The Reality of Prescription Drug Innovation: Drug Manufacturers Limit Innovation to Protect Patents and Profits

For the first time in history, thanks to prescription drug price reforms in the Inflation Reduction Act, the federal government can negotiate directly with big drug companies to lower the outrageous prices they are charging older adults and people with disabilities who rely on Medicare. This is a major step forward in decreasing the cost of lifesaving prescription drugs.

Too often, big drug companies use their immense profits to protect their drug patents — a move that ensures they do not face legitimate price competition and allows them to continue to price gouge millions of Americans who rely on prescription drugs.

For a deeper dive, read Families USA’s full report on drug system innovation.