ICYMI: I-MAK SURVEY FINDS FOUR IN FIVE AMERICANS SUPPORT PATENT REFORMS TO LOWER PRESCRIPTION DRUG PRICES
New Findings Underscore Broad-Based Support for Market-Based Solutions to Hold Big Pharma Accountable for Anti-Competitive Tactics That Keep Drug Prices High
In case you missed it, a recently released survey from The Initiative for Medicines, Access, and Knowledge (I-MAK) finds across party lines, Americans are deeply concerned with high prescription drug prices and overwhelmingly support reforming the pharmaceutical patent system to boost competition and lower prices.
According to I-MAK’s “Understanding Americans’ Top Concerns on Drug Pricing: Corporate Greed” survey, conducted by Franklin & Marshall College’s Center for Opinion Research, a 61 percent majority of American adults attribute high drug prices to corporate greed and profit-seeking behavior from Big Pharma. A massive 80 percent support changes to U.S. patent laws to address drug pricing.
The findings come as Big Pharma continues to game the U.S. patent system and block competition from more affordable alternatives — enabling brand name drug companies to extend monopolies over their biggest money-makers and price-gouge American patients.
Other key findings from the survey include:
- Among those taking prescription medications, 31 percent reported skipping at least one prescription in the past year due to cost. 15 percent of adults who did not take prescriptions in the past year also reported skipping fills because of cost.
- 58 percent of adults who take prescriptions report engaging in at least one cost-saving behavior, including 31 percent who purchased an over-the-counter substitute, 30 percent who delayed filling a prescription, and 27 percent who took less medication to save money.
- 82 percent of Americans believe U.S. consumers pay more for the same drugs than those in other developed countries.
- 84 percent of Americans say pharmaceutical companies make too much profit, and 61 percent attribute high prices to corporate greed and profit-seeking behavior.
- 90 percent of Americans support market-based reforms that make it easier for generic drugs to come to market, and 90 percent back requiring public disclosure of how drug prices are set.
The Trump administration recently announced reforms to accelerate biosimilar approvals — an important step toward fostering greater competition from more affordable alternatives to Big Pharma’s high-priced brand name biologics and lowering prescription drug prices.
Congress should build on this positive momentum by advancing bipartisan, market-based solutions, including The Affordable Prescriptions for Patients Act, Q1/Q2 sameness reforms and other solutions with proven support from both sides of the aisle, to crack down on Big Pharma’s egregious anti-competitive practices.
Read the full report from I-MAK HERE.
Read more about Big Pharma’s patent abuse HERE.
Learn more about bipartisan, market-based solutions to hold Big Pharma accountable HERE.
###
