April 26, 2022

Big Pharma’s Lies on Drug Prices Debunked

Last week, the Alliance joined the bipartisan patient coalition Patients for Affordable Drugs Now (P4ADN) as it implemented Debunking Big Pharma Week. Throughout the week, P4ADNow highlighted five of Big Pharma’s biggest lies to shed light on the truth behind important drug pricing reforms.

  • Innovation: While Big Pharma claims that pricing reforms stifle innovation, we can still create innovative medicine at affordable prices.
  • Access: Drug pricing reforms will increase patient access by lowering costs, regardless of what Big Pharma wants you to believe.
  • COVID-19 Vaccines: Even though drug companies claim to have ‘saved the day’ by quickly producing vaccines for COVID-19, the truth is that the taxpayers saved ourselves.

Out-of-pocket costs: Don’t listen when Big Pharma says that patients only care about lowering out-of-pocket costs. We can’t lower out-of-pocket costs without lowering drug prices first.

With Congress so close to passing drug pricing reform for the first time in two decades, Big Pharma has ramped-up its disinformation campaign against any bills that threaten its unchecked power to dictate prices of brand-name drugs.

“Unless we combat the misinformation on lower drug price reforms, older Americans will keep paying exorbitant prices for the medicine they need,” said Richard Fiesta, Executive Director of the Alliance. “We need to allow Medicare to negotiate lower drug prices even if the drug industry tries to trick members of Congress and Senators into maintaining their outrageous profits through inaction.”

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