Washington, D.C. — Today, the Pharmaceutical Research and Manufacturers of America (PhRMA) filed a lawsuit in federal district court to block the Inflation Reduction Act’s Drug Price Negotiation Program, arguing that it is unconstitutional. In response, Emily Gee, senior vice president for Inclusive Growth at the Center for American Progress, released the following statement:
This lawsuit is an insult to millions of patients in America who have been forced to ration their medications or forgo prescriptions altogether because of Big Pharma’s greed. For decades, Big Pharma has exploited its monopoly power to rip off hardworking Americans by charging prices in the United States that no other country in the world will agree to pay for the exact same drugs. President Joe Biden’s targeted law to lower drug prices puts an end to the most egregious excesses in the pharmaceutical industry; incentivizes drugmakers to actually invest in innovative therapies; and will lower drug prices for millions of seniors with cancer and diabetes, among other common conditions. The courts should reject this and similar lawsuits that appear to be nothing more than a ransom note for millions of Americans who need access to lifesaving medications they otherwise cannot afford.
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