PhRMA Statement on Medicare Part D Coverage Gap
PhRMA Statement on Coverage Gap Discount Program
Washington, D.C. (May 21, 2010) — Pharmaceutical Research and Manufacturers of America (PhRMA) Senior Vice President Ken Johnson issued the following statement regarding the Medicare Part D coverage gap discount program:
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“America’s pharmaceutical research and biotechnology companies firmly support the Part D coverage gap discount program and are committed to working with the Centers for Medicare and Medicaid Services (CMS) to ensure the program begins in 2011, as set forth in the new health care reform law.
“The discount program will provide access to needed medicines by reducing out-of-pocket costs for eligible Medicare beneficiaries in the coverage gap. Therefore, successful and timely implementation of the program is extremely important.
“PhRMA will continue to consult with CMS, as expressly contemplated in the health care reform law, to identify and address any potential obstacles to timely implementation of the discount program.”
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading pharmaceutical research and biotechnology companies, which are devoted to inventing medicines that allow patients to live longer, healthier, and more productive lives. PhRMA companies are leading the way in the search for new cures. PhRMA members alone invested an estimated $50.3 billion in 2008 in discovering and developing new medicines. Industry-wide research and investment reached a record $65.2 billion in 2008.
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