Premier Statement for the Record for the Senate Judiciary Committee Hearing on Prescription Drug Pricing

Premier submitted a statement for the record for the Senate Judiciary Committee’s hearing on “Intellectual Property and the Price of Prescription Drugs: Balancing Innovation and Competition.” Solutions to address the rising cost of pharmaceuticals must appropriately reward innovation and provide incentives for the pharmaceutical industry to continue to bring transformative and curative therapies to market, but also must address any anticompetitive behaviors and loopholes that are preventing a robust and competitive marketplace. Addressing anticompetitive behaviors that artificially extend a drug’s market exclusivity such as pay-for-delay, evergreening, patent hopping, and abusing orphan drug status, just to name a few, are common-sense and market-based solutions that the committee should pursue to lower drug prices for Americans.