Incoming Administration Must Make Prescription Drugs More Affordable

November 12, 2024

Incoming Administration Must Make Prescription Drugs More Affordable

WASHINGTON, D.C. - In the United States, three in 10 adults report not taking their medicine as prescribed due to cost, with even higher rates of rationing among younger adults, Hispanic adults and lower income households.

As millions of Americans struggle to afford their medications, leading health groups, labor unions and think tanks have teamed up to propose policy and systems guidance for the incoming administration and Congressto ensure patients can get the access to the medicines they need at prices they can afford.

The groups call on policymakers to build on and expand Medicare drug price negotiation, inflation rebates and out-of-pocket cost protections, stop monopoly abuses, and instill greater transparency throughout the prescription drug market:

"Americans across party lines demand more action from the government to lower drug prices," said Steven Knievel, Public Citizen Access to Medicines advocate. "These principles chart a path forward for policymakers to protect the progress made through the Inflation Reduction Act and go further, by negotiating deeper discounts for more drugs and finally taking on drug corporations' monopoly abuse."

"Too often, we have seen our patients unable to afford the medicines we prescribe due to high prices," said FDA Task Force for Doctors for America Chair Reshman Ramachandran, MD, MPP MHS. "For us to do our job effectively as doctors, all of our patients need affordable access to their prescriptions. While the Inflation Reduction Act has provided some relief to our patients, it is not enough - we still see too many patients in our exam rooms and hospitals making unfortunate tradeoffs between their medicines and their lives."

"The Inflation Reduction Act was an historic step towards addressing the high cost of drugs in the Medicare program," said David Lipschutz, co-director of the Center for Medicare Advocacy. "But much more work needs to be done, not only for Medicare beneficiaries, but for everyone in this country who can't afford their prescriptions."

"For the first time in history, Medicare has the power to negotiate lower prices on key prescription drugs," said Alex Lawson, executive director of Social Security Works."This was Big Pharma's first major loss in Congress, but it won't be the last. We won't stop until everyone in America can get medications they need no matter what. These principles lay out the plan for making it happen."

"At T1International, we are fighting for a world where everyone with diabetes can survive and achieve their dreams," said Shaina Kasper, executive director of T1International."The $35 insulin copay cap for Medicare beneficiaries is a good first step, but much more needs to be done so that everyone can afford accessible insulin across this country."