Credo Action

Break up Big Pharma monopolies on generic drugs

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The petition to Congress reads:

"Pass the Affordable Drug Manufacturing Act, which would break Big Pharma monopolies on generic drugs if they hike prices or deny Americans medicine."

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    Break up Big Pharma monopolies on generic drugs

    Donald Trump's Big Pharma friends are once again proving that his grand promises are lies. Big Pharma just announced that price hikes on essential medicine are coming this year.1

    Every elected Democrat highlights Trump's hypocrisy on drug prices. But only some Democrats – the progressive wing of the Party – have real, innovative solutions. A new bill from Rep. Jan Schakowsky and Sen. Elizabeth Warren would break up Big Pharma cartels – if they jack up prices and limit access – by publicly manufacturing pharmaceutical drugs.2

    It is a smart and bold approach that sets the agenda for the Democratic Party moving forward - and it deserves our urgent support.

    Tell Congress: Break up Big Pharma monopolies on generic drugs.

    Millions of Americans with diabetes rely on pharmaceutical insulin – yet Big Pharma monopolies have tripled the price. It is a perfect example of the way the generic pharmaceutical drug system is broken. Generics – the same drug, but without the name brand – are supposed to be available at a lower cost after a set period of time. But anyone who has been to a pharmacy in the last few years knows generic drugs are not always as cheap as Big Pharma wants us to believe.3

    Big Pharma monopolies will buy up exclusive rights to generic drug and jack up the price. In some cases, no company will produce a badly needed medicine – or a handful of companies will control the market and line their pockets by charging desperate people more money.4 It's not ok.

    Tell Congress: Break up Big Pharma monopolies on generic drugs.

    Rep. Schakowsky and Sen. Warren are out to break these Big Pharma monopolies. Their plan would kick in if no one is manufacturing a drug, if only one or two companies control production and jack up the price, or if Big Pharma raises prices on a World Health Organization "essential medicine." In these cases, the government would have the power to manufacture the drug directly – skipping the profit-making middleman killing and bankrupting America.5

    The Schakowsky-Warren bill complements other progressive proposals that CREDO members support. We need every good idea on the table, and we need to show a massive outpouring of support for the ones that boldly take on Big Pharma's monopoly power.

    Tell Congress: Break up Big Pharma monopolies on generic drugs.

    References:

    1. Michael Erman and Robin Respaut, "Exclusive: Big Pharma returning to U.S. price hikes in January after pause," Reuters, Dec. 19, 2018.
    2. Sen. Elizabeth Warren, "Warren, Schakowsky Introduce Bicameral Legislation to Radically Reduce Drug Prices Through Public Manufacturing of Prescription Drugs," Dec. 18, 2018.
    3. Dylan Scott, "Elizabeth Warren’s ambitious new bill to lower generic drug prices, explained," Dec. 20, 2018.
    4. Ibid.
    5. Ibid.