Wyden Sets Good Starting Point in Fight to Lower Drug Prices

WASHINGTON, D.C –U.S. Sen. Ron Wyden (D-Ore.) today presented Principles for Reform, a new drug pricing reform outline designed to bring down the cost of prescription drugs. Robert Weissman, president of Public Citizen, issued the following statement:

“Big Pharma has imposed a treatment rationing crisis on Americans through its addiction to outrageously high monopoly prices.

“Chairman Wyden has set the starting point for Senate action to curb outrageous drug prices, and it’s a good one. By giving the government broad drug price negotiation power and a stick to enforce it, Americans would begin to experience relief from treatment rationing and high prices imposed by pharma monopolists.

“The details will matter. Drug price negotiations should apply to the broadest possible range of drugs and benefit as many people as possible. Penalties against corporations that refuse to participate must be sufficient to compel compliance. Transparency measures must open the black box of R&D costs and not only apply to prices.

“We look forward to working with Chairman Wyden and the committee to advance robust drug pricing reform with the ambition necessary to respond to the severity of the crisis we face.”