FTC Submits Statement to HHS on its Blueprint to Lower Drug Prices

Federal Trade Commission press release ---------- The Federal Trade Commission responded to the U.S. Department of Health and Human Services’ request for comment to its publication, Blueprint to Lower Drug Prices and Reduce Out-of-Pocket Costs. The publication seeks to “increase competition and end the gaming of regulatory processes that may keep drug prices artificially inflated or hinder generic, branded, or biosimilar competition.” “The Federal Trade Commission is committed to maintaining competition in the pharmaceutical industry,” FTC Chairman Joe Simons said. “The pharmaceutical industry provides American consumers with access to life-saving medicines and significantly affects our economy. Regulatory barriers and abuse of government processes that delay and constrain competition can lead to higher prices and reduce access to those medicines – all to the detriment of consumers. The FTC firmly believes that a vibrant, competitive marketplace offers the greatest benefits to consumers. The Commission’s comments are directed toward that goal.” To learn more click on the picture below to read the release.