MASSPIRG calls for lower prescription drug prices

MASSPIRG’s Legislative Director, Deirdre Cummings testified before the Joint Committee on Financial Services urging state lawmakers to lower the cost of prescription drugs.

We live in a country with some of the best hospitals, doctors, and medical technology in the world. But the simple truth is that Americans pay too much for health care and get too little in return. Our healthcare system is riddled with perverse incentives that increase costs without improving quality. We need to start making smarter investments that result in higher-value care.

Pharmaceutical spending continues to rise, outpacing other health care spending in Massachusetts. The rising cost of prescription drugs are the leading driver in rising overall health care costs affecting consumers, employers, and taxpayers.

H.945, An Act to ensure prescription drug cost transparency and affordability (Rep. Barber) will protect consumers within the broken prescription drug market place by authorizing the Health Policy Commission to conduct affordability reviews of certain prescription drugs and engage drug manufacturers in lowing prices if they are deemed unreasonable or excessive. This bill would enhance drug price transparency to better understand what is driving high and increasing prices, and increase oversight over pharmacy benefit managers (PBMs) through state licensure. Finally, the bill will ensure consumers know their lowest cost options for their prescriptions at the pharmacy.

Photo by TPIN staff | TPIN