The Hill: Congress Blogicon
December 15, 2015
by Robert Roach, Jr.
The United States has concluded negotiations on the Trans Pacific Partnership (TPP) trade deal, and on November 5, 2015, President Obama released the text of the agreement. This started a 90-day period for public review before Congress can take an up or down vote. It is a pact of historic proportions involving 12 countries in Asia and the Americas.
Older Americans should be deeply concerned about this deal. If implemented, TPP will maintain high drug prices for America’s seniors and undermine the sustainability of public health programs like Medicare and Medicaid.
The TPP would enact unprecedented protections for Big Pharma. It would lock in patent exclusivity for biologics - specialty drugs used to treat diseases such as cancer and rheumatoid arthritis. Allowing pharmaceutical companies to maintain a monopoly on these drugs before less expensive generic versions can be made by other companies is against the interest of American consumers.