CSRXP POLL: AMERICAN VOTERS OVERWHELMINGLY AGREE BIG PHARMA SHOULD SUSPEND PRICE HIKES DURING PANDEMIC

Survey Finds 83 Percent of Americans Believe Drug Companies Should Stop Price Increases, Majority More Concerned About Rx Prices as a Result of COVID-19

Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released a statement Tuesday on a new national survey, commissioned by CSRxP and conducted by Morning Consult, that found an overwhelming majority of American voters agree Big Pharma should suspend price hikes on their products while the nation continues to grapple with the impact of COVID-19. The poll also found a majority of Americans are more concerned about prescription drug prices as a result of the pandemic.

“American voters overwhelmingly agree that Big Pharma must suspend traditional summer price hikes as the nation continues to grapple with the impact of COVID-19,” said CSRxP executive director Lauren Aronson. “As the economic uncertainty caused by the pandemic increases voter concern with the affordability of prescription drugs, Big Pharma should put aside its business-as-usual approach to hiking prices on American families.”

The CSRxP survey found American voters overwhelmingly blame Big Pharma for rising prescription drug prices, believe pharmaceutical companies still put profits over people and back market-based solutions to hold drug companies accountable and lower drug prices. In addition, a vast majority of voters agree that policymakers must prevent Big Pharma from price-gouging COVID-19 treatments and vaccines in light of the billions being invested by taxpayers in their development.

“American voters still rightly hold Big Pharma accountable for rising prescription drug prices, believe the industry puts profits over people and support solutions to hold drug companies accountable,” Aronson continued. “Policymakers must respond by advancing market-based solutions to increase transparency, boost competition, prevent drug companies from profiteering off COVID-19 treatments and hold Big Pharma accountable.”

Key takeaways from the CSRxP survey include:

American Voters Overwhelmingly Agree Big Pharma Should Suspend Price Hikes.

• 83 Percent: More than 80 percent of voters believe drug companies should suspend all price increases on their products while the nation deals with the economic impact of COVID-19.
• More Than 3 in 4: More than three-quarters of Americans agree that Big Pharma should cancel biennial summer price hikes.

• 3 in 5: Three-fifths of survey respondents reported the coronavirus pandemic has made them more concerned about the affordability of prescription drugs.

• 90 Percent: 90 percent of American voters view prescription drug prices as “very important” or “somewhat important” among every issue confronting Americans.

• 84 Percent: Nearly 85 percent of survey respondents lay blame for “the rising price of prescription drugs” at the feet of pharmaceutical companies.

• Two-Thirds: Two-thirds of American voters believe Big Pharma puts profits before people, has left too many Americans unable to afford the medications they need to survive and must be held accountable now. While just 17 percent believe pharmaceutical companies are doing everything they can to innovate and develop COVID-19 treatments and that now would be the wrong time to hold the industry accountable.

• 82 to 6: More than 80 percent of voters believe policymakers must prevent pharmaceutical companies from setting unreasonably high prices and increasing those prices to boost profits after hearing taxpayers are spending billions collaborating on their development. Just six percent of voters disagree.
• 84 Percent: 84 percent of American voters agree that policymakers must ensure coronavirus medications are affordable.

• 87 Percent: Nearly 90 percent of American voters believe it’s important Congress pass solutions to hold Big Pharma accountable.
• 86 Percent: More than 85 percent of American voters feel it’s important Congress pass solutions to increase transparency.
• 72 Percent: More than 70 percent of American voters feel it’s important Congress pass solutions to increase competition in the prescription drug marketplace.

• 71 Percent: More than 70 percent of voters say it will impact their vote if Congress fails to pass legislation to lower prescription drug prices.

Read Morning Consult’s summary of the survey HERE.

Big Pharma is busting profit and revenue expectations and receiving billions of dollars in research funding from taxpayers while millions of Americans are struggling — these companies must suspend traditional summer price hikes now. Learn more on CSRxP’s “No Price Hikes” campaign and sign the petition HERE.