November 06, 2015

TPP Text Proves Seniors Are Right to Worry About Higher Prescription Drug Prices

After months of secret negotiations, the Obama Administration released the text of the Trans-Pacific Partnership (TPP) trade deal on Thursday.

“Now that the final wording has been made public, we know that seniors are right to be worried about the agreement’s effect on prescription drug prices,” said Richard Fiesta, Executive Director of the Alliance. “Prescription drug prices grew by 13% in the United States last year even without this impediment to affordability.”

The deal provides numerous opportunities for drug firms to contest medicinal purchasing and pricing decisions. It would keep lower cost generics drugs off the market while also lining the pockets of pharmaceutical industry executives.

“Alliance for Retired Americans activists will join with others fighting this bad deal, including working families, public health advocates and environmentalists, to defeat the TPP,” Fiesta added.