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PhRMA Willing To Contribute To Drug ‘Affordability’ – But Mum On How Much

 
• By Cathy Kelly

PhRMA CEO Steven Ubl offers list of policy alternatives to drug pricing bills pending in the US Congress that he argues would stifle innovation; industry's plans, on the other hand, could produce "meaningful" legislation.

Washington DC Capitol dome detail with waving american flag
PhRMA Expects Drug Pricing Legislation This Year

The Pharmaceutical Research and Manufacturers Association understands that industry needs to make financial concessions to help lower prescription drug costs in the US but wants a “balanced” legislative approach that doesn’t include price controls, PhRMA President and Chief Executive Officer Steven Ubl told reporters on 10 October.

He reiterated industry’s serious concerns with the price control provisions in legislation pending in the House and Senate, arguing the Senate Finance Committee bill would “siphon off” $150bn from industry research and development spending over 10 years and significantly slow the pace of innovation

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