build Back Better’ plan.”