Lowering Prescription Drug Prices
The decision between filling a prescribed, even lifesaving, medication or foregoing our medications altogether is tough. Many of us Michiganders have been there.
That’s because, if you’re like the majority of Americans, you’ve noticed the prices on the bottom of your receipt have skyrocketed. Drug companies have simply made it too expensive to get the medications we need to stay better and stay well.
It’s time to give Michiganders relief because lives depend on it.
Michigan residents pay the fifth highest prescription drug costs in the nation, and nearly one in five Americans don’t fill their prescriptions because they didn’t have enough money.
In 2016, the amount spent on prescription drugs reached historic levels to more than $450 billion, and many experts estimate that those costs will grow to $610 billion by 2021.
For far too long, the prescription drug industry has used taxpayer money to develop drugs while at the same time raising prices on consumers. While research is critical, it should not happen on the backs of Michiganders.
Nobody should not be forced to choose between prescriptions and basic needs.
We will work with the pharmaceutical industry to find a solution that promotes research and holds companies accountable for rising prescription prices:
Require transparency from prescription manufacturers. Pharmaceutical companies should show how prescription costs are determined and where money is spent. Determining the costs of developing, researching, producing and marketing a drug will bring greater transparency and help mitigate costs.
Justify price increases. Grant the Michigan Attorney General the authority to require drug manufacturers, particularly those with products incorporated in state-run health programs, to explain dramatic price increases.
Import safe prescription drugs from Canada. Importing safe prescription drugs would promote increased competition in the marketplace, which could lead to lower prices at the pharmacy counter.
The skyrocketing price of many prescription drugs is an issue that affects everyone, regardless of hometown, age, race or income level. It is particularly hard on our most vulnerable populations — people who are already struggling to make ends meet. That’s why we are committed to collaboration with consumers and the pharmaceutical industry to find a solution that works.
Change happens one person at a time.
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