Statement by Healthcare Leadership Council President Mary R. Grealy on Presidential Address on Drug Prices

President Biden is absolutely correct in praising the extraordinary efforts of America’s biopharmaceutical companies in developing vaccines and therapies to combat the COVID-19 pandemic.  It cannot be forgotten, though, that millions are still losing their lives and seeing their possibilities limited by a plethora of debilitating diseases from cancer to Alzheimer’s, from heart disease to autoimmune illnesses.  Maintaining a robust pipeline of new treatments and cures hinges on continued incentivization of research and development investment.

Healthcare Leadership Council member companies from all health sectors are eager to work with the Administration on achieving greater healthcare accessibility and affordability.  We urge policymakers to focus on actions that can make a real-world difference in patient and consumer lives, rather than pursuing the unwise (fundamentally altering a Medicare Part D prescription drug program that is both successful and popular among seniors) and the unworkable (importing drugs from Canada, whose government has said it will not deplete supplies to meet U.S. demands).

A recent survey showed that 87 percent of seniors in the U.S. are satisfied with their Medicare prescription drug coverage and 85 percent said they are getting a good value.  Further, only 30 percent said they supported giving the government greater power over drug pricing and access.  Instead of fighting a non-existent Medicare drug pricing crisis, let’s engage in a public-private collaborative effort to develop patient-centered policies to make quality healthcare more accessible and affordable for all.

For Immediate Release
August 12, 2021
Contact: Kelly Fernandez  202-449-3452