WASHINGTON, D.C. — In light of today’s news that Senators John Cornyn (R-TX) and Richard Blumenthal (D-CT) introduced a groundbreaking bipartisan bill that would outlaw two tactics Big Pharma wields to maintain monopoly pricing power, David Mitchell, a cancer patient and the founder of Patients For Affordable Drugs Now, issued the following statement:
“Drug corporations have run amok — abusing our patent system and leaving Americans bankrupt and sick. Two egregious tactics they use to maintain high prices are patent thickets and product hopping. Drug companies file scores of patents in an effort to thwart generic competition, or they bring a new drug to market with small, inconsequential differences in order to prevent a competitor from entering at a lower price. These tactics block free-market competition and keep drug prices high.
“We wholeheartedly endorse the Affordable Prescriptions for Patients Act, and we applaud the work of Senators Cornyn and Blumenthal. This bill will speed generic drugs to market without hurting innovation.
“Momentum is building as Republicans and Democrats collaborate to fix our broken system. We look forward to working in support of this legislation, and we hope today’s bill will be included in any upcoming package of reforms.”