Coalition Calls On Congress To Stop Drug Companies From Abusing Patent Laws & Pass Real Reforms That Will Lower Costs for Consumers
Thanks Congressional Leaders in Shining Light on Big Pharma’s Abuse of America’s Patent System
WASHINGTON, D.C. – The Coalition Against Patent Abuse, a diverse coalition of healthcare providers, consumer groups, patient advocacy organizations, free market advocates and others released the following statement today surrounding the public hearing of the U.S. Senate Committee on the Judiciary entitled, Intellectual Property and the Price of Prescription Drugs: Balancing Innovation and Competition. The following statements are attributable to Matthew Lane, Executive Director of the Coalition Against Patent Abuse.
“Americans pay up to 65% more for drugs than citizens in other Western countries and that is due in part because Big Pharma has been abusing and gaming the patent system for far too long. Their efforts to extend a decades-long monopoly on specific drugs, while blocking or stalling generic competition, has substantially increased the cost of prescription medication for millions of Americans.
“Study after study has shown that generic competition of prescription drugs dramatically reduces prices and expands access to important medications. Americans saved $265 billion from generic drugs in 2017, alone, and the FDA estimates that generic entry reduces prices, on average, to just 20 percent of the pre-entry price.
“The patient access and savings generated through competition is just as important to Americans as the research and development that produces new treatments to diseases. It is this balance that has been the focus of important bipartisan legislative efforts for decades and patients across the country today are counting on Congress to take real action that will promote competition and lower the cost of vital prescription drugs that save lives and improve Americans’ quality of life.
“We thank Senator Cornyn and the bipartisan support from Members of Congress who have been leading on this important issue and for work to shine a long overdue light on Big Pharma’s abuse of America’s patent system. Our Coalition looks forward to building on today’s hearing and working with Congress to pass long overdue patent reforms.”
Click here to review the full written testimony from the Coalition Against Patent Abuse before the U.S. Senate Committee on the Judiciary.
The Coalition Against Patent Abuse are healthcare providers, consumer groups, patient advocacy organizations, free market advocates, employers, and others fighting abuses of the patent system that can extend government-granted monopolies that illegitimately keep drug prices high for years, or even decades. Our members include the following groups and organizations: America’s Health Insurance Plans, Association for Accessible Medicines, Blue Cross Blue Shield, Campaign for Sustainable Rx Pricing, Citizen Outreach, Consumer Action, Innovation Defense Fund, Institute for Liberty, Kaiser Permanente, Knowledge Ecology International, Lincoln Network, R Street Institute, Society for Patient Centered Orthopedics, and U.S. Public Interest Research Group.