The Federal Trade Commission is currently collecting public comments on the “Business Practices of Pharmacy Benefit Managers and Their Impact on Independent Pharmacies and Consumers.” Today ACI filed its comments with the FTC. The comments are available here.
Most consumers are probably aware of the growing problem of high drug prices in America today. From the high cost of drugs needed for everyday ailments, to specific prescription plans that require expensive copays and deductibles, Americans pay an unnecessarily high price for their medication. However, what they are probably unaware of is how Pharmacy […]
Today, a large coalition of think tanks sent a letter to members of Congress opposing efforts to place artificial prices on prescription drugs. The letter explains that such price controls would lead to drug shortages, impede investment and innovation, and lead to worse outcomes for patients. The letter is available online.
In September 2021, the Department of Health and Human Service (HHS) released its plan to lower drug prices. Unfortunately, for consumers and patients, the report contained grim statistics that highlighted the cost of drugs in this country and the medical insecurity these prices impose. HHS estimates that each year, “Americans spend more than $1,500 per […]
58 million Americans are not able to afford the drugs they need, and 34 million adults know someone who died because they could not afford medications. Earlier this month the House Ways & Means Committee endorsed H.R. 3, a proposal that would set prescription drug price controls as one way to pay for the massive $3.5 […]
Today, the American Consumer Institute (ACI) send a letter to the Senate and House Leadership highlighting keys ways for Congress to lower drug prices for patients. Among ACI’s suggestions were the streamlining of regulations that impede market entry for generic and biosimilar drugs. In addition to increasing price competition, the letter recommends requiring Pharmacy Benefit […]
Americans pay around $1,200 for prescription medication each year, well above patients in Canada, Europe, or Australia. In 2020 alone, Americans spent $358.7 billion on prescription drugs. These high costs force millions to skip doses of life-saving medicines and leave patients facing unnecessarily adverse health outcomes. The Food and Drug Administration (FDA) should seek to […]
Today, ACI joined over two dozen groups in sending a letter to Congress in support of legislation that would increase competition for biologic drugs as a means to lower drug prices for patients. On behalf of millions of patients, providers, and taxpayers, we strongly support promoting the use of affordable and safe biosimilars across the […]
According to the Centers for Medicare and Medicaid Services (CMS), prescription drug expenditure in the United States amounted to a total of $358.7 billion in 2020. It’s estimated that Americans pay around $1,200 each year for prescription medication, well above other comparable countries. One significant cause of high drug prices are the Pharmacy Benefit Managers (PBMs). To read this […]
In exchange for some short-term price reduction, H.R.3 threatens access to medicine, innovation, research, and drug shortages, which can negatively impact the U.S. healthcare system. Reforming Pharmacy Benefit Managers, for example, rather than establishing price controls or allowing medications to be imported from Canada, is essential for lowering drug prices in a system that currently lacks […]