September 13, 2024 (Washington, DC) The Partnership to Fight Chronic Disease (PFCD) released the following statement upon delivery of a sign on letter to Congress from more than 30 patient and consumer advocacy groups calling for support of the bipartisan Ensuring Pathways to Innovative Cures (EPIC) Act, HR 7174:
“The Inflation Reduction Act (IRA) has begun to impact medicine costs for beneficiaries, notably capping insulin costs at $35 per month for Medicare enrollees and setting a $2,000 annual limit on out-of-pocket prescription drug costs starting in 2025. While these measures provide significant savings, the IRA has unintended consequences, particularly in steering research funding away from certain types of drugs.
“In particular, the IRA enables Medicare to set prices for certain prescription drugs but sets different timelines for doing so: 13 years for biologics and only 9 years for small molecule drugs. This discrepancy discourages investment in small molecule medicines, which often come in pill form and are therefore more accessible and convenient for managing chronic conditions compared to biologics, which often require a physician to administer them.
“The IRA's implementation is already affecting R&D decisions and investments to favor biologics over small molecules for many chronic diseases. This shift could harm patients who rely on the convenience of being able to take medicines at home. Small molecule medicines are also adept at crossing the blood-brain barrier, which allows them to be used in the treatment of neurological conditions such as epilepsy, Parkinson’s disease, depression and other mental health conditions.
“To correct this imbalance and improve the lives of the millions of individuals and families managing chronic conditions across the US, a bipartisan bill called the EPIC Act proposes equalizing the timeline for Medicare drug pricing at 13 years for both small molecules and biologics. This would encourage continued investment in small molecule drugs to address unmet medical needs and preserve access to the next generation of innovative medicines for patients.”
For the full letter to Congress and more information on the value of small molecule medicines for millions of people living with chronic disease across the US: https://www.fightchronicdisease.org/resources/EPIC-Act.
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