Lawmakers Reintroduce Bill to Close Loopholes Allowing Big Drug Companies to Block Competition
from More Affordable Options
The Pharmaceutical Care Management Association, PCMA, applauds Senators Maggie Hassan (D-NH) and Mike Braun (R-IN) for recently reintroducing legislation, the Prescription Drug Competition Act, which aims to encourage greater competition in the prescription drug market that is critical to helping lower costs. The bill targets potential abuses of Risk Evaluation and Mitigation Strategy (REMS) regulations “to close a loophole that Big Pharma can exploit to block competition from better alternative drugs, including generic drugs, and keep drug prices high,” according to a press release on the legislation from Senator Hassan.
“Pharmacy benefit companies believe increasing competition in the prescription drug market is the key to further lowering costs for patients. Increasing competition requires policies that prevent anti-competitive practices used to blunt competition,” PCMA stated. “Pharmacy benefit companies are committed to securing lower drug costs, and we look forward to working with policymakers to advance policies to achieve greater competition.”
Statements from Sens. Hassan and Braun
Learn more about PCMA’s public policy solutions that promote competition in the prescription drug market HERE.
PCMA is the national association representing America’s pharmacy benefit companies. Pharmacy benefit companies are working every day to secure savings, enable better health outcomes, and support access to quality prescription drug coverage for more than 275 million patients. Learn more at www.pcmanet.org