August 2022 - Newsletter #3
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Medicare Drug Price Negotiations Slammed as "‘Too Little, Too Late’"
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As part of a package of climate and healthcare legislation recently passed by the US Congress and Senate, Medicare is poised to be able to negotiate drug prices with drug manufacturers for a very limited number of drugs starting in 2026.
The legislation is being criticized as "‘too little, too late’" by the Campaign for Prescription Importation (CPPI), a national non-profit patient advocacy organization that fights for Americans’ access to the importation of safe and affordable prescription medication for personal use.
In a recent article, the “CPPI outlines shortcomings of the … legislation:
- No price negotiation would take place until 2026
- Price negotiations would be limited in size/scope (10 drugs in 2026, 15 drugs in 2027 and 2028, and only 20 drugs in 2029 and beyond).
- There are also numerous exceptions and exclusions, most notably for vaccines, new formulations such as extended relief, orphan drugs, plasma derived products, etc.”
“‘Waiting four to seven years for price negotiations to kick in means that millions of people requiring daily medications will continue to need relief from the outrageous prices Big Pharma charges for its drugs. Millions more would never see their drug prices lowered as only 20 drugs would ever be negotiable under this legislation. Opening the door to personal importation today could save countless lives and offers immediate savings that other drug price legislation cannot deliver,’“ says Jack Pfeiffer, Executive Director of the CPPI.
By contrast, the CPPI notes that its 109,000 members who already import their personal prescription drugs from places like Canada, saved nearly half a billion dollars in 2021 alone.
Yet, there is a bill now before the Senate called the DRUGS Act which is designed to prevent you from ordering lower cost prescription drugs from certified online pharmacies, like NorthWestPharmacy.com. Please take 90 seconds to help the CPPI STOP the DRUGS Act here!
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