WASHINGTON, D.C. (July 6, 2022) – The Pharmaceutical Research and Manufacturers of America (PhRMA) Executive Vice President of Public Affairs Debra DeShong released the following statement:

“The prescription drug bill released today went from bad to worse for patients. Democrats weakened protections for patient costs included in previous versions, while doubling down on sweeping government price-setting policies that will threaten patient access and future innovations. In fact, they are proposing to repeal a policy that would have directly lowered costs at the pharmacy for millions of seniors in favor of a new price-setting scheme. The bill also ignores the role of middlemen and insurers in determining patient out-of-pocket costs. Unfortunately, PBMs and insurers will continue to benefit by shifting more of the cost burden to patients when it comes to coinsurance and premium increases. Patients deserve better.”