This legislation passed by the House will have a profound impact on the health and wellbeing of Americans struggling from the COVID pandemic. In particular, it’s a significant step toward holding Big Pharma accountable for pharmaceutical drug price gouging. Action by Congress to rein in Big Pharma is popular, long-overdue and urgently needed. Already this year, drug companies have increased the price of common medicines by 5% — over twice the rate of inflation — even as our nation’s health programs and systems strain from the burdens of COVID.
Xavier Becerra brings the right skills and experience to the Biden-Harris Administration as it aims to tackle some of the biggest problems facing our nation: a raging pandemic, inaccessible healthcare, and sky-high prescription drug prices. Becerra has a track record of putting the interests of ordinary Americans first — unlike his predecessor Alex Azar — and the Senate must confirm him to be the next Secretary of Health and Human Services.
These drug corporations – the same ones whose actions have cost the lives of more than 750,000 Americans and counting from the opioid epidemic – are now finding ways to reduce their settlements, and leaving taxpayers to make up the difference.
It is disappointing, but sadly not surprising, that in the middle of a global pandemic and economic downturn, Republicans on the Energy & Commerce Committee just voted unanimously against holding Big Pharma accountable for raising prices faster than inflation for patients in Medicaid.
Today, Congresswoman Jan Schakowsky (D-IL) and Democratic colleagues reintroduced legislation to strengthen oversight of federal funds invested in COVID-19 research and development, and to protect patients from being price-gouged on COVID-19 treatments and vaccines developed with taxpayer dollars.
Today, UnidosUS Action Fund and Lower Drug Prices Now released a new report, A Vicious Cycle of Health Inequity, that highlights the disproportionate impact of high prescription drug prices on Latinos in the US, and shows that Latinos overwhelmingly want their elected leaders to take action to lower drug costs.
Each day that goes by, it becomes clearer that urgent action is needed to lower the price of prescription drugs. Americans pay too much for prescription medicines whether out-of-pocket at the pharmacy, through high health insurance premiums, or through taxes to help pay for Medicare as well as an array of tax breaks for the prescription drug industry.