Congress is proposing a dangerous plan to adopt an International Pricing Index (IPI) model — a shortsighted solution that would base prices for medicine sold in the U.S. on the policies of foreign governments.
This proposal, if pursued, could put patients at risk. Why?
- It could delay patient access to life-saving treatments. According to the Pharmaceutical Research and Manufacturers of America, patients living in the 14 countries that have adopted the IPI model often experience years-long delays in gaining access to new and innovative treatments, leading to lower survival rates for many of the world’s deadliest diseases.
- It likely would not lower patients’ costs. Even though this radical bill would set drug prices for everyone in the U.S., less than 1% of seniors on Medicare would see reduced out-of-pocket costs.
- It could jeopardize the development of new cures. This model could lead to an estimated reduction of 5% to 10% in research and development overall, leading to fewer important new treatments brought to market for patients with unmet medical needs.
Adopting foreign pricing controls like the IPI model could result in serious, unforeseen consequences for patients and the entire U.S. healthcare system. To lower healthcare costs, Congress should pursue market-based reforms rather than this misguided government power grab.
If you oppose the IPI model, tell your representative to reject the proposed drug pricing bill (HR 3) that would put foreign pricing control into effect. Take action, now!
This effort is supported by Pfizer – Ready for Cures.