A Better Solution
By Rep. Dusty Johnson
Americans pay too much for prescription drugs.
Don’t get me wrong. I’m not trying to demonize pharmaceutical companies. I don’t think profit is a dirty word, and I understand that they are trying to find cures in a highly uncertain environment. According to Dr. Anupam Jena, less than 1 of every 12 potential drugs ever reach patients, the average drug takes more than a decade to develop, and it costs more than $1 billion to bring one new drug to market.
But it doesn’t make sense that Americans pay so much more than the rest of the world. We are subsidizing their drug prices, and it isn’t fair.
Luckily, there is a solution. Two weeks ago, I introduced H.R. 19 with more than a hundred of my colleagues. Our bill is quite different than the one Speaker Pelosi passed through the House recently, and would address pharmaceutical prices in a number of important ways.
First, it will end abuses of the patent system. Today pharmaceutical companies can actually pay other drug manufacturers to keep competing generic medicines off the market. This “pay for delay” tactic is illegal in most every industry, and it shouldn’t be allowed for pharmaceuticals, either.
Second, it will, for the first time ever, place a cap of seniors’ out-of-pocket drug expenses. This would bring Medicare Part D more in line with most other health insurance products in our country and is supported by 75% of Americans.
Third, it will appoint a new negotiator in the U.S. Trade Representative’s office to push back against those countries who refuse to pay their fair share for prescription drugs.
Fourth, it will increase drug pricing transparency both in the doctor’s office and the pharmacracy, putting both patients and health care professionals in a better position to make effective decisions. Greater drug price transparency is supported by 90% of Americans.
There are also different prescription drug plans being offered by the Senate and the White House. Each of these bills has some intriguing components, and I’m hopeful 2020 will bring some momentum on finding a solution. Last week brought bipartisan victories on the National Defense Authorizing Act and the US-Mexico-Canada trade agreement (USMCA), proving that bipartisan successes aren’t an extinct species, even in Washington, D.C.
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