WASHINGTON, D.C. (November 2, 2017) – Pharmaceutical Research and Manufacturers of America (PhRMA) president and CEO Stephen J. Ubl issued the following statement:
“PhRMA applauds the House for taking much needed action to repeal the Independent Payment Advisory Board (IPAB). This Board of unelected bureaucrats was given virtually unchecked power to make decisions that impact more than 55 million Medicare beneficiaries – overruling Congress’ authority over the Medicare program and threatening patient access to needed medicines.
“It is long past time that Congress took action to protect America’s seniors by repealing IPAB, and there has been strong bipartisan support from members of Congress and broad support from stakeholders across the health care sector to eliminate this dangerous Board. We call on the Senate to quickly follow suit.”
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier, and more productive lives. Since 2000, PhRMA member companies have invested more than $600 billion in the search for new treatments and cures, including an estimated $65.5 billion in 2016 alone.
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