President Joe Biden is making sure Americans get their prescription drugs at lower prices.
The administration’s measures to cap skyrocketing prescription drug prices are in the Build Back Better (BBB) act. Last week, at a speech in Virginia, Biden called for congressional support for his plan, explaining how medicines can become more affordable.
The plan is not approved yet but the administration is trying to send a strong signal about its commitment to bring down the cost of prescription drugs.
Currently, the National Institute of Health (NIH) is evaluating a petition about the common prostate cancer drug Xtandi (enzalutamide) that would offer the Biden administration an opportunity to intervene in a case of price gouging, according to Quartz, a valuable resource for professionals in search of new approaches to business.
The administration should start their campaign with Xtandi and set an important example against unjustified drug pricing.
Astellas Pharma, a Japanese company, develops Xtandi, which is prescribed for advanced prostate cancer. It has been found highly effective at extending the life of patients by many years.
In the United States, Xtandi costs more than $500 a day, while in many other high-income countries, it costs anywhere between $80 and $160 per day. This makes the drug inaccessible for many American patients who need it, per Quartz.
The NIH’s Xtandi petition has asked that the federal government exercise its rights by revoking the exclusive license and allowing the two manufacturers to market generic enzalutamide, which has already received approval from the Food and Drug Administration (FDA). Generic Xtandi could cost as little as $3 per pill.
Some activists hope that the results will be different this time when NIH addresses the petition in the coming days.
The decision falls on the NIH and the Health and Human Services Secretary Xavier Becerra, but the issue is very close to Biden’s package that he will likely be involved in it. For more information, check the article titled “Biden’s quest to lower drug prices should start with the prostate medication Xtandi,” published Tuesday in Quartz.
