UPDATED 7:32 AM PT — Wednesday, May 22, 2019
Congressional lawmakers are continuing their efforts to lower prescription drug prices and increase transparency. Top pharmaceutical heads testified before the House Energy and Health subcommittee Tuesday about bills addressing both issues.
Among those bills is a proposal to eliminate drug rebates due to concerns over private drug cost negotiations between drug-makers and pharmacies.
The head of the Pharmaceutical Research and Manufacturers of America said increased competition would help to lower drug prices. The executives also said improving price transparency is not enough.
“I will say that Pharma supports greater transparency across the health care system,” stated Lisa Joldersma, senior vice president of Pharmaceutical Research and Manufacturers of America. “We also need to take steps to promote competition to address misaligned incentives in our system and to explore ways to make insurance work better for sick patients, who need today’s medicine and those who are waiting for tomorrow’s.”
Meanwhile, Congress is now weighing whether to force drug-makers to disclose how they negotiate drug prices with pharmacies.