AHIP Statement For House Hearing On Rising Prescription Drug Prices
posted by AHIP
on February 12, 2019
On February 12, 2019, AHIP submitted a statement for a House Ways and Means Committee hearing on rising prescription drug prices.
Our statement emphasizes that we look forward to working with the committee to advance market-based solutions that hold drug makers accountable for high list prices and provide relief to American families from soaring prices for prescription drugs. Our statement focuses on:
- The reality that the prescription drug pricing process is dictated by the original list price of a branded drug—which is determined solely by the drug maker, not by the market or any other participant in the pharmaceutical supply chain;
- Key areas where we support efforts by Congress and the Administration to use market-based solutions that put downward pressure on prescription drug prices through competition, consumer choice, and open and honest drug pricing; and
- Our concerns with a proposed rule, recently released by the Department of Health and Human Services (HHS), that would raise premiums on America’s seniors by 25 percent, increase taxpayer costs by nearly $200 billion, and give away tens of billions of dollars to Big Pharma. At the same time, the proposed rule would do nothing to address the core problem of high drug prices in this country.