WHEREAS, Drug prices in the United States are far too high and rising far too quickly for the average consumer. Four of the top ten prescription drugs used by Americans have risen in price by more than 100 percent since 2011 with no end in sight. In just the 12-month period ending in May 2016, drug prices rose an average of nearly 10%, a time while food and alcohol prices rose just 2.8%, and clothing and accessories rose by 5.7%; and
WHEREAS, The fact that more Americans have high-deductible health insurance plans makes the situation more painful, as they are now more likely to be responsible for the full cost of prescriptions; and
WHEREAS, We have recently seen price gouging most recently with Mylan’s pricing of EpiPens, with the cost going from $50 last year to $600 this year. This 1,100% surge in price is wholly unrelated to market forces, and $600 for a medication that has not changed in years is not only unfair, but also unsafe for consumers who desperately need treatment; and
WHEREAS, On a human level, this system is dangerous, and potentially life-threatening for patients with chronic conditions. On an economic level, this system is also harmful for our businesses and overall economy at a local, state, and federal level; and
WHEREAS, There are realistic solutions to this problem. Federal regulation can and should demand increased transparency from prescription drug companies. Generic drugs could be brought to the market faster and in a less expensive way. Patients could be offered more options in their drug treatments to encourage competitive pricing. Pharmaceutical companies could also be held to higher price-value standards; now, therefore, be it
RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That Council urges Congress to pass legislation that will increase the transparency and competitiveness of domestic prescription drug pricing.
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