Current law prevents Medicare from negotiating rates for drugs. Pharmaceutical companies escalate their rates for drugs people must have to maintain their health..
This is legal extortion! People and Medicare must pay whatever the drug co. demands, which must be paid or the consequence are dire. Insurance companies refuse to cover many expensive drugs.
Several solutions:
• Give Medicare the authority to negotiate retail drug price
• Give the FDA authority to set reasonable net profit limits for any drug; extend the FDA’s authority to generic drugs as well.
• Reduce the time a drug co. may hold a patent on a drug, and prohibit reformulation of a drug to extend a patent.
• Increase grants to universities to create new drugs
We petition your support & pursuit or the above.