Statement on Senate Finance Committee Pharma Hearing
Washington D.C. – Families USA Executive Director Frederick Isasi released the following statement regarding the Feb. 26 Senate Finance Committee’s hearing with executives from the nation’s seven largest drug companies to testify.
“Congress Created the Problem of Prescription Drug Pricing Abuses —
It’s Time They Fixed It
“Today’s hearing on soaring prescription drug costs marks an important step in solving this problem. We are glad Chairman Chuck Grassley (R-IA), Ranking Member Ron Wyden (D-OR), and the entire Senate Finance Committee are tackling this issue, which continues to plague families nationwide and threaten their financial security and health.
WATCH: Families USA executive director Frederick Isasi and Shawn Gremminger, Senior Director of Federal Relations, discuss the significance of today’s hearing.
“We are particularly excited by the scope of this hearing, as it indicates there is now a broad consensus across party lines that unaffordable drug pricing is a problem the entire industry must be accountable to, not just a few bad actors. We’ve seen hearings like this before, but it is significant that all the nation’s top pharmaceutical executives were called to testify at once.
“Drug companies can charge outrageous and unsustainable prices because Congress has given them monopolies. That’s why Congress has to step up and start addressing this problem. This is the first time that we can see real bipartisan energy broadly engaged to address prescription drug abuses. But we also are talking about the most powerful lobby in the nation. America’s families need action now. We are all waiting and watching to see if these bipartisan efforts can translate into a real change in federal drug laws.
Congress must lay aside party differences and work in lockstep to ensure that people like Ola Ojuwemi, a patient advocate and cancer survivor, no longer face monthly prescription drug costs of $2,000.
“The power to solve the crux of America’s prescription drug pricing crisis lies with Congress. We look forward to seeing what next steps the Committee will take to make life-saving prescription drugs more affordable for all America’s families.”