In President Biden’s Build Back Better agenda that still needs to be negotiated in Congress, Connecticut’s two U.S. Senators said prescription drug price reforms that are included would dramatically reduce costs of drugs for seniors.
Senator Chris Murphy, who sits on the Health, Education, Labor and Pensions Committee, strongly supported including prescription drug pricing in the Build Back Better package. Murphy said it’s a game changer that would get drug prices lower.
“We are going to be able to end price gouging — no more double digit inflation in drugs after this is passed. We are also going to finally let the federal government negotiate the price of drugs,” Murphy said.
He said that would slash costs for seniors and cap out-of-pocket expenses at $2,000 a year. Murphy dismissed concerns that the pharmaceutical industry would be hurt.
“They may have to pay their CEO’s a little bit less. They may return a little bit less to their investors. But there is not going to be an impact on research and development,” Murphy said.
Murphy and Senator Richard Blumenthal visited a community health center in West Haven to highlight the prescription drug provisions for seniors.
New York Congresswoman Kathleen Rice, who has voted against allowing the government to negotiate drug prices, now approves of Biden’s agenda that makes Medicaid Part D drug prices negotiable and lowers the cost of insulin.
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