Administration Outlines Plan to Address High Prescription Drug Costs

September 14, 2021

On September 9, the U.S. Department of Health Human Services (HHS) released a report titled, Comprehensive Plan for Addressing High Drug Prices: A Report in Response to the Executive Order on Competition in the American Economy. The report comes following president Biden’s July 2021 Executive Order 14036, “Promoting Competition in the American Economy” (the Competition Executive Order), which directed HHS to publish a report presenting principles of prescription drug pricing reform.

The report identifies three guiding principles for the Agency’s drug pricing plan: 1) make drug prices more affordable and equitable for all consumers and throughout the health care system; 2) improve and promote competition throughout the prescription drug industry; and 3) foster scientific innovation to promote better health care and improve health. The report also outlines specific legislative proposals Congress could enact to lower prescription drug costs that the Biden Administration supports and outlines Administrative action on prescription drug pricing reforms.

The Association for Clinical Oncology (ASCO) remains concerned about the escalating price of drugs, particularly cancer drug treatments. ASCO remains hopeful that the Administration will pursue responsible, comprehensive drug pricing reform that can achieve the dual goals of lowering prices and guaranteeing patients access to the therapies they need.

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