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Issues

Drug Prices

Pill bottles

All patients should have access to affordable drugs that can improve their quality of life.

The drug-pricing system is marked by market failures: The level of competition is insufficient, government-granted monopolies allow drug manufacturers to set prices at will, and special interests wield enough influence to block reform. The result is dramatically inflated drug prices in the U.S. that are double that of 19 advanced industrialized nations.

To rein in rising prices, drug manufacturers must face stronger competition, and where unwarranted patents are found, they must be challenged. We believe a drug’s price should be linked to its clinical value to patients; incentives in the supply chain should encourage use of the most effective and least costly drugs; and exploration of alternative ways to fund innovation is necessary. When there are shortages of life-saving drugs, we will step in to support the manufacturing of these drugs. We believe that purchasers should have more tools to drive down costs, and we seek to empower patient voices.

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110% Increase in the list price of brand prescription drugs between 2012 and 2016
$480B Amount the U.S. spent on drugs and biologics in 2016
1 in 4 Americans who report that they or another family member did not fill a prescription in the past year because of cost
176% Amount by which U.S. pharmaceutical company revenues — driven by high prices in the U.S. — exceeded their global R&D spending