As the national discussion over how to control prescription drugs prices heats up, NCPSSM President & CEO Max Richtman sits down with CBS4’s Jim DeFede in Miami to discuss the challenges facing seniors and some possible price control solutions. These include allowing Medicare to negotiate drug prices directly with pharmaceutical manufacturers, allowing drug reimportation from Canada, and stopping “Pay-for-Delay” agreements that delay generics entering the market.
Despite tepid pleas from the Trump administration, Big Pharma hiked the prices of hundreds of medications at the beginning of the year. According to Rep. Elijah Cummings’ office, some 94% of the most often prescribed brand-name drugs more than doubled in price between 2005 and 2017.
Meanwhile, the percentage of Medicare Part D beneficiaries who paid at least $2,000 out-of-pocket for prescriptions nearly doubled from 2011 to 2015.
Watch the full interview.