Sky High Prescription Drug Price Hearings Hosted By Rep. Eshoo

PALO ALTO, CA -- U.S. House Energy and Commerce Health Subcommittee Chairwoman Anna G. Eshoo, (D-Palo Alto), hosted Tuesday 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, brand manufacturers’ use of payoffs to delay generic drugs and the transparency of drug patents.

Americans spend more on prescription drugs than citizens of any other country in the world. Pharmaceutical spending exceeded $1,000 per person in 2015 - up from only $224 in 1995 and representing a 346 percent increase. Critical medication for illnesses like cancer routinely costs $10,000 a month. The bills considered before the Health Subcommittee will be the first of many intended to rein in drug prices.

As chairwoman of the Energy and Commerce Health Subcommittee, the congresswoman has also held three legislative hearings to address the perceived sabotage of the Affordable Care Act. There was also a hearing on U.S. President Donald Trump's 2020 budget slashing Medicare and Medicaid, along with the National Institutes of Health's deep cuts.