CAN’s Statement Urging the U.S. Senate to Rethink the Drug Pricing Reform Package

Graph of rise in the cost of medicines

Washington, DC (July 7, 2022) – The Caregiver Action Network (CAN) issued the following statement urging the U.S. Senate to rethink the drug pricing reform package:

“We strongly oppose lawmakers’ new reconciliation language as it would double down on failed prescription drug pricing proposals and uses the Medicare program as a pay-for to address their government mismanagement. Time and time again, mature Americans have warned price control policies would cause massive cuts to drug innovation, leading to fewer treatment options and longer wait times for care.

Meanwhile, this package is light on provisions that would address affordability issues. It even fails to deliver long-awaited rebate reform and instead gives a pass to greedy insurers and Pharmacy Benefit Managers (PBMS), doing nothing to reign in their robbing of patient drug discounts. With inflation rates soaring, we urge Congress to abandon this package and focus on doing everything in its power to help seniors’ bank accounts while preserving their healthcare access.”