PHOENIX, Ariz. — U.S. Senator Martha McSally (R-AZ) announced Wednesday night that she will introduce legislation next week to lower the cost of prescription drugs for Arizonans. Her bill will significantly lower patients’ out-of-pocket expenses by promoting a more competitive and transparent marketplace for prescription drugs.
“I’ve heard from too many Arizonans who have to leave their prescriptions at the counter or ration their medications below what their doctor prescribed because of skyrocketing drug costs. This is unacceptable. Americans should not be forced to choose between their medications and paying their rent,” McSally said. “Americans should also not be paying more for drugs than Canada, especially when those drugs were discovered or made in America. My bill will address this problem by pulling back the curtain on pricing and negotiations, ending the sticker shock at the pharmacy counter, and capping out-of-pocket costs for seniors. It is imperative that we hold big pharma companies accountable for exploiting loopholes that keep prices high for seniors, families, and taxpayers. I urge Republicans and Democrats in Congress to join me to ensure hard-working Americans and their families can access the treatments they need at an affordable cost.”
Sen. McSally’s bill will lower the cost of prescription drugs for all Americans through four key provisions:
- Allow Medicare to directly negotiate prices of drugs that are past their original patent expiration but still maintain a monopoly for that drug.
- Permit the safe re-importation of prescription drugs from Canada that meet FDA safety standards.
- Curb the ability of drug companies to abuse the patent system to delay competition and prevent cheaper alternatives from entering the market.
- Cap the out-of-pocket costs for prescription drugs for seniors on Medicare at $3,100 each year.