Bills Would Encourage More Generic and Biosimilar Competition in the Rx Market to Help Lower Costs for Patients

(Washington, D.C.) — The Pharmaceutical Care Management Association (PCMA) released the following statement today on the reintroduction of the Affordable Prescriptions for Patients Act, along with legislation to make product-hopping an antitrust violation, by U.S. Senators John Cornyn (R-TX), Chuck Grassley (R-IA), Dick Durbin (D-IL), and Richard Blumenthal (D-CT).

“PCMA applauds the introduction of these two important bills to ensure that drug companies can no longer game the patent system to keep drug prices artificially high,” said JC Scott, president and CEO, PCMA. “Make no mistake – PBMs want and support lower list prices, more competition, and more access to generic and biosimilar options in the prescription drug market.”

Congress cannot effectively lower prescription drug costs without addressing Big Pharma’s anti-competitive practices, The Congressional Budget Office (CBO) estimates that eliminating patent thickets would save nearly $2 billion.

We look forward to working with Congress and the Administration to help deliver real prescription drug savings to America’s patients and families.

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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.