About PhRMA
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research companies, which are laser focused on developing innovative medicines that transform lives and create a healthier world. Together, we are fighting for solutions to ensure patients can access and afford medicines that prevent, treat and cure disease. Over the last decade, PhRMA member companies have invested more than $850 billion in the search for new treatments and cures, and they support nearly five million jobs in the United States.
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For information on how innovative medicines save lives, please visit:
www.PhRMA.org
www.VotersforCures.org
www.AmericasMedicines.com
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Below is a statement from PhRMA president and CEO Stephen J. Ubl on the Administration’s Part D Senior Savings Model.
“We are pleased to see the Administration is focused on lowering out-of-pocket costs at the pharmacy counter for seniors with diabetes. The model has the potential to meaningfully improve affordability and predictability for patients who rely on insulin, but it must be a shared responsibility between health plans and biopharmaceutical companies. Our industry is committed to doing our part and seeking contributions from all stakeholders to lower patient costs is a better approach than other policies that harm innovation and threaten patient access to new medicines.
“Companies already provide deep discounts and rebates on insulin – often in excess of the net revenues retained by the manufacturer – but Part D plans and PBMs are not sharing those savings directly with patients, whose out-of-pocket costs continue to soar. We look forward to continuing to work with the Administration to improve affordability for patients, including modernizing Part D coverage and enacting comprehensive rebate reform to address misaligned incentives in the system.”
Press Release
Part D
PhRMA Statement on Administration's Part D Senior Savings Model
PhRMA Statement on Administration's Part D Senior Savings Model image