Senate Drug Pricing
Here is a copy of the letter we will send to your lawmakers:
I write to you today to strongly urge you to oppose harmful drug pricing policy proposals that will only hurt American patients. While it is critical that federal lawmakers take action to address the rising cost of American healthcare, current proposals being considered would only limit patient access to the medications they need and leave hospitals unaccountable in efforts to control costs.
First, H.R. 3-style proposals would import harmful foreign programs to set and control drug prices that are proven to limit treatment access. These policies would not only limit patient access but also degrade U.S. leadership in the biotechnology sector, at a moment when U.S. companies are leading global efforts to end a pandemic. Upending the market-based system patients count on to spur innovation and the development of new treatments for rare and chronic conditions is NOT the path that Congress should pursue.
Second, it has been shown that Medicare price negotiation will result in fewer new, innovative medicines coming to market over time. Several proposals in front of Congress could give the government unprecedented power to set the price of drugs to the detriment to patients, leaving them with fewer and less effective treatment options.
Third, current proposals do little to address the rising cost of hospital care in the U.S. or require hospitals to pay their fair share. Hospitals account for a majority of U.S. healthcare spending today and have the unwieldy power to mark-up prescription drug prices at significant rates – sometimes 5 to 10 times the actual cost. Hospitals profit with limited accountability to address costs across the system. I encourage you to work with your colleagues on the Hill to enact policies that ensure hospitals are held accountable for pricing practices and increase transparency regarding hospital pricing decisions. If hospitals don’t adhere to regulations, they should face appropriate penalties.
I urge you to vote NO on any drug pricing proposal that will deter patient access to lifesaving treatments and stifle American innovation. Congress is right to take action to improve patient affordability, but the options on the table do not represent the right way forward. I appreciate your dedicated efforts to stand with patients on these issues.