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Americans pay the highest prices in the world for prescription drugs. It is outrageous that, while American taxpayers subsidize the development and the advertising of these drugs, we still pay higher prices than anyone else. Click
Here to Join the Prescription Drug People's Lobby and Make your voice
heard! We all realize that when prescription drugs are unaffordable, it means they are unavailable to those who need it most. For businesses and families with insurance, it means we pay higher premiums and have fewer choices. For senior citizens and others without insurance, it means they often have to make a choice between taking their prescriptions and paying their monthly bills. I am proud to be leading a Senate Prescription Drug Task Force that is bringing attention to this alarming problem and pushing for legislation that will help reduce medication prices now.
Modernize Medicare to Include Prescription Drug Coverage In 1965, Medicare was created to cover the way health care was provided at that time. You went to the hospital. You might get a shot of penicillin, and have various procedures done while you were at the hospital. Health care in 2002 is very different. Many medical procedures of the 1960s have been replaced by drug therapies. These miracle cures have helped extend and improve the lives of millions of Americans. But Medicare has never been updated to include outpatient prescription drug coverage. Senior citizens, many of whom live on fixed incomes, are especially effected by this lack of coverage. We need to modernize Medicare to cover the way health care is provided today. As a part of this effort, I am an original sponsor of S.2625, the Medicare Outpatient Prescription Drug Act of 2002, which would create a new prescription drug benefit as a part of the Medicare program.
1.) Reimportation from Canada: The first bill I introduced as a U.S. Senator was the Medicine Equity and Drug Safety Act (S.215) that would allow individuals and wholesalers to reimport medications from other countries in order to sell them in the U.S. at lower prices. Prescription drug prices in Canada are much lower than they are here. By allowing reimportation, it will encourage real competition in the drug industry and lower the prices of drugs in the United States. I have also cosponsored the Prescription Drug Price Parity for Americans Act (S.2244) that will allow ndividuals, wholesalers and U.S.-licensed pharmacists to reimport prescription drugs from Canada. Click here for more information on reimportation... 2.) Improve Access to Generic Drugs: the Congressional Budget Office estimates that the use of non-brand-name pharmaceuticals could save between $8 billion and $10 billion per year. Current law contains loopholes allowing drug companies that own patents on brand-name drugs to postpone and extend the process for approving the generic equivalents of their drugs. These tactics allow the big pharmaceutical companies to continue selling their brand-name products at extremely high prices long after the patents have expired. The Greater Access to Affordable Pharmaceuticals Act (S.812), which I am cosponsoring, will close the loopholes in the approval process for generic drugs. This will allow generic drugs to come to the market in a timely manner and dramatically reduce prices for consumers. Click here for more information on generics legislation... 3.) The Fair Advertising and Increased Research (FAIR) Act: Advertising is increasing dramatically and leading to soaring drug prices. In 2000, 11 Fortune 500 drug companies spent an average of 30% of their revenues on marketing, advertising, and administration and only 12% on research and development. Drug companies can deduct from their taxes the amount spent on advertising and the amount spent on research and development. I have introduced the Fair Advertising and Increased Research Act - also known as the FAIR Act - that will limit the amount of tax deductions pharmaceutical companies can take for advertising expenses to the same amount of tax deductions they can take for research and development. Click here for more information on the FAIR Act... American taxpayers should not have to subsidize excessive advertising that only leads to higher prices at the pharmacy counter. 4.) State Discount Plans: One of the biggest challenges facing state governments -- as well as businesses, senior citizens, and families -- is the rising cost of prescription drugs. From 2000-2001, prescription drug prices rose 17 percent. This is causing health expenditures and health insurance premiums to go up very rapidly. In an attempt to respond to these skyrocketing prices, 30 states have enacted laws providing some type of prescription drug coverage to those without insurance, according to the National Governors' Association (NGA). However, the drug makers' trade association (PhRMA) has mounted legal challenges against several states because it opposes state efforts to lower prescription drug prices and increase coverage for those without it. Specifically, they have filed lawsuits against Maine and Vermont because the drug lobby does not want to extend Medicaid rebates and discounts to non-Medicaid recipients. In the face of soaring prescription drug prices and the
absence of a Federal Medicare prescription drug benefit, states should
have the unfettered ability to pass on Medicaid rebates to their residents.
Even if Congress passes a Medicare Rx program, it will be several years
before it is fully phased in. The Rx Flexibility for States Act would clarify current laws that may prevent states from providing lower-priced prescription drugs to all their citizens. Specifically, states would be able to extend Medicaid rebates and discounts for prescription drugs to non-Medicaid eligible persons. Click here for more information on state discount plans...
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