A coalition of insurers and medical providers has released a list of steps it believes policymakers could take to lower the cost of prescription drugs, but the main trade group presenting the pharmaceutical industry said the proposals will hold back innovation.

The Campaign for Sustainable Rx Pricing is a coalition "dedicated to improving our health care system and keeping it affordable," according to its website. Members include America's Health Insurance Plans, American Hospital Association, AARP, Federation of American Hospitals and BlueCross BlueShield Association.

In a bid to raise awareness about its signature issues in the current election season, the coalition released a series of proposals Monday it said would lower drug costs. Among suggestions was to speed up the approval process for generic pharmaceuticals, require manufacturers to disclose more information about drug pricing and shorten the 12-year exclusivity period for biologic drugs.

"Every candidate—both Republican and Democrat—has raised the issue of drug prices in speeches as they campaigned across the nation," John Rother, executive director of the coalition, told reporters at a press conference in Washington, D.C. "Voters everywhere are deeply concerned." http://bit.ly/1rhXdEq

Pharmaceutical Research and Manufacturers of America blasted the proposal in a statement released the same day. Senior Vice President Robert Zirkelbach said the coalition's "so-called market-based proposals are nothing more than a litany of new government regulations and mandates that would undermine the competitive market and empower government bureaucrats and insurance companies to make one-size-fits-all treatment decisions for patients.

"Rather than address health care costs holistically, these proposals only apply to the small share of health care spending that goes toward life-saving medicines while exempting the largest health care cost drivers, such as hospital charges, which include significant markups for prescription medicines," he added. http://onphr.ma/24jX29H