Washington, D.C. \u2013<\/b>\u00a0National Association of Manufacturers President and CEO Jay Timmons released the following statement in response to today\u2019s White House announcement seeking to impose price controls on biopharmaceutical manufacturers:<\/p>\n
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\u201cManufacturers support the Trump administration\u2019s commitment to lowering health care costs and ensuring American patients can access life-saving medicines. But European-style price controls will stifle innovation\u2014undermining R&D and limiting future access to breakthrough treatments.\u00a0<\/p>\n
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\u201cManufacturers are working to reduce health care costs across the industry\u2014for companies and for workers. That\u2019s why the NAM supported expansions of telehealth coverage and increases to HSA amounts in H.R. 1, and it\u2019s why policymakers should target the real drivers of cost\u2014pharmacy benefit managers, and abuse of the 340B program\u2014instead of imposing mandates on innovators.<\/p>\n
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\u201cManufacturers and manufacturing workers are facing rising health care costs because of underregulated middlemen like PBMs and the 340B program, both of which have increased prices for patients without producing a single treatment. Rather than punishing the innovators who develop life-saving and life-changing medicines, policymakers should focus on the real inefficiencies and distortions in the system.<\/p>\n
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\u201cManufacturers have long championed patient-first solutions that lower costs, strengthen American competitiveness and drive innovation. As we have underscored<\/a>, there is a better way forward. Manufacturers remain committed to working with the administration and Congress on solutions that bring down prices while preserving our global leadership in innovation.\u201d<\/p>\n \u00a0<\/p>\n -NAM-<\/b><\/p>\n