As state lawmakers and Governor Kathy Hochul approach a Saturday deadline, new measures aimed at making prescription drugs more affordable for New Yorkers could be included in the final budget agreement. Hochul’s proposals for prescription drugs, which have garnered the support of AARP New York, include new transparency requirements and a ban on “pay-for-delay” agreements for drug manufacturers.
AARP New York State Director Beth Finkel criticized the current situation, stating that it is “outrageous” that Americans continue to pay three times more for prescription drugs than people in other countries. She called on the State Assembly to join the Governor and Senate in implementing these measures to ensure that New Yorkers know what they will have to pay for the medications they need.
The group pointed to a national survey that found 20% of voters skip prescription medications due to the cost, and 60% are concerned about the cost of prescription drugs.
Under the proposed measures being considered this week, drug manufacturers would be required to notify the public of price increases before they take effect. Lawmakers and Governor Hochul are also considering disclosing or outright banning agreements in which drug manufacturers pay generic manufacturers to keep less expensive versions of drugs off the market.
As the deadline looms, it remains to be seen whether these measures will be included in the final budget agreement. However, the push for more affordable prescription drugs highlights the ongoing issue of skyrocketing drug prices and the need for greater transparency and accountability in the pharmaceutical industry.
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