Antidote to rising drug prices languishes in Congress

Cleveland Clinic Chief Pharmacy Officer Scott Knoer, M.S., Pharm.D., writes in The Hill:

 

Scott Knoer, M.S., Pharm.D., Chief Pharmacy Officer

“Two new proposals from the Trump administration (aimed at lowering drug prices) … should be celebrated. However, neither strategy will halt egregious price increases or bring down overall health care costs bloated by unsustainable drug prices. Prices for the top 20 most-prescribed brands continue to rise at the rate of 12 percent per year or roughly 10 times higher than the average annual rate of inflation.

There’s more to do. The good news is that much of the heavy lifting has already taken place. One simple, effective tool is sitting right in front of Congress and the White House.

It’s called the CREATES Act of 2018. It’s bipartisan. It’s taking aim at drug prices by restoring true competition to the marketplace. And the Congressional Budget Office scored it as a $3.9 billion money-saver.”

Read the entire piece at: Antidote to rising drug prices languishes on the Hill