Congress can put end to Americans suffering due to soaring drug prices (Lucretia Young)
(Lucretia Young is the Delaware State Director for AARP.)
“For decades, big drug companies have raised drug prices while thousands of people in Delaware are struggling to make ends meet.” Paragraphs follow about specific problems of individuals who are paying more than they can readily afford for pharmaceuticals. What’s the root cause? Prices are set too high when new drugs are first introduced, and they are then increased faster than inflation year after year. So AARP launched a nationwide campaign called “Stop RX Greed” to rein in drug prices for all Delawareans and All Americans, and there is now a bill under consideration in the US Senate that would cap out-of-pocket drug costs for seniors and crack down on drug makers whose prices outpace inflation. See also: Lower prescription drug prices, aarp.org, accessed 9/2/19. Big Pharma has turned out their lobbyists in droves and even sued the Trump administration so they could keep the list prices of their drugs secret from the public. But the tide is turning. So far this year, for example, 29 states have passed 47 new laws aimed at lowering prices for prescription medications. And the president addressed the issue in his State of the Union address.
We urge Congress to pass the Prescription Drug Pricing Reduction Act in the fall, when the House is expected to act on its own drug pricing bill. This legislation should be at the top of the agenda.
COMMENTS: No mention of the drawback of price controls, notably supply shortages. Compare: Josh Hawley and Rick Scott’s bizarre support for socialist price controls [on drugs], Noah Wall, Washington Examiner,8/30/19.