March 2, 2022

PBGH Statement on President Biden’s Promise to Lower Drug Costs

In his first State of the Union address last night, President Biden called on Congress to pass legislation to lower the cost of prescription drug costs. This comes at a time when high prescription drug costs continue to bankrupt families, put financial strain on businesses and drag down the U.S. economy.

The President and congressional leaders promised to lower the amount working families pay for prescription drugs. They now have an opportunity to revive the landmark drug-pricing reforms that nearly passed last year, and to change the longstanding paradigm in the U.S. that has prevented meaningful action to lower drug prices. There is strong bipartisan support among voters to fix the problem of high drug prices; this is the moment for action.

The Purchaser Business Group on Health calls on Congress to fulfill its promise to lower the amount working families pay for prescription drugs and to continue to pursue policy solutions that contain drug prices. In the name of fairness, these solutions must apply to all Americans – the 180 million workers and families who receive health coverage through employers as well as Medicare beneficiaries.