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CAPD Statement on Senate Judiciary Committee Hearing on IP and Drug Pricing

Debra Barrett, Executive Director of the Coalition for Affordable Prescription Drugs, released the following statement ahead of the Senate Committee on the Judiciary hearing, “Intellectual Property and the Price of Prescription Drugs: Balancing Innovation and Competition,” being held on Tuesday, May 7, 2019:

Drug manufacturers continue to take advantage of loopholes in the current system to extend their monopoly pricing power and undermine timely generic competition. This gamesmanship costs patients and the health care system billions of dollars each year and allows Big Pharma to hike their prices at will. We are encouraged that the Senate Judiciary Committee is taking a close look at these abuses and we look forward to working with policymakers and other stakeholders to find ways to help foster a marketplace that works for patients, payers and the health care system overall.