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Waxman Applauds the “Expanding Access to Affordable Prescription Drugs and Medical Devices Act.”

Since its founding, Waxman Strategies has focused on the affordability of prescription drugs as a critical barrier to achieving health equity for all Americans. As our nation reflects on a year marred by the health and economic impacts of the COVID-19 pandemic, the need to ensure access to and reliable supply of affordable drugs and medical devices is more important than ever. The U.S. nonprofit pharmaceutical industry – though encumbered by several policy challenges – has the potential to help address perennial issues around cost and access, in addition to supply chain security issues exacerbated during the coronavirus outbreak.

It is for those reasons that we applaud Senator Jacky Rosen (D-NV) on her introduction of the “Expanding Access to Affordable Prescription Drugs and Medical Devices Act.” If enacted, this pioneering legislation would be the first step to accommodating nonprofit pharmaceutical organizations in their endeavors to introduce low-cost products, expand access to underserved communities, and support the security of the U.S. pharmaceutical supply chain. Waxman Strategies echoes members of an informal coalition of nonprofit pharmaceutical organizations in encouraging Congress to advance this legislation.

In turn, Chairman Henry A. Waxman released the following statement:

“Like the generic pharmaceutical industry, which I helped create through the passage of the Hatch-Waxman Act, nonprofit pharmaceutical organizations are positioned to help address the affordability gaps that remain in the U.S. pharmaceutical market and increase the access that American consumers have to affordable prescription drugs. I believe the ‘Expanding Access to Affordable Prescription Drugs and Medical Devices Act’ is the right first step to support and encourage the manufacturing of pharmaceutical products on a nonprofit basis. I thank Senator Rosen for her leadership on this issue. Our team will continue to encourage Congress to advance this legislation and not miss the opportunity to pass policies that can help alleviate the burden of prescription drug prices.”

Over the past two years, Waxman Strategies has worked with an informal coalition of nonprofit organizations to understand the policy landscape they find themselves in and surfacing policies that directly address the barriers that nonprofits face in bringing low-cost drugs and devices to market. This research culminated in our January 2020 white paper, “Nonprofit Pharmaceutical Companies: Background, Challenges, and Policy Options.”

If you would like to contact the team at Waxman Strategies regarding this work, please reach out to Kahaari Kenyatta (kahaari@waxmanstrategies.com).

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