Coalition Against Socialized Medicine Statement on the First Ten Drugs Selected for the Biden Administration’s IRA Price Controls

ALEXANDRIA, VA, August 29, 2023 – The Coalition Against Socialized Medicine (CASM), a broad coalition of leading conservative groups such as the Conservative Political Action Coalition (CPAC), Heritage Action, FreedomWorks, the National Taxpayers Union, Club for Growth, Citizens Against Government Waste, American Commitment, and the Committee to Unleash Prosperity, has issued the following statement on the Centers for Medicare & Medicaid Services (CMS) naming the first ten drugs to be subject to Medicare price controls, attributable to Jack Kalavritinos, CPAC’s Executive Director, Coalition Against Socialized Medicine.

“President Biden’s Administration’s latest step to insert government bureaucrats into the healthcare system commences today. The so-called ‘Inflation Reduction Act’ (which failed to reduce inflation but did pay for the Green New Deal) authorized government price controls for pharmaceuticals. We know from basic economics that when the government sets prices, supplies dry up, and innovation dies. Nevertheless, the woke progressives in this Administration are charging ahead with the release of the first ten drugs that will be subject to Medicare’s price-fixing program.

Make no mistake; today, champagne corks are popping in the board rooms of giant health insurance companies and those of pharmacy benefit managers. They will reap windfall profits, while seniors will have to deal with shortages of drugs. But as innovation dries up, the true victims will be the patients of the future, who will not benefit from new developments in research, technology, and treatment.”