posted by AHIP
on May 21, 2019
On May 21, 2019, AHIP submitted a statement for the official record of a hearing in the House Energy and Commerce Committee on “Improving Drug Pricing Transparency and Lowering Prices for American Consumers.”
Our statement emphasizes that greater transparency by drug manufacturers is an important part of a broad-based strategy to provide relief to the American people from out-of-control prescription drug prices. We explain that in addition to empowering consumers, openly disclosing list prices for drugs will bring additional public attention to drug price increases, which will discourage drug makers from raising their prices on the same product year after year—often multiple times a year—without justification.
Government leaders, regulators, consumers, businesses that provide prescription drug coverage to employees, and other health care stakeholders deserve to know how prices are set and what causes them to go up. By understanding the market dynamics of why prices are what they are and why they go up, we can work together to mitigate those effects.
Our statement expresses support for several bills the committee considered in its May 21 legislative hearing.