Published: August 2023

Big Pharma and industry groups should drop lawsuits attempting to block drug price negotiation

More than 70 organizations demanded that Big Pharma executives and industry groups end their resistance to drug price negotiation under the Inflation Reduction Act.

More than 70 groups and 150,000 individuals demanded that Big Pharma executives, the U.S. Chamber of Commerce, and other chambers of commerce drop their “unconscionable” lawsuits attempting to limit drug price negotiations under the Inflation Reduction Act (IRA), signed into law last year. Instead, say the groups, the drug companies should negotiate lower drug prices instead. Despite being the largest purchaser of prescription drugs in the world, Medicare pays significantly higher prices than those paid in other countries. Drug corporations routinely charge patients in the United States twice or more of what they charge patients in other large, wealthy countries – even in cases where U.S. taxpayers supported the drug’s development. The Inflation Reduction Act established into law enormously popular, commonsense reforms to lower prices and expand access to medicines for millions of Medicare beneficiaries, including empowering Medicare to negotiate lower prices directly with prescription drug corporations. These reforms are projected to save patients and consumers tens of billions of dollars and expand access while ensuring innovation and drug corporations’ ability to achieve enormous financial success. 

Lead Organization

Public Citizen

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Read the letter here.

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