Sen. Smith Introduces Bills Aimed to Lower Drug Prices
The bills have bipartisan support
WASHINGTON – With the cost of medicine rapidly rising, Democratic Minnesota Sen. Tina Smith introduces two bills to help lower the cost of drugs.
One is called the Ensuring Innovation Act, which would stop companies from extending their patents by making insignificant changes to drugs by adding ingredients.
The other is called the FAIR Drug Pricing Act, which would require manufacturers to be transparent about price increases.
“Worst case scenario I think people are going to end up paying the price and no one is going to reign in the big drug companies, that’s the way our market works and that’s why I’m using all the power I can marshal in the Congress to pass good legislation,” Smith said.
Both bills have bipartisan support and Smith says she’s optimistic they can get passed.