May 11, 2018

Senator Hassan on President’s Prescription Drug Speech: “We Need to See Real Action to Lower Drug Prices”

WASHINGTON – Senator Maggie Hassan released the following statement following President Trump’s speech today on prescription drug prices. As a member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, Senator Hassan has made taking comprehensive action to address the skyrocketing costs of prescription drugs a top priority. The New Hampshire Insurance Department estimated that Granite State patients and families spent more than $1 billion on prescription drugs in 2015. 

“The skyrocketing cost of prescription drugs is one of the most pressing issues facing people in New Hampshire and across America, and we need to see real action to lower drug prices. High drug costs are too often forcing seniors and families to make agonizing decisions such as whether to put food on the table or fill a prescription that could improve - or even save - a life,” Senator Hassan said. “I have joined a number of my colleagues in introducing legislation that takes common-sense steps to address this issue, including allowing Medicare to negotiate the price of prescription drugs, permitting the safe importation of affordable prescription drugs from places such as Canada, and ending the senseless tax breaks for drug companies that allow them to take tax deductions on the billions of dollars they spend on advertising. I welcome the President highlighting the importance of this critical issue, however, I am very disappointed that he has apparently dropped his support for allowing Medicare to negotiate the price of prescription drugs. I will carefully review his announcement and continue working to hold the Administration accountable on this pressing issue.”     

Senator Hassan joined a number of her colleagues in introducing the Improving Access to Affordable Prescription Drugs Act to hold big pharmaceutical companies accountable and rein in the skyrocketing prices of prescription drugs. The legislation takes common-sense steps including allowing Medicare to negotiate the price of prescription drugs and permitting the safe importation of affordable prescription drugs from places such as Canada. And it would end the senseless tax breaks for drug companies that allow them to take tax deductions on the billions of dollars they spend on advertising. Click here for an op-ed from Senator Hassan on the legislation to lower the cost of prescription drugs.  

The Senator has also repeatedly emphasized the importance of taking action to address the cost of prescription drugs during hearings of the Senate HELP Committee. In December, the Senator highlighted that the United States is one of only two developed countries to allow prescription drug corporations to advertise their products directly to consumers on television and other media, and that the government gives these companies a tax break for these ads.

 

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