REPS. HOYLE AND DOGGETT REINTRODUCE LEGISLATION TO LOWER PRESCRIPTION DRUG PRICING

Washington DC – Today, Representatives Val Hoyle (OR-04) and Lloyd Doggett (TX-37) reintroduced the Affordable Pricing for Taxpayer-Funded Prescription Drugs Act to lower the cost of prescription drugs for Americans. Building on the progress made in the Inflation Reduction Act, this bill would ensure Americans can finally afford lifesaving medicines by requiring affordable pricing agreements for any drug developed using federal funds.

“Americans are struggling to afford essentials like gas, groceries and prescription drugs. In fact, drug prices in this country are 2.78 times higher than other developed countries,” said Rep. Hoyle. “It’s unacceptable that American taxpayers have to pay the price for Big Pharma’s greed. The Affordable Pricing for Taxpayer-Funded Prescription Drugs Act will help working families by establishing affordable pricing agreements and improve transparency from manufacturers.”

“As Trump’s secret deals with Big Pharma do nothing to lower drug prices for most consumers, this legislation delivers meaningful protections to ensure all Americans are charged fair and reasonable prices when taxpayers contribute research and development funding. Families struggling to afford gas, groceries, and most everything else under Trump tariff taxes shouldn’t also be forced to ration or skip necessary medications because of his failure to restrain Big Pharma’s monopoly power,” said Rep. Doggett.

Endorsements

Public Citizen’s Access to Medicines Program – Peter Maybarduk, Director

“The U.S. Government is the largest supporter of biomedical research and development in the world, yet U.S. patients and taxpayers are routinely charged 3-4 times the prices people in other large, wealthy countries pay for prescription drugs. Drug corporation profiteering off Americans for drugs we paid to invent is unjust and leads to preventable suffering and death. Public Citizen is grateful for Reps. Hoyle and Doggett introducing the Affordable Pricing for Taxpayer-Funded Prescription Drugs Act, which would expand access to affordable medicines and bring fairness through requiring federal agencies to include reasonable pricing requirements in licenses, contracts, and other agreements through which Americans support biomedical R&D.”

Knowledge Ecology International – James Love, Director

“This is a very thoughtful and reasonable proposal. The requirement that US residents would not have to pay more than other high-income countries, when their tax dollars supported the research to develop a product, should not be controversial. The other provisions in the bill provide balance and nuance. The waiver provision provides even more flexibility, and is appropriately tied to transparency and public comment obligation, when used.”

Background

In August 2022, Congressional Democrats passed the Inflation Reduction Act, giving Medicare the power to negotiate prices for the most expensive prescription drugs. While the Department of Health & Human Services has used this authority to save Americans billions, Big Pharma continues to raise prices and pad its bottom line. The Affordable Pricing for Taxpayer-Funded Prescription Drugs Act builds on this reform by ensuring the federal government can use its leverage earlier in the drug development process. The bill:

The full bill text can be found here.

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