PCMA Statement on House Judiciary Committee Vote on Drug Pricing Legislation

(Washington, D.C.) — Pharmaceutical Care Management Association President and CEO JC Scott issued the following statement on the House Judiciary Committee’s markup of H.R. 2883, the “Stop Stalling Access to Affordable Medications”; H.R. 2891, the “Preserve Access to Affordable Generics and Biosimilars Act”; H.R. 2873, the “Affordable Prescriptions for Patients Through Promoting Competition Act of 2021”; H.R. 2884, the “Affordable Prescriptions for Patients Through Improvements to Patent Litigation Act.”

“America’s pharmacy benefit managers, PBMs, applaud the House Judiciary Committee for considering a package of legislation designed to increase competition in the prescription drug marketplace. The legislation represents real bipartisan policies that can achieve lower prescription drug costs through enhanced competition, specifically by increasing the number of generics and biosimilars that compete with brand-name drugs.

“Unfortunately, some drug manufacturers use numerous anti-competitive pricing tactics and patent and product exclusivity abuses that prevent generic and biosimilar competitors from entering the market, which leads to increased spending for public and private health plan sponsors and patients.

“Creating more competition among brand-name drugs will give PBMs more leverage to further reduce costs. Increasing competition is a key component in The Critical Path Forward, the PBM industry’s recommendations for addressing prescription drug costs.”

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PCMA is the national association representing America’s pharmacy benefit managers (PBMs).  PBMs administer prescription drug plans for more than 266 million Americans who have health insurance from a variety of sponsors including:  commercial health plans, self-insured employer plans, union plans, Medicare Part D plans, the Federal Employees Health Benefits Program (FEHBP), state government employee plans, Medicaid plans, and others.