Each day, millions of people pick up a prescription drug from their local pharmacy or mailbox. Most are affordable, with co-pays on average less than $7 for 90% of drugs. But for a growing number of patients, and the employers, unions, or programs such as Medicare that provide their drug coverage, the cost of some life-saving brand drugs is staggering.The brand drug lobby tells us these sky-high prices are a necessity of the remarkable innovation we enjoy in healthcare. And make no mistake, that innovation is important. But as a growing amount of research shows, for many drugs this is an illusion. The high prices are part of Big Pharma’s masterclass in patent loopholes and legal maneuvering. They are waging a war on generic drug competition and artificially keeping prices too high for too long for too many.Fortunately, we know exactly how to fix this crisis of unaffordability. Patients don’t have to continue suffering. But we need Congress to do something about it.
DRUG PRICE RELIEF IS WITHIN REACH — BUT ONLY IF WASHINGTON MOVES NOW
The concept here is pretty simple. When there is generic drug competition, brand drugmakers have to compete on price. Employers, government programs, and the pharmacy benefit managers they hire are able to secure better deals or simply include these lower-cost generic medicines on their formularies.
