Neal Statement on PhRMA Lawsuit over Lifesaving Drug Price Negotiation
Washington, D.C., June 21, 2023
Ways and Means Committee Ranking Member Richard E. Neal (D-MA) released the following statement after PhRMA filed a lawsuit challenging the Inflation Reduction Act’s provisions that empower Medicare to negotiate lower prescription drug prices for America’s seniors:
“Last year, Democrats stood up for America’s seniors with the Inflation Reduction Act and delivered a major blow to Big Pharma’s practice of profits over people: opening the door to Medicare negotiation, putting money back in Americans’ pockets, and capping lifesaving insulin at $35 per month. Now, PhRMA and other special interest groups are running scared. Today’s lawsuit seeks to undo our progress and baselessly prevent Medicare from being able to negotiate lower drug prices. It’s single-mindedly focused on their bottom line.
“Each threat strengths the clarity of our position: so long as 1 in 3 Americans struggle to afford their lifesaving medications at the hands of PhRMA’s price gouging, Democrats will fight to hold these companies accountable and bring down costs for the American people.”