August 3, 2018
The Honorable Jan Schakowsky
2367 Rayburn House Office Building
Washington, DC 20515
Dear Representative Schakowsky,
On behalf of the millions of members and supporters of the National Committee to Preserve Social Security and Medicare, I write to endorse your bill, H.R. 6577, the “Price Relief, Innovation and Competition for Essential Drugs” (PRICED) Act.
The PRICED Act would reduce exclusivity for biologics in the United States from twelve years to seven. Reducing the period that a brand manufacturer could exclusively market a drug in the United States would bring competition to the marketplace sooner, driving down the cost of these often prohibitively expensive therapies.
Your legislation will save money for Medicare and lower seniors’ out-of-pocket costs. The National Committee appreciates your leadership in tackling the pressing issue of soaring drug costs.