Feb. 01, 2024
FOR IMMEDIATE RELEASE
Washington, DC (Feb. 01, 2024) – We Work For Health has issued the following statement from Executive Director Dan Leonard in response to Reps. Greg Murphy, M.D. (R-NC), Don Davis (D-NC) and Brett Guthrie (R-KY) introduction of the Ensuring Pathways to Innovative Cures (EPIC) Act, regarding the Inflation Reduction Act and small molecule drugs:
“One of the most punishing consequences of the Inflation Reduction Act has been the differentiation and decrease in the amount of time before the government can impose price setting for small molecule pills (nine years) and biologics (13 years). Prior to the IRA, all new prescription drugs received 14-plus years of market exclusivity before the patent gave way to generic competition. This ecosystem thrived. Manufacturers earned equal time to recoup returns on novel discoveries and to reinvest in new research and expansion initiatives.
“The IRA’s backward logic severely compromises small molecule drugs – which are far more practical, affordable and convenient – and ultimately undermines the goal of promoting health and wellbeing for all Americans. Reps. Murphy, Davis and Guthrie’s introduction of the Ensuring Pathways to Innovative Cures (EPIC) Act is a positive first step toward remedying this damaging disparity.
“We must encourage scientists and investors to pursue small molecule research and protect America’s global leadership in life sciences. Ensuring medications remain available, accessible and productive is something all policymakers from both parties can and should easily support.”
About We Work For Health
Since 2007, We Work For Health (WWFH) has been bringing together national and local business leaders, labor, biopharma, patient advocacy, and other healthcare-related stakeholders. WWFH is dedicated to promoting policies and initiatives that not only foster innovation and facilitate the delivery of lifesaving or life-enhancing medicines, but also value both the workforce and significant contributions of the biopharmaceutical sector to economies at the national, state, and local levels.
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