Arnold Ventures Commends Senate on Unanimous Passage of the Affordable Prescriptions for Patients Act
Statement from Mark E. Miller, Executive Vice President of Health Care at Arnold Ventures.
WASHINGTON D.C. (Jul. 11, 2024)- “Reforms to patent law are vital to lowering prescription drug costs, and the Senate’s unanimous passage of legislation to prevent pharmaceutical companies from employing ‘patent thickets’ to extend market exclusivity and block competition is an important step in helping to ensure Americans have access to medications they can afford.
Arnold Ventures commends the Senate and lead sponsors Senators Cornyn and Blumenthal for taking action to help reduce anticompetitive practices and lower costs for patients and taxpayers. We hope the House will act to pass this legislation. We encourage Congress to continue to build upon this momentum and consider additional bipartisan reforms, including establishing an interagency task force to share information, ending pay-for-delay deals, and halting the use of objectively baseless citizen petitions aimed at interfering with a competitor’s patent application.”
Read more on the how reforms to patent law can help Americans save money on prescription drugs.
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Arnold Ventures is a philanthropy that supports research to understand the root causes of America’s most persistent and pressing problems, as well as evidence-based solutions to address them. By focusing on systemic change, AV is working to improve the lives of American families, strengthen their communities, and promote their economic opportunity. Since Laura and John Arnold launched their foundation in 2008, the philanthropy has expanded, and Arnold Ventures’ focus areas include education, criminal justice, health, infrastructure, and public finance, advocating for bipartisan policy reforms that will lead to lasting, scalable change. As signatories of the Giving Pledge, the Arnolds have committed to giving away most of their wealth during their lives.
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