Good Bills
The National Committee endorses the "PRICED Act," introduced by U.S. Representatives Jan Schakowsky (IL-09), Rosa DeLauro (CT-03), Angie Craig (MN-02), Lloyd Doggett (TX-35), Raja Krishnamoorthi (IL-08) and 11 other cosponsors, which would allow generic versions of brand name biologic drugs to enter the market sooner. This would encourage competition and drive down costs. Seniors depend on drugs derived from living organisms — known as "biologics" — to treat a number of health conditions, including multiple sclerosis, asthma, arthritis and cancer. Yet for many older Americans these drugs are simply out of reach because they cost too much.
The "PRICED Act" limits "one of Big Pharma's most effective price gouging tools" by reducing the period during which drug companies have exclusive marketing rights for biologics. The legislation would cut the exclusivity period from the current twelve years to five. Such a change could save Medicare upwards of $7 billion over ten years.
Congress should pass the "PRICED Act" as soon as they return from summer recess, as well as allow Medicare to negotiate directly with drug manufacturers and end other kinds of anti-competitive behaviors that keep brand drug prices exorbitantly high. It's past time for Congress to show Big Pharma that patients must always come before profits!
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