WASHINGTON — The Pharmaceutical Care Management Association, PCMA, applauds Senators Maggie Hassan (D, N.H.) and Mike Braun (R, Ind.) for recently reintroducing legislation, the Prescription Drug Competition Act, which aims to encourage greater competition in the prescription drug market that is critical to helping lower costs. The bill targets potential abuses of Risk Evaluation and Mitigation Strategy (REMS) regulations “to close a loophole that Big Pharma can exploit to block competition from better alternative drugs, including generic drugs, and keep drug prices high,” according to a press release on the legislation from Senator Hassan.

“Pharmacy benefit companies believe increasing competition in the prescription drug market is the key to further lowering costs for patients. Increasing competition requires policies that prevent anti-competitive practices used to blunt competition,” PCMA stated. “Pharmacy benefit companies are committed to securing lower drug costs, and we look forward to working with policymakers to advance policies to achieve greater competition.”

Statements from Sens. Hassan and Braun

Senators Statement on the Legislation

Learn more about PCMA’s public policy solutions that promote competition in the prescription drug market HERE.