AARP Statement on the Prescription Drug Pricing Reduction Act of 2019

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WASHINGTON—AARP Executive Vice President and Chief Advocacy and Engagement Officer Nancy LeaMond issued the following statement today, responding to the Senate Finance Committee (SFC) announcement that it would markup the Prescription Drug Pricing Reduction Act of 2019 this Thursday:

“AARP thanks Chairman Chuck Grassley and Ranking Member Ron Wyden for their bipartisan work to address high drug prices. We commend the Senate Finance Committee for including an out-of-pocket cap on prescription drugs for seniors in Medicare Part D and for proposing to crack down on drugmakers that raise prices higher than the rate of inflation. The time is now for legislation to reduce drug prices. AARP is deeply committed to winning this fight on behalf of our members and all Americans.

“High drug prices disproportionately hurt older Americans, particularly Medicare Part D enrollees who take an average of 4.5 prescription medications each month. Most Medicare beneficiaries live on fixed incomes, with an average annual income of just over $26,000. The average annual price for a single specialty drug used on a chronic basis is now an astounding $79,000. Medications are simply not affordable when their prices exceed a person’s annual income.

“Americans pay the highest drug prices in the world, and too many people are forced to choose between buying the medications they need and buying food or paying their mortgage. AARP and its 38 million members are calling on Congress to take meaningful action on skyrocketing drug prices.”

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