The Biden administration has achieved significant progress in lowering prescription drug costs through various measures. President Biden's Inflation Reduction Act will cap prescription drug costs for seniors at $2,000 a year starting next year. Additionally, Medicare will now be able to negotiate prices for a select number of expensive, widely-used drugs, a move expected to save lives. The Federal Trade Commission (FTC) has also played a crucial role in this effort. A New Jersey federal court, backed by the FTC, invalidated five of Teva Pharmaceutical's patents on asthma inhalers, clearing the way for generic alternatives and potentially lowering drug prices further. This ruling embraced the FTC's amicus brief, which highlighted that improper patent listings block competition and delay cheaper drugs. Lawmakers like Senator Elizabeth Warren and Representative Pramila Jayapal are pushing for further reforms to combat Big Pharma's abusive practices and create more competition in the pharmaceutical industry. The act also includes a $35 price cap on Insulin. Despite promises from Trump, it was President Biden and House Democrats who achieved these reforms.
The FTC is putting big Pharma on notice and helping millions of Americans access inhalers at a fair price. The Biden-Harris Administration will keep using all tools available to lower drug prices and increase access to health care. https://t.co/LXVaj8ralP
Amneal Pharmaceuticals with the backing of the FTC convinced a federal court in New Jersey to remove five Teva inhaler patents from the FDA's Orange Book, clearing an obstacle for Amneal's proposed generic https://t.co/eHhdhZce0v https://t.co/Z66mhFG6Ly
Drugmaker Amneal Pharmaceuticals with the backing of the FTC convinced a New Jersey federal court to remove five Teva Pharmaceutical patents from a FDA list of patents covering Teva's breathing drug ProAir HFA @blakebrittain https://t.co/eHhdhZcLQ3 https://t.co/oIv5eqrWld
Lowering costs for hardworking Nevadans is a top priority for me. It's why I voted to cap the cost of insulin for seniors & allow Medicare to negotiate lower drug prices. But we still have more work to do to bring costs down for ALL Nevadans.
Amneal, US FTC win order removing Teva inhaler patents from FDA list https://t.co/9hGb4aR6Hp https://t.co/QMl8XmQSD8
Drugmaker Amneal Pharmaceuticals with the backing of the FTC convinced a New Jersey federal court to remove five Teva Pharmaceutical patents from an FDA list of patents covering Teva's breathing drug ProAir HFA https://t.co/eHhdhZcLQ3 @blakebrittain https://t.co/pwo4TJ4MbS
1. Today a federal court ruled that @TevaUSA must delist 5 unlawful patent listings on asthma inhalers in the FDA’s Orange Book. The judge extensively cited @FTC’s brief noting that improper patent listings block competition and delay cheaper drugs. https://t.co/a1hBDxXFCg
Starting next year, President Biden’s Inflation Reduction Act will cap prescription drug costs for seniors at $2,000 a year – putting money back in their pockets instead of Big Pharma’s.
Trump made promises about lowering drug prices, but President Biden and @HouseDemocrats ACTUALLY GOT IT DONE. Every single Republican in Congress voted against drug price negotiation, a $35 price cap on Insulin, and a $2000 cap on out-of-pocket Rx costs for seniors. https://t.co/6ufi8Xsh9W
🚨BREAKING: The US District Court in New Jersey just invalidated 5 of Big Pharma company Teva's improper inhaler patents -- embracing @FTC's amicus brief in the case. Another big win for @FTC's efforts to crack down on bogus Orange Book patents and lower drug prices👏 https://t.co/Ll5W0TRokB
The abuse of the U.S. patent system by Big Pharma creates monopolies on prescriptions, raising costs for millions of Americans. I'm proud to be leading this effort with @SenWarren to create competition in the pharmaceutical industry and lower costs. https://t.co/7bipcDk2hH
For years Big Pharma abused the patent system and got away with it — stifling competition and keeping drug costs high. But the Biden administration took action. I'm pushing Big Pharma to heed @FTC’s warning and pull their sham patent listings. https://t.co/2xOT1bSHoe
For years, Big Pharma and its army of lobbyists fiercely opposed allowing Medicare to negotiate drug prices, keeping prices sky-high. But thanks to @POTUS, Medicare can now negotiate prices for a select number of very expensive, widely-used drugs. This will save lives.