Downey: We Can’t Lose Sight of Underlying Problem of Continually Rising Drug Costs

Downey

By Assemblywoman Joann Downey

I am writing to you today in regards to the financial problems residents of New Jersey and individuals across America are facing due to the continued rise of costs for life-saving medication.

Prescription drugs are an important part of our healthcare system. Unfortunately, out-of-control prices are making it more difficult for hard working Americans to afford the medications they need to survive. Today, more than 21 cents of every health care dollar goes into the pockets of manufacturers, PBMs and others to pay for prescription drugs – more than any other expense.

While drug companies should be applauded for their work to develop COVID-19 vaccines, treatments and tests, as well as so many other important medical advancements, we should not lose sight of the underlying problem of continually rising drug costs preventing individuals from receiving their much needed medication. Americans should not be forced to choose between purchasing the medication needed to survive or purchasing groceries and other essentials to care for family members.

To improve access to prescription drugs and to make new treatments more affordable, health care stakeholders should promote policies that preserve innovation and competition, while also promoting greater transparency.

If you have any questions or would like to discuss this further, please email me at aswdowney@njleg.org or call at (732) 695-3371.

Sincerely,

Joann L. Downey, Esq.
Assemblywoman
11th District

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