WASHINGTON, DC – Today, U.S. Senator Jack Reed issued the following statement on the Pharmaceutical Research and Manufacturers of America (PhRMA) trade group filing a lawsuit challenging the Inflation Reduction Act’s provisions empowering Medicare to negotiate lower prescription drug prices for seniors:
“For years Republicans in Congress and special interests blocked commonsense steps to lower prices for consumers. But with passage of the historic Inflation Reduction Act, Democrats won a key legislative victory to lower drug prices for seniors, despite PhRMA spending billions of dollars to keep prescription drug prices artificially high. Now they’ve filed this shameful lawsuit to try and get the courts to do their bidding and prevent Medicare from using its purchasing power to negotiate for lower prices.
“Their lawsuit should not succeed. Anyone who has ever shopped at a wholesalers like BJ’s or Costco understands that when you buy in bulk you can save money. The taxpayers deserve to save money as well.
“I encourage the Biden Administration to vigorously uphold and defend the law. And I will continue working to further advance prescription drug pricing reform to lower costs, save lives, and save millions of families real money.”
Original source can be found here.
