Reed to speak on bill to lower prescription drug prices

This is a file image of prescription pills.

PROVIDENCE, R.I. (WLNE) — Rhode Island Sen. Jack Reed will speak Friday on a bill to lower prescription drug prices.

Reed and Sen. Whitehouse unveiled a trio of bills earlier this year that would make expensive prescriptions more affordable for families.

He will join health experts at 11 a.m. to discuss how this bill would impact Rhode Islanders.

The legislation would allow Medicare to negotiate lower drug prices and capping out-of-pocket prescription drug costs.

“Forcing millions to choose between affording their medications and paying for essentials like food or rent,” said Reed’s office.

Medicare accounts for one third of the country’s prescription drug spending.

The legislation would also penalize drug manufacturers for price hikes that outpace inflation.

“For too long the pharmaceutical industry has overcharged Americans and dictated sky-high prices for life-saving prescription drugs that people rely on,” said Reed.

The Senate will try to pass the bill through budget reconciliation.

 

 

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