AARP Teams with Senator Leahy to Lower the Costs of Prescription Drugs

rrocio

For far too long, Americans have struggled to cope with the rising costs of prescription drugs.  And when brand name companies can drive up the price of drugs by using predatory practices, we all suffer.  Illnesses get worse.  Families, government programs, and other payers in the healthcare system ultimately bear those added, unnecessary costs.

The problem of rising drugs costs is only getting worse.  Last year, Americans learned of the unconscionable price hike by Turing of their drug for HIV patients.  New owners of that company increased the price of their medicine from $13.50 to $750 per pill overnight, an increase of 5,000 percent.

Meanwhile, other brand-name drug manufacturers have engaged in tactics to delay the development of generic alternatives that would help to bring down the cost of prescription drugs.  It is no wonder that hardworking American families feel like the system is rigged against them by corporations that are looking to make a profit.

Consumers deserve far better, particularly when it comes to finding affordable treatment for our seniors and those with life-threatening illnesses.  One place to start is by making medications more affordable and ensuring generic alternatives are available.

Working alongside consumer groups like the AARP, I recently introduced the Creating and Restoring Equal Access to Equivalent Samples (“CREATES”) Act.  This bipartisan bill targets anti-competitive behavior that drives prices up, such as when companies withhold drug samples from generic manufacturers to create less expensive alternatives.  The bill also targets the behavior of some brand-name companies that refuse to negotiate a shared safety protocol with potential generic competitors, a tactic that undermines the FDA approval process for cheaper drugs.

The CREATES Act creates a sensible, efficient way for generic drug manufacturers to address these delays without jeopardizing patient safety or creating lengthy battles in the courts.  Pharmaceutical companies should be compensated for their important work developing lifesaving treatments.  This legislation is not a silver bullet to address all of the complex problems driving the high costs of medications.  But when companies engage in predatory practices at the expense of our most vulnerable consumers, that is harmful, that is wrong, and we must act.