Rosen, Romney Introduce Bipartisan Laws to Advance Extra Choices to Decrease Drug Costs

Rosen, Romney Introduce Bipartisan Laws to Advance Extra Choices to Decrease Drug Costs

WASHINGTON, DC – Right this moment, U.S. Senators Jacky Rosen (D-NV) and Mitt Romney (R-UT) introduced that they’ve launched the Advancing Inexpensive Medicines for Households Act, bipartisan laws which might direct the Authorities Accountability Workplace (GAO) to conduct a report on the impression that nonprofit generic drug corporations would have on decreasing drug prices, addressing drug shortages, and accelerating the event of latest medication. The report would additionally take a look at present limitations to the success of nonprofit pharmaceutical organizations, and what Congress can do to help them.

“The rising value of prescribed drugs is having an actual and damaging impression on the well being and well-being of Nevadans, and I’m able to do all the pieces we are able to do to make essential drugs extra reasonably priced,” mentioned Senator Rosen. “This bipartisan laws would discover the function that nonprofit pharmaceutical organizations play on this business, and I’m glad to be working with Senator Romney on this vital effort to deliver down prices.”

“Utahns and Individuals throughout the nation are strapped with skyrocketing prescription drug prices, and it’s more and more tough for them to obtain the drugs they want,” mentioned Senator Romney. “We should discover methods to decrease prices for remedy and spur the analysis and improvement in new medication. I’m proud to workforce up my efforts with Senator Rosen on this difficulty by requiring a report to have a look at how Congress can work with nonprofit generic drug corporations like Utah’s Civica Rx on a bipartisan foundation to decrease drug prices, handle shortages, and speed up the event of latest medication.”

“We admire the eye of Congress to the non-profit pharmaceutical mannequin, which has quite a few potential functions, together with addressing drug shortages, decreasing costs for customers, and bringing medication to marketplace for under-served populations,” mentioned Ned McCoy, Chief Government Officer of Civica Rx. “The widespread thread is specializing in the unmet want and never on maximizing monetary returns.”

“We’re grateful to Senators Jacky Rosen and Mitt Romney for his or her management in sponsoring this vital laws designed to discover the catalytic potential of nonprofit pharmaceutical corporations,” mentioned Autumn Ehnow, Government Vice President of Coverage and Strategic Market Entry at Medicines360. “Non-profit pharmaceutical organizations like ours function a bridge to raised well being by serving the general public, constructing well being fairness, and filling gaps in entry. With out the necessity to maximize income for shareholders, nonprofits can concentrate on how finest to stabilize provide, decrease prices and enhance entry for individuals throughout the nation. Increasing entry to vital medicines and gadgets is on the coronary heart of our work, and we’re assured this report will present the unbelievable worth of that mission.”

Senator Rosen has been main efforts to decrease prescription drug prices. Final yr, she launched the Increasing Entry to Inexpensive Prescription Medicine and Medical Units Act which might assist scale back the price of medicines and medical gadgets, lower the frequency of drug shortages, and enhance home manufacturing by means of funding in nonprofit prescription drug manufacturing. Senator Rosen additionally helped introduce the bipartisan MADE in America Act with Senator Tim Scott (R-SC), which might handle vulnerabilities within the U.S. pharmaceutical provide chain and bolster pharmaceutical independence. Provisions primarily based on each of those payments have been included in a legislative bundle that handed out of the Senate HELP committee.