Statement on Maryland Prescription Drug Affordability Board Upper Payment Limit Vote

Frederick, MD (September 10, 2024) – The Maryland Tech Council, the state’s largest life sciences and technology trade association, today released the following statement regarding the Maryland Prescription Drug Affordability Board’s vote to approve an upper payment limit (UPL) action plan with respect to certain drugs bought by state and local governments.

Statement from Kelly Schulz, Chief Executive Officer:

“As Maryland seeks to expand its global life sciences leadership, we have serious concerns that the Prescription Drug Affordability Board is pursuing policies that will harm our life sciences ecosystem without making medications more affordable for patients.

“We urge that the Board make patient out-of-pocket costs a serious consideration in its Cost Review Study, and to scrutinize the significant impact Pharmacy Benefit Managers have on drug prices and patient affordability. We urge the Board to not take any actions that could potentially compromise access to life-saving medications. We also urge the Board to provide additional detail on what measures, other than UPL’s are under consideration to bring down the costs of prescription drugs for patients. Any analysis that does not include these factors is insufficient to understand what drives the price of a given drug.

“Maryland is rich in assets that make life sciences innovation possible – with 54,000 life sciences jobs and 2,700 life sciences and biotechnology companies developing medications and therapies the world depends on. It is vital that the Board’s decisions not negatively impact an industry that is such a critical asset to Maryland’s economy.”

About the Maryland Tech Council

The Maryland Tech Council (MTC) is a collaborative community that is actively engaged in building strong technology and life science industries by supporting the efforts of our individual members. We are the largest technology and life sciences trade association in the state of Maryland, and we provide value by giving members a forum to learn, share, and connect. MTC brings the region’s community together into a single, united organization that empowers our members to achieve their business goals through advocacy, networking and education. The vision for the Maryland Tech Council is to propel Maryland to become the number one innovation economy for life sciences and technology in the country. For more information: mdtechcouncil.com.