Kaptur Joins Leading Democrats to Launch Affordable Drug Pricing Task Force

WASHINGTON, D.C.— Congresswoman Marcy Kaptur (OH-9) joined with other leading Democratic this morning to launch the Affordable Drug Pricing Task Force to push for meaningful action to address skyrocketing or predatory prescription drug prices. Video of Rep. Kaptur’s remarks is available here.

“When the de facto slogan of the pharmaceutical industry has become ‘your money or your life,’ it’s past time to act,” said Rep. Kaptur. “We have reached the point where America’s seniors, as well as our poorest and most vulnerable citizens, live in fear that their next prescription refill will drive them into financial ruin or leave them without the medicine they need. Congress has a moral responsibility, as well overwhelming public support, to act on this issue. I am proud to join the distinguished members of this Task Force to stand up for the American people against this craven exploitation.”

Other Members in the Task Force include Reps. Cummings, Levin, McDermott, DeLauro, Schakowsky, Welch, Kaptur, and Cicilline.

“While enjoying both generous tax breaks and government subsidized research, the pharmaceutical industry claims that it must engage in price gouging of Americans to fund research for the world’s consumers,” Mr. Doggett added. “Innovation versus accessibility is really a false choice. And innovation means very little if cost denies access to new drugs.”

Earlier this year, Rep. Kaptur successfully placed language into the Labor, Health and Human Services (HHS), and Education Appropriations bill directing the HHS Secretary, in consultation with the Secretary of the Department of Veterans Affairs (VA), to report to Congress within 120 days of the bill’s enactment with an analysis of prescription drug price increases to “review how the Federal Government has achieved competitive cost reductions for drugs since 2001.” Once completed, the analysis will be used to identify possible cost savings available through the expansion of collective bidding and bulk price negotiation. Rep. Kaptur’s amendment was one of three proposed by Democrats and accepted by Republicans, out of a total of approximately 30 total amendments proposed by Democrats on the House Appropriations committee.

A recent Kaiser Health Tracking Poll found 77 percent of respondents say the top health care priority for the President and Congress should be making sure high-cost drugs for chronic conditions are affordable for those who need them. 63 percent the top priority should be government action to lower prescription drug costs, including a majority of Republican respondents (56%).

Important widely-prescribed drugs, including Humulin RU-500 to treat diabetes and EpiPen for allergic reactions, have increased in price by 200 to 300 percent from 2007 to 2014. According to the New York Times, “the prices of some generic drugs have soared more than 1,000 percent” in one year. Dr. J.B. Silvers, health care finance professor at Case Western Reserve University in Cleveland, observes that the biggest price spikes are in specialty drugs that are usually injected. “The ones we've seen lately are existing drugs where somebody else buys the existing drug and then cranks up the price until somebody can come in and compete with them and that's pure exploitation," said Silvers.

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