CSRXP: HR3 REINTRODUCTION ADDS TO MOMENTUM FOR D.C. TO LOWER DRUG PRICES, HOLD BIG PHARMA ACCOUNTABLE

Congress and the Administration Must Act on Solutions that Have Won Bipartisan Support to Deliver Relief for American Patients and Consumers

Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released a statement today on the reintroduction of the Elijah E. Cummings Lower Drug Costs Now Act (HR3) in the U.S. House of Representatives.

“The reintroduction of HR3 adds to the momentum in Washington for Congress and the administration to deliver on campaign promises to lower prescription drug prices and hold Big Pharma accountable,” said CSRxP executive director Lauren Aronson. “Too many Americans cannot afford their medications as a result of Big Pharma’s price-gouging and anti-competitive practices.”

“Now is the time for the administration and Congress to act and advance reforms contained in HR3 that have won bipartisan support,” Aronson continued. “These include solutions to reform the Medicare Part D program to give Big Pharma significant skin in the game in the catastrophic phase of coverage, cap out-of-pocket costs for seniors and keep drug companies’ price hikes below the rate of inflation.”

Measures contained in HR3 that have won bipartisan and bicameral support include solutions to:

• Provide Immediate Savings for Seniors: Cap out-of-pocket costs for Medicare Part D beneficiaries.
• Disincentivize Price-Gouging: Reform Medicare Part D to give Big Pharma significant liability in the catastrophic phase of coverage.
• Protect Patients & Taxpayers: Keep the growth of prescription drug prices in line with inflation.
• Boost Transparency: Shine a greater light on Big Pharma’s opaque pricing practices.
• Support Competition: Offer policies to increase the utilization of biosimilars.

Learn more about market-based solutions to hold Big Pharma accountable and lower prescription drug prices HERE.