District of Columbia
Understanding Competition in U.S. Prescription Drug Markets: Entry and Supply Chain Dynamics
Attached are a comment letter and a report from former Congressman Henry Waxman on the drivers and potential actions to address high prescription drug prices. We are submitting these items as comment in response to the FTC Workshop and presentations. We welcome continued discussion on this important issue and applaud the efforts of FDA and FTC in tackling this complex and pressing issue. As an author of the Drug Price Competition and Patent Term Restoration Act of 1984 (also known as the Hatch-Waxman Act), Congressman Waxman is deeply concerned about Americans' access to affordable prescription drugs. The intent of the Hatch-Waxman Act was to achieve a balance between innovation in pharmaceutical development and price competition. The legislation achieved that goal. However, for several reasons, including regulatory "gaming" and misuse by various brand name manufacturers, the balance of incentives and competition has become distorted over time. We hope to continue our conversations with you, your staff, and other federal agencies involved in this difficult issue resolving the imbalances that affecting competition in the prescription drug and biologic markets, as well as the issues that impact drug pricing overall. If you have any questions, please contact Kristi Martin at Waxman Strategies. You can reach her by email at firstname.lastname@example.org or by phone at 202-899-2634. Thank you for your time, attention, and leadership.