In a letter provided first to The Hill and addressed to congressional leadership, AARP and P4AD stated plainly that the Ensuring Pathways to Innovative Cures (EPIC) Act “does not serve the American taxpayers and would instead block or delay patients’ access to lower prescription drug prices.”
The bill, introduced by North Carolina Reps. Greg Murphy (R) and Don Davis (D), would add four years to the seven-year period that a small-molecule drug must be on the market in order to be selected for Medicare negotiations.
When introducing the bill, Murphy said, “The Inflation Reduction Act’s price-fixing scheme destroys research and development, reducing treatment options for patients.”
But AARP and P4AD pushed back on this argument.
“In the nine months following the passage of the law, big drug companies acquired more small-molecule drugs than in the nine months prior,” they wrote.
“A recently published analysis showed an increase in drug licensing as well as pharmaceutical investment in research and development during the six quarters following the passage of the law. Available data does not support claims that drug development has slowed since enactment.”
They further argued that taxpayers could face $10 billion “in unnecessary spending” if the EPIC Act is passed.
“Americans deserve a government that prioritizes their needs over unfounded complaints from drug companies. We urge you to stand with patients and older Americans by protecting access to affordable medicines and ensuring taxpayer dollars are used wisely,” they wrote.
