Mobile Menu - OpenMobile Menu - Closed

ICYMI: Rep. Kind Pushes to Allow Medicare to Negotiate Drug Prices

February 7, 2020
Press Release

Washington, DC—Yesterday, the Ways and Means Health Subcommittee held a hearing to discuss the high cost of prescription drugs and the effects on patients. During the hearing, Rep. Ron Kind pushed for the need to allow Medicare to negotiate with pharmaceutical companies and dispelled myths that lowering prescription drug prices would hurt the future innovation of prescription drugs and cures. Allowing Medicare to negotiate prescription drug prices is a main pillar of Rep. Kind’s Drug Pricing Action Plan.

Watch the video here

“We know that in a free market, there’s no more powerful dynamic between a willing seller and a willing buyer than the ability to discuss prices. In fact, the drug industry is the only industry the federal government does business with today that we are, by law, prohibited from discussing prices with. And that was because of the way the legislation was structured back in 2004, when the Part D plan was first formed…”

Last summer, Rep. Kind unveiled his Drug Pricing Action Plan made up of bipartisan solutions aimed at lowering costs for Wisconsinites by:

  • Lowering out-of-pocket costs for patients
  • Allowing Medicare to negotiate drug prices
  • Promoting price transparency & accountability
  • Stopping patent abuse

 

-30-

 

Issues: