Transparency was an important first step. Now we need to go further.
HB 4005, the Prescription Drug Price Transparency Act, was passed with a bipartisan supermajority in February 2018. HB 4005 was an important first step in holding pharmaceutical companies accountable for price-gouging on life-saving medications, but there is still more we can do. Across the country, states are starting to look at ways to truly lower drug prices at the source: what we are charged by the manufacturer. We need to take action now to protect seniors and other Oregonians who depend on prescription drugs.
- Drug companies make double the profits of pharmacists, distributors, insurance companies, and pharmacy benefit managers combined.
- High costs affect everyone: patients, providers, employers, taxpayers, hospitals and health plans.
- Most drug companies have seen profits of 17%, well above inflation.
- Prescription drugs cost Americans, on average, twice as much as other industrialized countries for medications.
- Insulin, a drug that has been on the market for decades, increased 300% over the past past ten years. Meanwhile, about 8% of Oregonians suffer from diabetes and too many people are having a hard time keeping up with the skyrocketing costs.
Take action. Contact your lawmaker, go to a town hall, get engaged on social media. Join us today!