Here’s what the Biden administration is proposing: The research and innovation behind many essential, life-saving medications is primarily funded by the U.S. government – with the public’s money.
The way it works right now, pharmaceutical corporations then take the drugs that were primarily developed by public funds and force you and I to pay as much as 3 times more for the medications we need than people in other countries. But with Biden’s rule change, instead of forcing us to foot the bill for Pharma greed, the administration can “march in”, and license the medicine to another corporation that won’t rip us off.
If used properly, this won’t even require the government to step in often. The belief is that the mere possibility that the government could march in should lead to corporations preemptively lowering prices for products that we, the federal taxpayer, have helped to finance.
Biden already has a solid record of standing up to Big Pharma, so much so that Big Pharma reps have filed multiple lawsuits against the administration. For the first time, the cost of insulin is capped, Medicare is negotiating lower prices, and now the new march-in authority is using the government to help us all, instead of enriching a few greedy corporations.
As these guidelines are finalized, you’d better believe that Big Pharma lobbyists are working overtime to stop this new regulation in its tracks – and keep our pharmacy bills sky high.
That’s why it’s so important to lift our voices now in support of this action that protects our rights and access to lifesaving medications.
Let’s send a wave of public support to the Department of Commerce during their official comment period right now. Add your voice below and tell the Commerce Department “We want lower drug prices!”