Some Relief May Be Coming Soon for High Prescription Drug Costs
Currently there is proposed bicameral legislation designed to increase access to medications and hold pharmaceutical companies accountable for their wrongdoings. The legislation works to reduce costs of prescription drugs by curbing the monopolies of pharmaceutical corporations which is one of the driving factors keeping prescription drug costs high. Additionally, the proposed legislation would impose fines on pharmaceutical companies for price gauging. Most controversially, this bill allows for the importation of prescription drugs from Canada if the drugs meet certain safety requirements. The bill, if passed, ideally would both bring down prescription drug costs and challenge the pharmaceutical industry’s economic and political power. While the bill is still a long way from passing, the prior version of the bill was only narrowly defeated in January.