Today, the Coalition for Affordable Prescription Drugs released the following statement:
“The ‘deal’ drug companies sent to the Administration is eerily similar to other industry proposals: it continues providing drug companies with windfall profits paid for by American seniors and taxpayers while doing nothing to address or lower the excessively high prices drug companies set and raise arbitrarily. Further, this proposal offers taxpayers and beneficiaries a third-less savings than the original plan proposed by the Administration. Finally, this ‘deal’ provides a pathway for increasing drug prices over time because it contains no industry commitment not to do so in the future.
“This is a bad deal the Administration should reject. Drug prices won’t come down, drug companies will continue raising prices, and American seniors and taxpayers will foot the bill. We oppose this proposal, as well as the “Rebate Rule” Executive Order pushed by drug companies as a deflection that would lead to similar harmful effects.”