A NEW LEVER ON HIGH PRESCRIPTION DRUG PRICES

Waxman Strategies has worked with the Laura and John Arnold Foundation to identify the root causes of high price of prescription drugs in the United States and identify smart policy solutions to lower costs and improve access.

One area of considerable promise is the nascent nonprofit pharmaceutical industry – a new model for critical drug development that may have the potential to lower the price of pharmaceutical drugs.

Focus

Nonprofit pharmaceutical companies prioritize access and affordability instead of shareholder returns. In a continuation of our efforts to address the high cost of prescription drugs, Waxman Strategies convened a broad panel of experts to better understand what is needed to engage in early-stage drug development and how the approach to pharmaceutical research is different for nonprofit pharmaceutical companies.

Through this research, the Waxman team uncovered an unfriendly policy environment that may hinder these nonprofit players from making bigger impacts for patients and taxpayers. We then engaged policy experts and lawmakers to begin looking at needed reforms to level the playing field for the nonprofit pharmaceutical sector.

Impact

• Convened a roundtable of nonprofits and biotech consultants with insight into the policy landscape nonprofit pharma acts within
• Published white paper on five major policy areas where nonprofit pharmaceutical companies face barriers and offered policy options designed to address the issues this sub-industry is facing
• Collaborated with the office of U.S. Senator Jacky Rosen to host a congressional briefing to debut the white paper and introduce nonprofit pharmaceutical company leaders to the legislative and advocate communities.
• Worked closely with the staffs of interested lawmakers and provided technical assistance around the non-profit pharmaceutical industry.
• We continue to provide strategic counsel for non-profit pharmaceuticals, along with ongoing advocacy on Capitol Hill.