Washington, DC—The Alliance to Protect Medical Innovation’s Patrick O’Connor released the following statement on new legislation introduced by Reps. Peter Welch (D-Vt.) and Francis Rooney (R-Fla.) that would require the federal government to negotiate drug prices in the Medicare Part D program:
“This bill is the latest in a long line of well-intended policy prescriptions that would create more problems than it solves. There are already robust price negotiations in Medicare’s prescription-drug program, as evidenced by the declining costs of those plans. The Congressional Budget Office has repeatedly said negotiation would not generate meaningful savings. CBO also noted that the only way to reduce prices would be to threaten access to those drugs the government targets. Supporters of these measures need to be upfront about those tradeoffs.”
The Alliance to Protect Medical Innovation is a nonpartisan group committed to fostering a national conversation on medical innovation and patient access to care that is holistic and fact-based. The Alliance evaluates policy proposals and fact-checks claims affecting biomedical innovation, as well as responds to attacks on this innovation ecosystem. We are committed to preserving the pipeline of breakthrough medicines that reduce costs within the health care system and help people live longer, healthier, and more productive lives. The Alliance receives funding from biopharmaceutical companies and other entities that represent the industry.