Support Legislation to Reduce Prescription Drug Prices

UPDATE (2/26/19): On Tuesday, February 26th the Senate held hearings on prescription drug pricing with a panel of 7 executives from major pharmaceutical companies testifying to lawmakers on their pricing practices. Demand members of Congress take immediate action to reduce prescription drug pricing.

Rising prescription drug costs continue to threaten U.S. residents’ physical and financial health, leaving millions of Americans unable to afford essential medications. Nevertheless, pharmaceutical companies have continued to increase prices on critical drugs like insulin.

Despite Donald Trump’s vocal campaign promises to limit prescription spending, his administration’s proposed approach does nothing to curb pharmaceutical companies’ ability to set astronomical drug prices. Democrats in the House and Senate have introduced a number of bills designed to meaningfully decrease prescription costs, some of which have bipartisan support from Republicans. A few key proposals from these bills include:

  • Accelerating the process to bring generic drugs to market
  • Limiting consumers’ out-of-pocket spending
  • Allowing consumers to buy lower-priced medications from Canada, in turn driving down prices for US drugs due to increased competition
  • Allowing Medicare to negotiate directly with drug makers to increase transparency and lower prices
  • Requiring brand name drugs to lower excessive prices or face direct competition from generic drugs

As these bills are introduced and considered, constituents must urge their representatives to support legislation to substantively control prescription drug costs.

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