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Proposed fed law could lower drug prices for Americans

December 27, 2019 / Guest Opinion
SHARESHARESHARE

Impeachment may be the only thing on the news these days, but it’s certainly not the only thing happening in Congress. On Dec. 12, the U.S. House passed H.R. 3 , the Lower Drug Costs Now Act. This is the most significant stand-alone prescription drug bill to pass either chamber of Congress since 2003. In a nutshell, the Lower Drug Costs Now Act gives Medicare the power to negotiate directly with pharmaceutical companies to bring down the price of some of the most heavily purchased medications in the United States. Medicare is the largest customer of prescription drugs in the country, serving 59 million seniors and people with disabilities, including 1.2 million here in Arizona. Unfortunately, pharmaceutical companies have effectively banned Medicare from negotiating lower prices. Any good business would look to negotiate lower costs because they buy in such volume, but Congress has made that impossible. Under this reform, that will change.