US Congress Continues Push for Lower Prescription Drug Prices

Members of the US Congress aren’t slowing down in the effort towards lowering prescription drug prices, following last year’s Inflation Reduction Act that established the upcoming Medicare drug price negotiations. One bill put forward by Democrats would shorten the timeframe before a drug can be negotiated. A bipartisan effort led by Bernie Sanders (I-VT) and Bill Cassidy (R-LA) will propose four bills related to reducing high drug prices.

According to Kevin Dunleavy, “Sanders’ initiative this week surrounds four bills, including three that would increase access to lower-cost generic medicines. The most impactful bill would likely be the Pharmacy Benefit Manager Reform Act which would increase (PDF) the oversight of PBMs, which are often incentivized to limit access to generics.”

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(Source: Fierce Pharma, April 26^th, 2023)