The Affordable Prescriptions for Patients Act of 2023 Reflects a Misunderstanding of Biopharmaceutical Innovation and Would Harm Patients…

CIFE has weighed in on past proposals that threaten intellectual property.

“Anti-intellectual property proposals would give the Federal Trade Commission authority to label modifications and incremental improvements to an existing drug as anti-competitive “product-hopping.” American innovation is between a rock and a hard place under threat of presumptive anti-trust action as well as foreign price controls.”

CIFE opposes the product hopping provisions in the Affordable Prescriptions for Patients Act. These provisions would create a presumption of anticompetitive behavior for biopharmaceutical inventions that benefit patients. In doing so, it could threaten efforts to invent, develop, and produce much needed medications for all Americans. This bill is particularly harmful in the wake of the Inflation Reduction Act which is already forcing companies to make hard choices when it comes to R&D investment. The Affordable Prescriptions for Patients Act of 2023 would significantly go beyond current law, limit research and development and effectively harm patients.