WASHINGTON — The Pharmaceutical Care Management Association (PCMA) issued a statement of support for today's joint listening session, hosted by the Federal Trade Commission (FTC), the Department of Justice (DOJ), the Department of Health and Human Services (HHS), and the Department of Commerce (DOC). The session focused on “Anticompetitive Conduct by Pharmaceutical Companies Impeding Generic or Biosimilar Competition.”
PCMA praised FTC Chair Andrew Ferguson and DOJ Antitrust Division Assistant Attorney General Gail Slater for launching a series of sessions aimed at addressing high prescription drug costs through increased competition.
“We applaud the announcement by FTC Chairman Andrew Ferguson and Assistant Attorney General Gail Slater of the DOJ Antitrust Division to host a series of listening sessions focused on lowering prescription drug costs for Americans.
“Today’s session, ‘Anticompetitive Conduct by Pharmaceutical Companies Impeding Generic or Biosimilar Competition,’ should provide an opportunity to learn more about some drug companies’ egregious abuse of the patent system. There is irrefutable evidence of some drug companies repeatedly abusing the patent system to block competition by keeping more affordable alternatives from entering the marketplace. Blatant misuse of the patent system allows those companies to keep drug prices high and maintain higher profit margins at the expense of patients.
“Increasing competition is a proven way to lower prescription drug costs. Stopping patent abuse will allow pharmacy benefit managers (PBMs) to more effectively leverage competition and further reduce drug costs for health plan sponsors and patients.”
PCMA voiced support for a series of legislative and regulatory reforms, including:
- The Affordable Prescriptions for Patients Act, which would prevent drug companies from exploiting the patent system to extend monopolies.
- The Biosimilar Red Tape Elimination Act aims to streamline access to biosimilars and promote market competition.
- Legislation to refine market exclusivity rules, ensuring they reward genuine innovation within reasonable timeframes.
- Regulatory reforms that foster innovation while allowing faster entry of affordable alternatives.
PCMA also noted it has submitted formal recommendations to the FTC, outlining concrete steps regulators can take to boost competition and reduce costs for patients and health plans alike.
