Congress bill H.R.3 would allow for lower pricing.
The number of list price increases of prescription drugs is expected to rise this year, reversing a lowering trend over the past five years. A study from Brooklyn Research found the number of list price increases of brand name drugs in 2021 has already exceeded the number in 2020 and is likely to exceed the prior two years as well.
In April of this year, the chairs of the Ways and Means and the Education and Labor committees reintroduced the Elijah E. Cummings Lower Drug Costs Now Act in the House of Representatives that could reform the cost of prescriptions. The legislation would authorize the secretary of Health and Human Services to negotiate lower prices directly with pharmaceutical companies.
As the Lord Leads, Pray with Us…
- For U.S. government officials regulating drug pricing and the drug supply chain.
- For Congress to have discernment as H.R. 3 is considered for decreasing prescription costs.
Sources: Washington Examiner, New York Times, American Progress
