WASHINGTON, D.C. — The following statement was issued by David Mitchell, a cancer patient and founder of Patients For Affordable Drugs Now, following the announcement of an agreement reached on prescription drug pricing reform in the Build Back Better Act:

“Today marks a signal achievement in the fight to curb pharma’s power to dictate prices of brand-name drugs. It marks a milestone for patients across the country — too many of whom struggle to pay for the medications they need to stay healthy or alive. This measure meets the key test: It will help patients and improve the lives of millions of Americans.

“While we await details from the Speaker and Senate Majority Leader to understand the full impact of the legislation, we are heartened by reports that the plan will include, for the first time, direct negotiation for some of the most expensive drugs, including insulin; a hard cap on out-of-pocket costs for Medicare beneficiaries; and limits on annual price increases to stop price gouging by drug corporations that will help all Americans. 

“If initial reports are accurate, the bill will reset key policies to make our broken drug pricing system work better for the people it is supposed to serve. It will help ensure patients get the innovation we need at prices we can afford. While it may not have all the features we would have wished for, it takes important steps in a new direction that we can build on in the years ahead. 

“We are grateful for the determined work from leaders and members of Congress who have championed this issue for years and fought for its inclusion in the Build Back Better Act. Without their dedication to fighting for patients, we would never have arrived at this moment. We are thankful for the hard work of allied organizations. 

“Most of all, we are proud of the work of hundreds of thousands of patients and their families whose support and relentless advocacy for reform made this deal today possible.”