TPP will raise drug prices for seniors

By John A. Pernorio
Posted 11/19/15

Negotiations on the Trans-Pacific Partnership (TPP) were just completed. This trade agreement, which would encompass 40 percent of the global economy, has been negotiated in secret for several years …

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TPP will raise drug prices for seniors

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Negotiations on the Trans-Pacific Partnership (TPP) were just completed. This trade agreement, which would encompass 40 percent of the global economy, has been negotiated in secret for several years now. The details we do know about have come from leaks – and it doesn’t look good.

Pharmaceutical interests are pushing for a lengthy period of patent exclusivity for certain types of drugs into the TPP agreement, far beyond what they have today. This will keep drug prices high by making it more difficult for other companies to manufacture the cheaper generic versions of drugs.

Furthermore, TPP will jeopardize the government’s ability to list and price prescription drugs in public programs, like Medicaid, which millions of seniors and disabled people rely on.

The members of the Alliance for Retired Americans will be paying close attention to what our representatives do and so should anyone else who needs Medicare or prescription drugs.

So-called free trade deals have been a bad deal for working people, from NAFTA to CAFTA, to the most recent agreements with South Korea and Colombia. Congress must stand up to the powerful corporations and CEOs pressing for the TPP and put the health and well-being of older Americans first.

 

John A. Pernorio is president of the Rhode Island Alliance for Retired Americans

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