AARP NY: State Senate Passage of Transparency Legislation Can Be a First Step Toward Lower Rx Costs

ALBANY, N.Y. – AARP New York State Director Beth Finkel issued the following statement today on the state Senate passing S.488 (Senator Nathalia Fernandez), which would require prescription drug manufacturers to notify the attorney general of arrangements between pharmaceutical companies resulting in the delay of the introduction of generic medications. The legislation has been introduced in the Assembly by Assemblymember Emily Gallagher (A.2289).

“We applaud Senator Fernandez for sponsoring this important legislation and the Senate for passing it. We hope the Assembly will do the same. This bill can serve as a vital first step toward lowering the skyrocketing costs of prescription drugs in New York State.

“Americans pay some of the world’s highest prices for their prescription drugs, and medications don’t work if people can’t afford to take them. Those higher costs can be particularly problematic for older New Yorkers, especially those living on a fixed income who often have to decide between paying for their prescriptions or other necessities, like food and utility bills.

“Another key initiative introduced in the Legislature is a proposal to import less expensive prescription drugs from Canada. The price New Yorkers pay for their medications can be two to four times higher than what our neighbors to the north are paying for the same prescription drugs made from the same ingredients. That shouldn’t be happening for anyone of any age.
 
“Legislation sponsored by Senator James Skoufis (S.371) and Assemblymember Jo Anne Simon (A.4604) would allow New York State to design a prescription drug importation program for the wholesale importation of prescription drugs from Canada, pending approval by the federal government.

“The Assembly must pass these prescription drug pricing reform bills that can bring down the cost of medications for all New Yorkers. We will continue to work with lawmakers and Governor Hochul to achieve that goal.”

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About AARP
AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering Americans 50 and older to choose how they live as they age. With a nationwide presence, AARP strengthens communities and advocates for what matters most to the more than 100 million Americans 50-plus and their families: health security, financial stability and personal fulfillment. AARP also works for individuals in the marketplace by sparking new solutions and allowing carefully chosen, high-quality products and services to carry the AARP name. As a trusted source for news and information, AARP produces the nation's largest circulation publications, AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org/about-aarp/, www.aarp.org/español or follow @AARP, @AARPenEspañol and @AARPadvocates on social media.