May 12, 2022
The Honorable Jan Schakowsky
2367 Rayburn House Office Building,
Washington, DC 20515
Dear Representative Schakowsky,
On behalf of the National Committee to Preserve Social Security’s millions of members and supporters, I write to endorse the Price Relief, Innovation and Competition for Essential Drugs (PRICED Act).
The Act would reduce the period after Food and Drug Administration approval where a brand manufacturer could exclusively market their drug in the United States from 12 years to five years. This reduced exclusivity period would hasten the introduction of lower cost biosimilars to the market, helping bring down cost for consumers.
The soaring costs of prescription drugs is one of the top issues seniors are most concerned about. The National Committee applauds your leadership in reining in outrageous drug prices and lowering costs for consumers.
Max Richtman President and CEO