Americans pay the highest prescription drug prices in the world. This must change!
All across the country, Americans are finding that the prices of the prescription drugs they need are soaring. Tragically, health care providers tell us that many of their patients can no longer afford their medicine. As a result, some get sicker and wind up in expensive hospital emergency rooms at a great cost to our health care system.
That should not be happening in the United States of America -- but it is.
That is why I have introduced the Prescription Drug Affordability Act of 2015, which would:
- instruct the Secretary of Health and Human Services to negotiate drug prices under the Medicare Part D prescription drug program;
- allow individuals, pharmacists, and wholesalers to import prescription drugs from licensed Canadian pharmacies;
- require pharmaceutical companies to publicly report information that affects drug pricing, as well as require companies to submit prices, profits, and sale information in other countries in which those products are sold;
- restore the minimum rebate on drugs covered under Medicare Part D for low-income Medicare beneficiaries, which would save $103 billion over 10 years;
- close the Medicare Part D donut hole for brand and generic drugs by 2017;
- prohibit pay-for-delay deals between brand and generic drug makers where the brand name drug manufacturers pays the generic manufacturer to delay bringing their generic alternative to market – saving taxpayers at least $3.5 billion in higher drug costs every year;
- create stricter penalties for fraud convictions of major branded drug makers.