Marcy Kaptur has long been a forceful critic of the North American Free Trade Agreement because of unfair policies that have hurt American workers. President Trump campaigned on the issue, promising to be an advocate for fair trade. Two years, disastrous trade wars, and a renegotiated NAFTA 2.0 deal later, we now know that he has broken those promises.
President Trump’s USMCA would grant Big Pharma companies a 10-year monopoly over a class of drug known as biologics, medicines which are made from living cells. Biologics are some of the most expensive drugs today, with prices ranging from $20,000 to $850,000 per drug patient. These are drugs used by chronically ill patients, including those battling cancer. Once locked in, the international trade agreement would leave congress unable to change these terrible policies, leaving patients on the hook to pay even more for these life-saving drugs.
As Congresswoman Kaptur warns, “Two-thirds of drugs prescribed under Medicare Part B are biologics. The extension of Big Pharma’s power under NAFTA 2.0 will delay the market entry of generic and biosimilar drugs into the market, creating a minimum 10-year monopoly for Big Pharma.”
Congresswoman Kaptur urges the Trump Administration to reopen the negotiations to avoid another windfall for the big pharmaceutical companies.