(Washington, D.C.) — The Pharmaceutical Care Management Association (PCMA) today released the following statement on the “Anticompetitive Conduct by Pharmaceutical Companies Impeding Generic or Biosimilar Competition” listening session, held jointly by the Federal Trade Commission (FTC), Department of Justice (DOJ), Department of Health and Human Services (HHS), and the Department of Commerce (DOC).

“We applaud the announcement by FTC Chairman Andrew Ferguson and Assistant Attorney General Gail Slater of the DOJ Antitrust Division to host a series of listening sessions focused on lowering prescription drug costs for Americans.

“Today’s session, ‘Anticompetitive Conduct by Pharmaceutical Companies Impeding Generic or Biosimilar Competition,’ should provide an opportunity to learn more about some drug companies’ egregious abuse of the patent system. There is irrefutable evidence of some drug companies repeatedly abusing the patent system to block competition by keeping more affordable alternatives from entering the marketplace. Blatant misuse of the patent system allows those companies to keep drug prices high and maintain higher profit margins at the expense of patients.

“Increasing competition is a proven way to lower prescription drug costs. Stopping patent abuse will allow pharmacy benefit managers (PBMs) to more effectively leverage competition and further reduce drug costs for health plan sponsors and patients.”

PBMs support reforming patent laws and regulations to accelerate competition and to lower prices, including:

• The Affordable Prescriptions for Patients Act, which would ensure that drug companies can no longer game the patent system to keep drug prices artificially high.
• The Biosimilar Red Tape Elimination Act, which would promote the biosimilar market and improve access to more affordable alternatives to brand name prescription drugs, which is often hindered by patent abuse.
• Legislation that would ensure market exclusivity is used to incentivize innovative drug research and capped at the interval at which Congress deemed appropriate.
• Regulatory reforms that would encourage true innovation and increase competitor products to promote affordable access and lower-cost drugs for patients. PCMA recently submitted recommendations to the FTC outlining specific regulatory reforms.

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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 289 million patients.