Smoke and Mirrors
Don’t let big drug companies’ smoke and mirrors fool you: High drug costs start and end with them.
While pharmacy benefit companies are lowering costs, drug companies are busy blaming everyone in the supply chain but themselves to avoid culpability for the affordability challenge some patients face. Without more competition and accountability, big drug companies will continue to abuse the patent system and block affordable alternatives – making life-saving medications unaffordable for American families.
Big drug companies choose to set unaffordable prices for many Americans – then add insult to injury by blocking competition in the prescription drug market to maximize their profit, and drive drug costs higher at the expense of patients.
Rather than limiting choice for employers and restricting options for achieving savings, Congress should act to strengthen competition in the market, and end big drug companies’ egregious abuse of the patent system that blocks affordable alternatives – such as generics and biosimilars – from entering the prescription drug market.
Patent thickets on five of the 10 top-selling drugs in the U.S. resulted in more than $500 billion in additional sales, and patent abuse blocking biosimilars from the market alone will cost patients an estimated $30 billion over the next decade.
While big drug companies are focused on profits, pharmacy benefit companies are driving costs down and securing savings for patients, employers, and taxpayers.