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Rep Anna Eshoo

ESHOO HOLDS FIRST HEARING OF 116TH CONGRESS ON LEGISLATION TO LOWER DRUG PRICES

March 13, 2019
WASHINGTON, D.C. — Today Energy and Commerce Health Subcommittee Chairwoman Anna G. Eshoo (D-CA) held the first legislative hearing of the 116th Congress to consider legislation to lower the price of prescription drugs.

"The American people have been subjected to the abuse of the patent system by brand and generic companies that enter into agreements and employ tactics that block competition and keep prices high," Eshoo said. "The bills we're considering today address these tactics and will inject competition in the system sooner, move drugs to the market more quickly, and lower costs."

Video from the hearing can be found HERE.

The Energy and Commerce Health Subcommittee considered seven bills to lower costs for patients. The bills address several issues, including barriers to generic drug development and entry to the market, brand manufacturers' use of payoffs to delay generic drugs, and the transparency of drug patents that are active and those that are set to expire.

Americans spend more on prescription drugs than anyone else in the world. Pharmaceutical spending exceeded $1,000 per person in 2015, up from only $224 in 1995, representing an outrageous 346% increase. Critical medication for illnesses like cancer routinely cost $10,000 a month. The bills considered before the Health Subcommittee will be the first of many to rein in out-of-control drug prices.

As Chairwoman of the Energy and Commerce Health Subcommittee, Rep. Eshoo has also held three legislative hearings to address the sabotage of the Affordable Care Act, and a hearing on the President's FY2020 budget that slashes Medicare and Medicaid, and includes deep cuts to the NIH.

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