Rising prescription drug prices are hurting countless Americans across this country.
Americans are now spending nearly double what they spent on prescription drug costs in 1990.
The prices of the 20 most commonly prescribed brand-name drugs for seniors have risen at nearly ten times the rate of annual inflation over the past five years.
Even with 48 million less prescriptions written for the top 20 most commonly prescribed brand-name drugs for seniors between 2012 and 2017, total sales revenue resulting from these prescriptions increased by almost $8.5 billion during the same period.
Should Congress Act to Lower Prescription Drug Prices?
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These numbers are astonishing. No one should have to choose between taking their medicine or buying groceries for the week. Americans overwhelmingly agree- nearly 8 in 10 say that prescription drug costs are unreasonable.
This week, the House voted on H.R. 987, the Strengthening Health Care and Lowering Prescription Drug Costs Act, a package of healthcare reforms that would promote price competition for prescription drugs and prohibit "pay-for-delay" practices that brand name drug companies use to keep cheaper generic drugs off the shelves. This legislation is crucial to alleviating the everyday strife of Americans who are scraping dollars together to pay for their families' medicines. I was proud to join my colleagues in passing this critical piece of legislation.
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