(Washington, D.C.) — Pharmaceutical Care Management Association (PCMA) President and CEO Mark Merritt issued the following statement regarding drug price data from the Bureau of Labor Statistics (BLS):

“The best antidote to high drug prices is more competition. Drug companies only offer deep price concessions when other drugs or biologics that treat the same conditions are on the market.

It’s time to explore new policies at the Food and Drug Administration to accelerate approvals of generics, traditional brands, and biologics so they get to market faster.”