Sen. Bernie Sanders and President Biden joined forces Wednesday at the White House, championing the progress they've made on lowering the cost of inhalers and other expenses for Americans with asthma.
Mr. Biden and Sanders also called on Congress and pharmaceutical companies to do more to curb prices.
"Bernie, you and I have been fighting this for 25 years," the president said Wednesday. "Finally, finally we beat big Pharma. Finally. I'm serious. I'm proud — I'm proud my administration has taken on big Pharma, in the most significant ways ever. And I wouldn't have done it without Bernie."
Mr. Biden and Sanders said they are pressuring drug companies that are charging hundreds of dollars for inhalers, and the president is trying to cap costs for insulin to $35. Earlier this year, Sanders and several Democratic colleagues have criticized four major inhaler manufacturers — AstraZeneca, GSK, Teva Pharmaceuticals and Boehringer — for having significantly higher prices in the U.S. than elsewhere. Since then, one inhaler manufacturer has nixed patents, and three of the largest inhaler manufacturers plan to cap the cost of inhalers for many patients at $35 a month, according to a White House official.
The Federal Trade Commission is taking a stand against the validity of drug product patents, including inhalers, in a move to reduce prices and promote competition.
"Last November, the FTC questioned the tactics used by pharmaceutical companies to manipulate patents and prevent affordable generic drugs, such as asthma inhalers, from entering the market," stated Sanders. "By challenging these practices, the FTC has achieved a significant win for the American public. And it's not limited to just inhalers."
During his address, the president mentioned that the inventor of insulin chose not to patent it to ensure widespread accessibility.
"I have some positive news to share," Sanders announced. "Despite the immense wealth and influence of the pharmaceutical industry – with over 1,800 lobbyists in Washington, D.C. – progress is being made by the Biden administration and Democratic lawmakers."
As a result, Sanders highlighted that "the majority of Americans will now only have to pay up to $35 for their inhalers at the pharmacy counter."
According to Mr. Biden and Sanders, Americans are facing higher costs for prescription drugs compared to people in other advanced nations, typically two to three times more. For example, one company charges $9 for inhalers in Germany, while the same inhaler costs $286 in the U.S. This significant price difference affects the more than 27 million Americans who suffer from asthma, as reported by the Asthma and Allergy Foundation of America.
Sanders has been a proponent of establishing a single-payer, national health insurance program, while Mr. Biden has prioritized reducing healthcare expenses in his administration and reelection campaign. Recently, Mr. Biden urged Congress to take action to lower healthcare costs during his State of the Union address, a sentiment echoed by Sanders in his statements. With prolonged high inflation impacting Americans' purchasing power, the administration is working to decrease prescription drug prices.
"Despite our current achievements, more needs to be done," Sanders emphasized. "By joining forces, we can confront the pharmaceutical industry's greed and significantly decrease prescription drug expenses in the U.S. This, in turn, will lead to a reduction in overall healthcare costs for our nation."
