PhRMA Statement on House Passage of Reconciliation Spending Bill

WASHINGTON, D.C. (August 12, 2022) – The Pharmaceutical Research and Manufacturers of America (PhRMA) President and CEO Stephen J. Ubl released the following statement after the U.S. House of Representatives passed a reconciliation spending bill, which includes a proposal that would allow the government to set prices for prescription medicines:

“After many months of legislative wrangling, we are left with a partisan, government price setting bill that will lead to fewer cures and treatments and doesn’t do nearly enough to make medicines more affordable for most Americans. It is a highly unbalanced bill based on empty promises. We will continue to advocate for commonsense and bipartisan solutions because the American people deserve better.”

About PhRMA

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier and more productive lives. Over the last decade, PhRMA member companies have more than doubled their annual investment in the search for new treatments and cures, including nearly $101 billion in 2022 alone. 

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