AARP: NYS Senate Fails to Directly Attack Spiraling Rx Prices

Posted on 05/24/22

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AARP New York State Director Beth Finkel released the following statement in response to today’s New York State Senate actions on prescription drug legislation:

“The State Senate’s decision to drop from the prescription drug package it passed today bills to ban ‘pay for delay’ deals and leverage the lower prescription drug prices paid in other countries to reduce prices here in New York will cost consumers while protecting drug makers’ profits.

“Portions of the package would help New Yorkers, including legislation to cap consumers’ out-of-pocket insulin costs and create a state program to import prescription drugs at lower prices, as well as bring more transparency to prescription drug costs.

“However, the Senate failed to move legislation that would most directly attack the spiraling prices of prescription drugs to bring true, lasting relief to consumers. While this package could provide short-term help, it doesn’t go nearly far enough.

“Clearly New York needs additional policy passed to address the root of the problem: out-of-control prescription drug pricing.

“Although the Senate package is well-intended, it does not address drug companies’ never-ending prescription drug price increases, which have far outpaced the rate of inflation for the past ten years.

“The Senate must pass S.4370-B (Biaggi), stopping pay for delay Rx deals, and S.8901 (Cleare), to start a program to hold drug prices down, before the legislative session ends. Pharmaceutical industry opposition should not stop the Senate from doing the right thing and passing these bills.”

MEDIA CONTACTS: Erik Kriss, ekriss [at] aarp [dot] org, or Jordan McNerney, jmcnerney [at] aarp [dot] org.

This story is provided by AARP New York. Visit the AARP New York page for more news, events, and programs affecting retirement, health care, and more.

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