U.S. SENATE – U.S. Senator Steve Daines today introduced a bipartisan bill to shed light on the drug pricing process and the middlemen responsible for negotiating prescription drug costs.
“Montanans can’t afford to keep paying the outrageous costs of prescription drugs,”Daines said. “Transparency and accountability in drug pricing is long overdue. That’s why I’m introducing this bill to protect Montanans and ensure those responsible for negotiating drug prices are focused on driving costs down, not lining the pockets of their own industry.”
The bipartisan bill, the Prescription Pricing for the People Act of 2019, helps shed light on the pharmacy benefit manager (PBM) industry by examining the effects of consolidation on pricing and other potentially-abusive behavior. Specifically, the bill requires the Federal Trade Commission (FTC) to study the role and recent merger activity of PBMs as well as possible anticompetitive behavior. The bill requires the FTC to provide policy recommendations to Congress to improve competition and protect consumers.
Daines introduced the bipartisan bill with U.S. Senate Finance Committee Chairman Chuck Grassley and Senator Maria Cantwell.
To view bill text click HERE.
Background on Daines’ Efforts:
Daines has been active in working to lower prescription drug costs for Montanans.
Earlier this month, Daines met with seniors at the Touchmark Senior Center in Helena on drug pricing, as well as a teletownhall with AARP and Montana seniors on the issue.
In his role on the U.S. Senate Finance Committee, Daines has also participated in several hearings related to drug pricing including one with PBM executives. To learn more click HERE.
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