HEALTHCARE

HEALTHCARE

Prescription Drug Affordability Initiative 

Sponsored by Healthcare For All

Today, hundreds of thousands of Marylanders are newly covered with access to a wide range of benefits and services, including prescription drugs.

However, expensive life-saving drugs– some of which are close to six figures for treatment– threaten to derail the progress made in expanding coverage.

Prescription drugs account for one of the fastest-growing segments of health spending in the U.S. Nationally, we’ve seen figures that indicate spending on high-cost drugs alone is expected to more than quadruple from $87 billion dollars in 2012 to $400 billion in 2020. Containing rising health care costs means containing prescription drug prices.

THE PRESCRIPTION DRUG AFFORDABILITY INITIATIVE

The Prescription Drug Affordability Initiative would:

  • Require drug companies to disclose the basis for the prices of their prescription drugs, including a breakdown of how much is spent on production, research, marketing and profits.
  • Require these companies to give the public prior notice if they plan to increase the price of any name brand or specialty drug by 10% or more to help consumers adjust to the new rate.
  • Authorize the Office of the Maryland Attorney General to take legal action to prevent price gouging by major drug corporations.