New Bipartisan Legislation would Crack Down on Routine Abuse of the Drug Patent System to Keep More Affordable Alternatives Off Market
(Washington, D.C.) — The Pharmaceutical Care Management Association (PCMA) released the following statement following the introduction of legislation by U.S. Senators Peter Welch (D-VT), Mike Braun (R-IN), and Amy Klobuchar (D-MN), and a companion bill by U.S. Representatives Jodey Arrington (R-TX-19), Lloyd Doggett (D-TX-37), August Pfluger (R-TX-11), Debbie Dingell (D-MI-06), Darrell Issa (R-CA-48), and Pramila Jayapal (D-WA-07).
“We applaud and support the bipartisan, bicameral legislation to crack down on drug companies’ patent abuse. For far too long, drug companies have engaged in anti-competitive tactics that keep more affordable alternatives, such as generics and biosimilars, off the market so that they can extend their product monopolies to boost profits.
“Addressing the anti-competitive tactics egregiously and commonly used by drug companies is by far the most sure-fire way to actually reduce prescription drug costs for patients and employers.
“Make no mistake, PBMs are strong proponents of a functioning biosimilar market and are committed to removing barriers to patient and provider uptake. Bringing more biosimilars to market, over time, will allow PBMs to more effectively leverage competition to reduce drug costs for health plan sponsors and patients. More competition for biologic drugs will provide added choice and flexibility for health plan sponsors, while also considering physician and patient choice. Simply put, a more competitive marketplace for biologic medications will mean lower overall prescription drug costs and better health outcomes.
“We look forward to working with Congress to advance the legislation.”
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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. Learn more at www.pcmanet.org
