Statement of Peter Maybarduk, Director, Public Citizen’s Access to Medicines Program
Note: Despite promises from President Donald Trump and prescription corporations, prices for prescriptions have surged during the first six months of 2019. More than 3,400 medications rose an average of 10.5% in the first six months of 2019.
Despite presidential tweets and congressional hearings, there is still nothing to prevent prescription companies from sharply increasing prices.
Lawmakers who have favored only very modest reforms need to open their eyes to the routine price gouging pharmaceutical corporations inflict on Americans with impunity.
Modest reductions quickly will be swallowed up by next year’s industrywide increases. We can’t just tweak drug pricing. Americans demand we transform it.
There are three essential elements to a strategy to make medicines affordable: We must increase public negotiating power. We must curb the abuse of monopoly power. And we should block these year-to-year prescription spikes. Fortunately, there is legislation to do just that.
Congress should pass U.S. Sen. Sherrod Brown’s (D-Ohio) Stop Price Gouging Act right away to put an end to price spikes.