Bipartisan Measures Aim to Curb Big Pharma’s Greed, Lower Drug Prices for Americans, and Save Taxpayers Billions
WASHINGTON, D.C. — Patients For Affordable Drugs Now applauds the reintroduction of key bipartisan drug price reforms that were left out of the end-of-year package in 2024 due to last-minute political maneuvering. A health package that includes these measures was reintroduced this afternoon by Senators Bernie Sanders and Ron Wyden.
These reforms represent an urgent opportunity to lower prescription drug prices by tackling the pharmaceutical industry’s shady tactics, anti-competitive practices, and patent abuses that keep more affordable generics off the market at the expense of patients and taxpayers.
“Congress now has a second chance to address one of the most pressing needs of Americans: lowering prescription drug costs,” said Merith Basey, Executive Director of P4ADNow. “The reintroduction of these reforms is a necessary step toward ending the unchecked greed of industries that profit from the development or distribution of prescription drugs. With nine out of 10 Americans demanding Congress do more to lower drug prices, P4ADNow is calling on Congress to act swiftly to pass these measures and prove that their priority is lowering costs for Americans – not caving to corporate interests.”
The reintroduced package includes:
- S.150, the Affordable Prescriptions for Patients Act: Limits the number of patents pharmaceutical companies can assert on biologics, clearing the path for earlier entry of lower-cost biosimilars into the market. The Congressional Budget Office (CBO) estimates this reform could save taxpayers $1.8 billion over 10 years.
- Q1/Q2, a provision of the Lower Costs, More Transparency Act: Addresses a critical barrier to generic drug approvals by requiring the U.S. Food and Drug Administration (FDA) to provide clearer guidance on ingredient differences, saving generic manufacturers time and money in bringing affordable alternatives to market. The CBO estimates this reform would save taxpayers $871 million over 10 years.
- S.2973, the Modernizing and Ensuring PBM Accountability Act: Would delink pharmacy benefit manager (PBM) revenue from drug prices in Medicare Part D, curbing incentives that lead PBMs to steer patients toward more expensive prescription drugs. It also requires PBMs to report on drug pricing and other information to Part D plan sponsors.
In July 2023, P4ADNow launched the “Push for Competition to Lower Drug Prices” campaign to highlight the harmful impact of Big Pharma’s anti-competitive practices. The campaign included digital ads, an online advocacy hub, and videos urging Congress to pass bipartisan bills like S.150 and Q1/Q2 to promote generic and biosimilar competition. Over the last 20 months, key efforts by patients and advocates have included:
Nearly 42,000 letters were sent to Congress urging action on these bipartisan patent reform bills.
Over 31,000 calls were made by advocates to Congressional offices, pushing for the passage of these reforms.
Nine patient advocates traveled to Washington, D.C. to meet directly with lawmakers, sharing personal stories about the burden of high drug prices.
Patients shared their stories through interviews, press conferences, Hill panels, op-eds, and news outlets nationwide.
David Mitchell, Founder and President of P4ADNow and a patient with an incurable rare cancer testified before the Senate Judiciary Committee, urging Congress to pass reforms, including provisions reintroduced today, to ensure timely market entry for generics and biosimilars and realign incentives for true innovation.
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Patients For Affordable Drugs Now, is the only national, patient advocacy organization focused exclusively on policies to lower drug prices. We empower and mobilize patients and allies, hold accountable those in power, and fight to shape and achieve system-changing policies that make prescription drugs affordable for all people in the United States. P4ADNow is bipartisan and does not accept funding from organizations that profit from the development or distribution of prescription drugs. To learn more visit; PatientsForAffordableDrugsNOW.org.