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Determined to shield its surging pandemic profits , the U.S. pharmaceutical industry is ramping up its campaign to stop congressional Democrats from enacting reforms to curb sky-high drug prices — a broadly popular legislative effort that one Big Pharma spokesperson dismissed as “too good to be true.”
Politico reported Sept. 2 that in recent private discussions with lawmakers, pharmaceutical lobbyists have explicitly invoked the industry’s role in the rapid development of coronavirus vaccines as an argument against proposed fixes for out-of-control prescription drug costs and other regulations. Any government attempt to intervene in pharmaceutical companies’ price-setting, industry lobbyists claim, would stifle innovation and prolong the fight against COVID-19.
“For years, politicians have been saying that the federal government can interfere in the price of medicines and patients won’t suffer any harm,” said Brian Newell, a spokesperson for the Pharmaceutical Research and Manufacturers of America (PhRMA), a trade group that represents some of the largest drug companies in the nation, including Pfizer , AstraZeneca , and Eli Lilly.
“In countries where this already happens, people experience fewer choices and less access to prescription medicines,” Newell declared. “Patients know if something sounds too good to be true, then it usually is.”
Progressive advocates for lower drug prices adamantly reject that argument, characterizing it as a disingenuous narrative concocted by pharmaceutical companies looking to protect their bottom lines and uphold a status quo that has left the U.S. with by far the highest drug prices of any rich country.
David Mitchell, founder of Patients for Affordable Drugs, told Politico that “this is the best chance that we have seen in a couple of decades to enact meaningful reforms to drug pricing policy in the United States that will lower the prices of prescription drugs, and it’s very clear that the drug companies are going all out to stop it.
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As part of their emerging budget reconciliation package, Democrats are pushing to allow Medicare to negotiate […]
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