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Lowering Prescription Drug Prices

Posted By staff reporter, Tuesday, February 12, 2019

For a long time dropping the high cost of prescription drugs has been a goal of a number of politicians. It came to dinner-table conversation level when when ObamaCare was in the discussion stages back in 2009.

The idea — polls say — resonates with the public.

During the 2016 presidential campaign, President Trump said he wanted something done about the high cost of prescription drugs. His administration put a proposal out for new rules but it didn’t go anywhere.

Now two identical bills have been introduced. One in the House and the other in the Senate.

Three U.S. Senators — two Republicans and a Democrat  — and a couple of dozen of their colleagues from both parties are taking action. Iowa Republican Sen. Chuck Grassley, Utah Republican Sen. Mike Lee and Democrat Sen. Amy Klobuchar of Minnesota have a bill that will help generic drug companies come out with cheaper versions of pharmaceuticals more quickly than they can do now.

Their bill requires the pharmaceutical companies to — at a given time — provide samples to generic drug makers so they can prove their generic drugs are as safe to use as the more expensive versions. These days the pharmaceutical companies tend to drag that process out.

The House bill is exactly the same. It was introduced by Rhode Island Democrat, Rep. David Cicilline and Wisconsin Republican Rep. Jim Sensenbrenner.

That bill was considered by the last Congress but did not get passed.

Source link: Insurance Journal


Tags:  Lowering prescription drug prices 

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