Yesterday, December 16th, a number of consumer groups and unions submitted a letter in support of H.R. 5304, a bill to regulate pharmacy benefit managers (PBMs) and lower drug prices. They urged that the proposal be included in the end of year spending bills and passed as soon as possible. The letter was signed by Consumer Action, Consumer Federation of America, End AIDS Now, People's Action, SEIU (Service Employees International Union), and Treatment Action Group. Representa

Yesterday, on Thursday, December 12th, the House of Representatives passed HR 3, Speaker Nancy Pelosi's bill to lower prescription drug prices by giving Medicare the power to negotiate with drug companies. The bill passed by 230 to 192 along with party lines, with almost all Democrats supporting the proposal and almost all Republicans opposing it. Americans overwhelmingly support congressional action to reduce drug costs. President Trump initially seemed supportive of Medicar

This morning, the Bipartisan Policy Center held a forum called "Examining Pharmaceutical Patent Practices & Their Impact on Drug Prices." Over a two hour session, administrative officials and experts examined patents, exploitation of loopholes by drug companies, and how this contributes to higher drug prices. Several professors offered suggestions on how to fix this problem and bring down drug costs. The first panel had Dr. Avik Roy, along with Marcus Meier, Acting Director o

Recently the Massachusetts Senate, spurred by rising drug prices and federal inaction, passed a sweeping bill to reduce prescription drug costs. The vote was 40-0. Among other things, the bill requires the Massachusetts Division of Insurance to license and regulate pharmacy benefit managers (PBMs) and establish sanctions for PBMs that fail to meet certain standards. This is an essential part of bringing drug prices down. Both drug companies and PBMs bear responsibility for ou